COVID PUSH: INDIAN SMALL-TOWN RETAILERS GOING DIGITAL WITH BUSINESS ACTIVITY BACK TO NORMAL LEVELS - REVEALS OKCREDIT DATA
Small Enterprise|November 2020
According to data gathered by OkCredit basis the behavior of the users, the micro retail players are increasingly taking up digital bookkeeping solutions, as it makes their book-keeping task simpler, digitized and secure and there is stronger demand coming from small towns and hinterlands.
  • 16 out of 36 States and UTs witnessing business activity levels higher than pre-Covid times; Karnataka, Maharashtra, Gujarat, Andhra Pradesh, Tamilnadu & Delhi are trending at 90-95% of their pre-Covid activity levels
  • Businesses in tier 2 and tier 3 cities witnessing faster recovery than tier 1 cities OkCredit witnessed double-digit recovery in business from medical and kirana stores in September 2020 More than 5.5 million small business owners across 2800 cities and nearby rural areas today deal in over 100 types of businesses using
  • OkCredit to track their account receivables and payables business from medical and kirana stores in September 2020
  • More than 5.5 million small business owners across 2800 cities and nearby rural areas today deal in over 100 types of businesses using OkCredit to track their account receivables and payables

New Delhi, 4 November 2020:

Business activity among the micro, small and medium enterprise sector which are regarded as the backbone of the Indian economy is fast reaching near normal levels and they are rapidly adopting digital business tools to drive efficiency and growth, reveals data gathered by OkCredit, the pioneers in digital bookkeeping apps which are fast becoming a new rage among hereto unorganized retailers and traders in India.

According to data gathered by OkCredit basis the behavior of the users, the micro retail players are increasingly taking up digital bookkeeping solutions, as it makes their book-keeping task simpler, digitized and secure and there is stronger demand coming from small towns and hinterlands.

In the unlock phase of Covid pandemic, OkCredit has witnessed strong recovery in demand for its app from tier 3 cities followed by tier 2 and tier 1 cities. OkCredits business from tier 3 cities witnessed 33% growth in the period of February - September 2020 while Tier 2 and Tier 1 cities registered 30% and 28% growth respectively during the same time. This is after a dip of 26%, 31% and 38% in business from tier 3, tier 2 and tier 1 cities respectively in April this year.

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