Magicpin sees 100% yearly rise in brand partnerships

15 Jul 2024 CW Team

Magicpin, an offline fashion discovery and savings platform, announced a significant milestone with a 100% year-on-year increase in brand onboarding. According to them, they have added 1000 brands across fashion, QSR, and fine dining categories.

Additionally, more than 75,000 local merchants were added in the past 12 months, bringing the total count to 2,75,000 merchants and 3,000 brands to date.

They noted that 80% of these merchants became transactional within the first month of joining, experiencing substantial growth during that period.

The company claimed that the retention rate of merchants exceeds 90% over a 12-month period, indicating the long-term effectiveness of their pay-per-conversion model.

Over the last year, Magicpin also became the largest seller app on ONDC (Open Network for Digital Commerce), leveraging its 10 million user base, SAS services from other major participants on the network, and its Delivery as a Service (DaaS) offering for hyperlocal deliveries called Velocity, which was launched in early 2024.

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