May 14: Following its acquisition by Cartrade Tech (NSE: CARTRADE), OLX, the top online classifieds platform in India, announced a strategic decision to concentrate on its classified business at business-standard.com.
This tactical change is a reflection of OLX’s dedication to provide over 35 million monthly active unique (MAU) customers with a flawless pre-owned products buying and selling experience, enriching their lives on a daily basis.
These exchanges contribute to the creation of meaningful connections and fruitful consequences in addition to buying and selling. With the help of the OLX platform, customers and companies may purchase the largest selection of pre-owned items available in India, fulfilling their desires by allowing them to purchase the brands of their choice without worrying about cost.
With its multi-category platform, OLX hopes to revolutionize the online classified market for its consumers. By providing high-quality items that build community trust through ongoing education about online safety, it hopes to improve user experiences.
Focus Categories
With one of the largest dealer networks and listings across 12 major categories, OLX maintains a strong presence throughout a number of online classified market areas. In addition to its current pre-owned vehicle and bike segment, OLX is broadening its focus in the future to include a larger range of categories, such as real estate, jobs, consumer durables, and cell phones. Together, these five categories account for over 80% of OLX’s monthly listing volume, which exceeds 3 million. This calculated action is in line with OLX’s resolve to satisfy changing customer demands at business-standard.com.
In addition, the CarTrade Group‘s recent acquisition of OLX has greatly expanded the company’s customer base, with over 70 million unique users being served each month by the group’s companies. This strengthens OLX’s position in the market by making it one of the biggest consumer-facing companies in India.
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Key Industry Partnerships
In order to improve its platform and provide an unmatched customer experience, OLX is aggressively establishing alliances with prominent players in several important areas. As the facilitator, OLX seeks to give its large user base of over 35 million access to pertinent business partners, such as original equipment manufacturers (OEMs) and other service providers, such as financial institutions, in order to broaden its market reach and provide a variety of goods and services to its customers.
Two such alliances, one with Cars24 and the other with Royal Enfield, were recently announced by OLX. Using the synergies between the two platforms, the cooperation with Cars24 offers consumers warranties on its used automobiles—an industry first for buying and selling pre-owned cars on a used-goods platform—as well as an increased range of options and additional features.
If you want more information, please visit business-standard.com/content/press-releases-ani/olx-unveils-2-0-transformation-classified-business-to-take-centre-stage-124051400588_1.html
Through business-standard.com, their partnership with Royal Enfield, they present ‘Reown,’ their company-operated pre-owned motorbike business. Through the OLX platform, this effort makes it easier for prospective customers to purchase certified pre-owned Royal Enfield motorcycles.
“We are thrilled with this calculated risk and the remarkable success we’ve seen as a result of our integration with the CarTrade Group, which further demonstrates our dedication to providing excellent customer service. It is consistent with our goal to lead the online classifieds industry by providing consumers with a flexible marketplace to meet a wide range of demands in addition to a dependable platform for car transactions.
Amit Kumar, Managing Director & CEO of OLX India, stated, “Our focus on real estate, motorcycles, jobs, consumer durables, and smartphones is set to solidify OLX’s leadership position and deliver great value to our users.”
