EQS-News

elumeo draws first positive conclusions on the introduction of jooliPay in India

EQS-News: elumeo SE / Key word(s): Market Report/Market Report elumeo draws first positive conclusions on the introduction of jooliPay in India 29.01.2024 / 10:19 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

elumeo draws first positive conclusions on the introduction of jooliPay in India

• 560% increase in order volume in December 2023 compared to the previous month
• Customer acquisition costs reduced by more than 90%
• More than 3,500 satisfied customers since launch at the end of August 2023
• Successful redesign of the onboarding process

 

Berlin, 29.01.2024 - elumeo SE (ISIN DE000A11Q059), the leading electronic retailer for gemstone jewelry in Europe, draws a first positive conclusion on the introduction of the payment function jooliPay for its AI-driven video shopping app jooli in the Indian market. Since the launch of the payment function in August 2023, the order volume has skyrocketed, reaching 2,122 orders delivered in December 2023, a growth of around 560% compared to the previous month. After the average sales price initially fell from 500 Indian rupees (INR) in September 2023 to INR 94 due to discounts and rebates, it has increased significantly again since December 2023 and reached INR 150 per order again in January 2024. The reasons for the trend reversal are increased customer confidence in the payment function and a growing number of second and third purchases.

At the same time, the efficiency of the advertising campaign, which mainly relies on social media, was further increased significantly. The costs per acquired customer fell by more than 90% between October and December 2023 to just over INR 350. In the second half of January, this figure improved further and was reduced to less than INR 100 in individual campaigns. Since the launch of jooliPay, jooli has already acquired more than 3,500 paying customers. The resulting increase in positive ratings on the platforms is supporting jooli's further organic growth.