UAE e-commerce site Wadi becomes operationally profitable
Wadi, an e-commerce site in KSA and UAE achieved 200 per cent increase in turnover, resulting in becoming operationally profitable before the first half of 2017.
The announcement comes eighteen months after the company received $67 milion Series A funding and is now achieving the e-commerce dream of becoming operationally profitable and moving towards net profitability.
Wadi, one of the strongest e-commerce players in the region and the number one ranked shopping app in both the KSA and UAE, records a tripled seller base, with 200 per cent increase in year on year growth. In addition to the boom, Wadi achieved an unparalleled score of 60 per cent on the Net Promoter Score (a global index that measures customer satisfaction for e-commerce platforms) and continues to see an increase of repeat satisfied customer’s every quarter.
Customer experience stands at the forefront of Wadi’s 2017 plan, with a large integrated supply chain network, owned and operated by the e-commerce giant.
Operating in 25 cities across the UAE and KSA, Wadi’s large network of delivery systems, run by more than 200 delivery vans and drivers ensures an unravelled faster and on time delivery service.
Well known for exclusive products and brand partnerships, 2017’s highlight was the partnership with international brands including Nokia, Samsung and Reebok.
Following the success of the first half of the year, the second half of the year will reveal exciting expansion plans for Wadi including furthering customer satisfaction to creating a world class platform for sellers. The company is looking to expand its international product portfolio so Wadi customers can access international brands and sellers without incurring international shipping costs. 2017’s H2 will also showcase expansion plans for Wadi’s institutional sales and grocery business.
“We are at a very exciting and pivotal phase of the Wadi story. In the last one year, our delivery is faster by 50 per cent and our service and product range has changed the way people shop online. This has been made possible because of our dedication to pushing the e-commerce boundaries to further excel customer experience.
“Achieving our operational profitability has solidified investor confidence in us and deepened their understanding of Wadi’s business culture. The next 18 months will see us achieving our net profitability and we cannot wait for the next chapter in the Wadi journey.” Comments Pratik Gupta, one of Wadi’s founders.