Coutloot’s move to enter the bricks-and-mortar retail market is a significant one, as it marks the company’s expansion beyond the digital space. With over 16 million users and over 32 lakh sellers, the company has already established itself as a major player in the e-commerce market in India.
It plans to play with the concept of converting a small-sized shop into a branded store and it is also set to open 35 small-sized stores from April this year, with a focus on areas with higher footfall.
Coutloot aims to provide an elevated retail experience to shoppers while retaining low prices. With its upcoming stores, the company plans to offer a similar model to Chinese low-cost retailer Miniso, additionally, it will provide convenience to its customers, which is the primary driver of sales.
The co-founder of Coutloot, Jasmeet Thind, said that “customers can expect lower prices but standardised products even in the unorganised market”.
The company has reported an annual gross merchandise value of US $ 100 million and foresees continued growth. In the 2022 calendar year, Coutloot added over 8 lakh new sellers to its platform, increasing its seller base.
