New Delhi: While many brands and companies have faced severe challenges and losses caused due to COVID-19 crisis, Advantage Club has emerged as one of the leading Employee Engagement platforms in Southeast Asia.
The Company reports that its GMV (Gross merchandise value) may pass a milestone level of INR 400 crore in the financial year 2021-2022. In the financial year 2020, Advantage Club had reported a GMV of INR 100 crore, which indicates that the company managed to seize a surge of 400% jump in the past two year post-crisis.
Speaking about the milestone, Mr Sourabh Deorah, CEO and Co-founder at Advantage Club, said, “We are very pleased and delighted to announce another imminent milestone. Establishing an international presence in more than 70 countries was the first one; 400 Cr GMV this year is another.”
Drilling down into the data, the Company reported that its total active corporations hit 370+ with a total user base of a million. As for what consumers are buying, other than typical ecommerce and offline shopping, groceries and wellness have become very relevant this year.
The Company also witnessed a decline in other major categories such as Dining and Entertainment.
The Company recently announced its foray in 70+ countries, including the Philippines, Malaysia, Vietnam, Indonesia, Egypt, USA, UK and others. The Company’s vision is to allocate majorly into the Southeast Asian market.
“One of the most profitable segments is online shopping, responsible for 50% of the transactions. Other categories that are expected to dominate are wellness and financial wellness.” Mr Deorah added.
Launched in 2016, Advantage Club runs a corporate discount platform & an end-to-end reward and recognition solution. When corporates enrol with Advantage Club, they get access to exclusive offers from 10000+ brands, including Samsung, Faasos, Big Basket, Myntra, Apollo Pharmacy, among others. Founded by UCLA, Microsoft and Amazon alumni Sourabh Deorah and Smiti Bhatt Deorah, the core idea behind the Company is to help organisations in elevating employee engagement and reduce attrition by seamless AI-powered practical benefits and rewards. With 370+ corporate clients, including giants like Concentrix, Hexaware, EY, Amdocs and Mphasis, Advantage Club leads the $10 billion market in SE Asia.
