Phew… I have had a few intense phases working at start ups, the months of October, November and December 2024 was definitely one of them. Although most founders will never admit it, I think there type 2 fun from such phases is why we really start a company.
I left you last when we were growing at a rate we were struggling to keep up with. For this quarter the plan was to go all in for the festive season (it is the first time we were learning to do festive) lots of marketing, tons of new customers and a whole lot of more insight.
Particulars | Mar 2024 | Apr 2024 | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 | Sep 2024 | Oct 2024 | Nov 2024 | Dec 2024 |
---|---|---|---|---|---|---|---|---|---|---|
Net Unit Sold | 75 | 266 | 572 | 319 | 119 | 129 | 265 | 429 | 194 | 182 |
Total Revenue (Exl GST) | 15,36,201 | 55,26,989 | 1,16,70,337 | 65,63,089 | 28,63,977 | 31,37,146 | 64,06,733 | 1,03,37,367 | 47,90,286 | 44,69,344 |
CoGs xFactory | 18,43,220 | 49,59,097 | 1,06,63,922 | 59,47,187 | 22,18,543 | 24,30,732 | 47,60,113 | 76,78,156 | 34,55,196 | 29,84,492 |
Fulfilment cost - Storage and Logistics | 1,50,835 | 2,06,075 | 4,51,916 | 4,42,536 | 3,00,457 | 2,66,279 | 2,99,228 | 4,86,826 | 2,97,722 | 6,42,478 |
GM% | -30% | 7% | 5% | 3% | 12% | 14% | 21% | 21% | 22% | 19% |
Note: I have a new finance team who have gone a refined some numbers from last time so there is some deviation plus and minus month on month, nothing > 5%
Although October was great! It was supposed to be great because of Diwali.
Growth has been unpredictable. We have months (May, June and October) where orders just flew in and others where nothing seems to get sales moving. (more on why we think this is later)
~8% of our orders are people who put it in their bag and took it abroad in 45 different countries
We have found Influencer marketing as a primary driver of top of the funnel demand.
We have now a live online demo that runs on our website, which has a conversion rate of 23% and major driver of D2C sales.
Except forthe month of Sept and Oct, D2C has been the largest contributor for sales.
In December 32% of our owners were weekly active
These weekly active users averaged >4 uses a week
There are 2 broad spectrums of people: