17, Nov 2023
Wakefit.co clocks in a 35% increase in revenues during the 2023 Festive Season Sale
Bengaluru, 17 November 2023 — Wakefit.co, India’s largest sleep and home solutions company, announced the results of its largest annual festive season sale in 2023, with a 35% increase in revenue compared to last year’s festive season. The brand’s flagship sale unfolded from October 7th to November 11th and recorded a whopping 2.4 million new visitors this year. This achievement not only reflects Wakefit. co’s dominance in the market but also underscores the evolving preferences and trust of customers in their quest for high-quality home and sleep solutions.
While mattresses and accessories continue to be the highest contributors to the revenue, furniture now commands 30% of the business. The sale recorded standout categories such as dining tables soaring to 3.4 times and wardrobes doubling to 2.6 times as compared to last year. Categories like shoe racks, TV units, and coffee tables have doubled in terms of demand since last year. This growth echoes evolving customer preferences for quality, innovation, and value for money, in addition to their need for aesthetics and functionality. Wakefit. co’s commitment to customer-centricity and product innovation has allowed the company to recognize these preferences and needs and cater to a larger base of customers across metros and non-metros.
Ankit Garg, CEO and Co-founder, Wakefit.co, “We are thrilled to announce that our festive sale this year has surpassed expectations, reflecting a robust 35% increase in revenue compared to last year. This achievement is a testament to the trust and enthusiasm of our customers. Welcoming 2.4 million new visitors to our platform is not just a number for us; it symbolizes the growing faith in our brand and the quality of our products. We are committed to continuously enhancing our product offerings and delivering exceptional value to our customers.”
Chaitanya Ramalingegowda, Director & Co-founder, Wakefit.co, “The success of our festive sale speaks volumes about the resonance of our brand in the market. This year’s performance is a significant milestone in our 8-year journey, and it reinforces our dedication to providing innovative and customer-centric solutions. This has resulted in the brand earning over 7 lakh verified reviews, the largest in this category in India. Each new and returning customer is a vital part of Wakefit. co, and we are grateful for the opportunity to serve and grow with them. We look forward to building on this momentum and reaching new heights in the coming year.”
The festive season saw a surge in customers, with over 1.75 lakh unique customers, marking a noteworthy increase from the previous year. Each addition is a testimony to the trust placed in Wakefit. co as the provider of choice for sleep and home solutions. While the top 8 metro cities contributed to over 50% of the revenue during the festive sale, Bengaluru, Hyderabad, and NCR continued to be the largest markets for Wakefit. co. In terms of the highest average order value, Kolkata ranked first, while Bengaluru, Hyderabad, and Delhi ranked a close second.
Wakefit. co has been in the industry for almost 8 years and has served more than 2 million customers across 19,000 pincodes. The company recorded a revenue of INR 825 crores in FY 2023 and aims to cross the INR 1000 crore revenue mark by FY 2024. This festive season has significantly contributed to the company’s revenue target. As Wakefit. co continues to redefine living spaces with affordable and ergonomic products, the company also envisions becoming India’s most loved home and sleep solutions company.