Palmonas' offline push; IndiaAI's GPU crunch
Happy Thursday! Demi-fine jewellery brand Palmonas is betting on offline stores, cofounder Pallavi Mohadikar said. This and more in today’s ETtech Morning Dispatch.
Demi-fine jewellery brand Palmonas is expanding its offline store network to compete against both established jewellery retailers and newer entrants. According to cofounder Pallavi Mohadikar, repeat purchase rates are higher in offline stores (46%) compared to online (32%) and average order values are also significantly larger in physical outlets.
The company currently operates 105 stores with plans to reach 160 by the end of the fiscal year, and repeat purchase rates and higher order values are key factors in Mohadikar's strategy to lower marketing costs as a percentage of revenue through growth in retail presence.
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- Palmonas' offline push; IndiaAI's GPU crunch economictimes.indiatimes.com
