Rapid Delivery projects 280% turnover growth in FY21 as Covid-19 turns opportunity

July 27, 2020: The last mile delivery partner for e-commerce companies, Rapid Delivery, projects a 280 percent turnover growth in FY 2020-21 compared to FY 2019-2020 as the demand for e-commerce is also pushing last mile delivery need.

With this speculated growth, the company plans to ramp up its hiring, as they also witness a dearth of delivery agents, owing to their migration during the pandemic outbreak. The company recently hired over 200 employees across India for their operations and delivery roles.

With the festive season around the corner, the company speculates an overhaul in its growth trajectory in the next quarter.

Rapid Delivery
The courier company was fulfilling 1.6L parcels per month pre covid-19 and has already achieved 60 percent of its pre-covid numbers, as on June 2020. The numbers have increased from 45,000 shipments in June 2019 to 60,000 shipments in June 2020. Although the industry has taken a huge hit during the lockdown, Rapid Delivery estimates a surge in its growth in the second quarter of FY 2020-21. Incepted in the year 2016, Rapid Delivery is a logistics & courier solutions company specializing in the e-commerce space.

Aaqyl Chagla, Director, Rapid Delivery, said, “We foresee great potential for growth in the SME sector, now especially with prime minister Narendra Modiji’s campaign Aatmanirbharbharat giving an impetus to Indian manufacturing sector and envisage focusing our energies in rendering a seamless experience to Indian manufacturers.”

E-commerce boom
Owing to increased online buying of essentials and supplies by consumers, e-commerce has brought in a logistics boom, pushing the delivery business further ahead. During the lockdown in May 2020, the company not only set up its marketplace for delivery of essentials, but also implemented measures to curb challenges faced by SMEs and e-commerce brands.

“Rapid Delivery identified that Indian manufacturers faced immense challenges in the procurement and the distribution of their goods during the lockdown, such as an increase in the lead time for deliveries for months together, leading to business loss; shipments needed to be sent to and collected from far off collection centres, leading to increased costs; exorbitant rates charged by courier companies. The company ensured minimum lead time with the implementation of AI based live tracking, 100 percent last mile deliveries to the factories and warehouses and no change/spike in their rates.