CredR Sells 250+ Used two-wheelers in Lockdown 4.0

Omni channel used two-wheeler consumer brand, CredR, has recorded sales of over 250 used two-wheelers in the Lockdown 4.0 phase that started mid-May, amid the changing consumer behavior due to the coronavirus pandemic. The Company expects to return to its pre-COVID sales figures by as early as June this year due to the introduction of novel products such as contactless doorstep bike delivery and assured 12 months Buyback, which has acted as catalysts for consumers in the decision-making process.

These sales numbers were clocked from only 40% of its showrooms that were made operational in Bangalore, Delhi NCR, and Hyderabad as the lockdown was slowly eased. The company expects to return to its pre-COVID numbers by July.

To ensure the safety of customers, CredR has implemented a contactless delivery mechanism for its two-wheelers and processed over 30% orders during this period via this channel. The Company has also seen a sharp increase in online sales enquiries, a jump of almost 400% from the initial phases of the lockdown.

Sasidhar Nandigam, Chief Strategy Office, CredR, said, “Consumer behavior is increasingly being altered by the ongoing COVID-19 pandemic. This change in consumer behavior has brought in an entirely new segment of customers who were earlier, either looking to buy new bikes or was using shared mobility or public transport. As health and hygiene are paramount, it has required us to have strict protocols at every touchpoint. We are witnessing a sharp increase in contactless doorstep bike delivery. We are expecting to be back to pre-COVID sales numbers by July.”

The extended lockdown and the constant rise of Coronavirus cases in India have created restrictions on public transport and a serious liquidity crunch for buyers all across India. A widespread shift from shared mobility and public transportation to privately-owned mobility will no longer remain a luxury but will become a pressing need. The current wave of consumers is definitely cautious and value-driven and want to safeguard their financial interests, while still having access to quality private-owned mobility.