Spinny records 20 pc growth in 2020

New Delhi, Dec 24 (Agency)

Spinny, the front-running full-stack used car platform, has witnessed around 20 per cent growth in demand for used cars owing to the increase in demand for safe personal transportation by Indian households, even in the face of challenges in liquidity. The platform’s processes were undertaken #WithExtraCare – an initiative that encompasses thorough sanitization of the vehicles, safe and sanitary home test drives, home deliveries, and an entirely contactless experience focused on customer safety and satisfaction. This resulted in an unprecedented number of referrals who became customers, the company said in a statement on Thursday. With Spinny’s initiatives being welcomed fervently, an internal survey revealed that 71% of buyers were convinced it’s preventive measures taken against COVID-19 were the key reason to choose Spinny.

Recording sales of up more than 6000+ cars until October, 80% of Spinny’s buyers are under the age of 35. Spinny has observed a significant reduction in time taken to complete transactions that fell from a week to 3-5 days. Alongside, Spinny also launched numerous features to make buying a car a completely zero contact experience such as Spinny 360, an industry first feature that offers a 360-degree, detailed view of the every Spinny Assured ® vehicle that’s available in the inventory in each city. Fixed Price Assurance, a game-changer that negates the need for unnecessary negotiations and going back and forth on price, reducing the number of interactions required for a customer to buy a car. Spinny BuyBack, a programme that offers a guaranteed future resale value for 6, 12, or 18 months from the time of purchase – which addresses the liquidity crunch faced during these uncertain times, making owning a car more feasible and more economical than the rental or subscription model. The full stack model allowed Spinny to facilitate a simple selling process for people to get the best price for their old car. Sellright by Spinny offers instant online quotes, free doorstep car inspection and instant payment without any middlemen. Speaking on the year’s developments, Mr. Niraj Singh, Co-Founder of Spinny said, ‘’Our first original pivot was becoming a full-stack platform as we were certain that’s required to deliver a delightful customer experience in an industry with too many variables and trust issues.

With the changing needs and expectations of the customer, during the course of this pandemic, this full stack capability allowed us the agility, the control to set industry benchmarks in terms of a contactless, safe and simple car buying and selling experience.’’ “Our emphasis on quality and the extra mile we go as a customer-centric service brand has helped us earn credibility and consumer trust. We ensure that every Spinny Assured® vehicle sold becomes the key reason for more customers trusting us. With the ongoing pandemic, it is evident that every decision needs to be backed by strong safety and social distancing measures and Spinny sets the industry standard in safety and convenience to create an delightful car buying or selling experience for our customers.” He added that “2020 has been a year of extremes and we are gearing up to step into the new year and go ahead with our expansion plans that were put on hold due to the COVID-19 situation. With momentum and validation of our services from positive customer response, we are convinced of offering a safe experience and we will be scaling our operations by expanding to new cities in 2021. Our top-of-mind concern as we foray into new cities is to maintain and indeed further the quality of our buying and selling experience.”