Aug 5, 2021
By: kritti.bhalla@timesinternet.in
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India’s laundry service market is expected to grow up to $15 billion by 2025, as per a recent RedSeer report.
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Three important factors for the laundry segment’s growth in the next four years are — users moving to e-laundry services, more investments and rise of brands .
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The laundry service market was estimated to have an addressable market of $11.3 billion in 2019, the report added.
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The addressable market dropped to $10 billion in 2020, due to COVID-induced lockdown and restrictions.
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The remaining 12 percent are conducted by the hospitality and healthcare industry.
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There are more than 100 startups in the laundry service market.
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Twenty of these startups also have seed funding, the initial round of funding.
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Some of these startups are UClean, Wassup, LaundryAnna, Laundrokart and Washbuddy.
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There is immense scope for easing up the customer’s life through outsourcing of laundry, but a critical mindset shift is still needed, says RedSeer’s associate partner Kanishka Mohan.
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Another RedSeer report also estimates that India’s consumer digital economy is estimated to reach $800 billion by 2030, representing a ten fold increase from $85-90 billion opportunity in 2020.
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