Shift Freight Industry News
"> Yahoo Finance forecasts Shift Freight’s market growth for the year 2022
The year 2020 recalls the toughest time ever in human history. The impact of pandemic-induced lockdown devoured millions of lives and slashed down the growth of the global economy. The adverse repercussions of the pandemic outbreak hit hard on the local business particularly those belonging to startup and SME segments. The industry of packers and movers is one of the primary sectors that suffered massive consequences of nationwide lockdown in India that continued for almost three years. Having collaboration with topmost moving companies, Shift Freight emerged as a big player in the Indian logistic marketplace and has been nominated as one of the most successful entrants by prominent media channels & business portals.
Yahoo Finance predicts Shift Freight’s revenue share for the fiscal year 2022!!
From being a startup to emerging as a PAN-Indian aggregator of packers and movers in India, Shift Freight established a prominent position in the Indian logistic marketplace. We’re glad to share some key foresight of our market growth with brief stats shared on a recent report published by Yahoo Finance:
- The co-founder of Shift Freight, Avinash Raghav was quoted saying that the company will touch a revenue share of Rs 50 crore by the end of the year 2022. Pan-India presence and growth in order numbers would play a significant role in the rise of the company’s profits.
- Headquartered in Noida, Shift Freight is named amongst the fastest-growing startups that entered just one month earlier to the day when the lockdown was imposed in the country. Presently, our packers & movers are operations across 10 prominent metro cities of India with registered regional offices in Delhi/NCR, Bengaluru, Hyderabad, & Jaipur.
- The report by Yahoo Finance further mentions some stats regarding our business operations, market size, & network of packers and movers. As per the co-founder’s knowledge, Shift Freight conducts more than 1,000 relocations in a month and this count is increasing at a rate of 75-80% with every passing month. Apart from this, over 560 trucks are actively involved in the on-demand packers and movers services offered by Shift Freight.
- In the first few months of establishment, Shift Freight got a great response from service partners as well as customers looking for quality and affordable moving solutions with flexible booking options. From a minimum scale of 50 orders for combined revenues of Rs 6 lakh in June 2020 to receiving around 1,000 orders for profits of Rs 1 crore in Dec 2020, the company garnered a broad market share in the logistic segment.
- The report submitted by Yahoo Finance also foretells some futuristic plans of the company. It states that Shift Freight will expand its existing packers and movers market reach across 65-70 towns and cities by the end of March 2022 along with a fleet of 1,500-2000 trucks joined our existing network. As per the co-founder’s statement, we would be capable of completing over 4k-4.5k movements in a month that will add up to 50,000 orders to generate total revenue of Rs 50 crore by the last of March 2022.
- Shift Freight is all set to commence its operations in overseas nations to fulfill the surging demands for packers and movers in the global corners. According to the report, the company will soon get its first US office in Washington DC to fill the gaps in the logistic market.
Being a proud logistic partner of numerous established companies and brands in India, Shift Freight’s noteworthy emergence in the Indian packers and movers industry has always a hot topic of discussion in the business world. With a current market value of USD 40 million, we are targeting to touch a top line of USD 200-400 million by March 2022 which would be the biggest mark of our business success in the coming years.