CityMall hits Rs 450 Cr GMV in FY24 with steady losses

CityMall, a hyperlocal e-commerce platform, has achieved a Gross Merchandise Value (GMV) of Rs 450 crore in FY24. Despite steady losses, the company’s growth reflects strong consumer demand for hyperlocal shopping services in India’s tier-2 and tier-3 cities. CityMall operates by connecting local consumers with nearby shops, offering products ranging from groceries to daily essentials. The platform has gained traction due to its personalized shopping experience and strong community engagement. Although the company is still working on achieving profitability, its ability to maintain growth amidst losses demonstrates the scalability of the hyperlocal business model and its potential for long-term success.