Ad spend-to-revenue ratio of e-commerce unicorns India FY 2022
In financial year 2022, Spinny, an Indian e-commerce platform for the sale of used cars, had an ad spend-to-revenue ration of over 200 percent. With an operating revenue of roughly a billion rupees, this implied that the unicorn devoted a far higher share of its future revenue to marketing spends. Purplle and Meesho followed with around an ad spend-to-revenue ratio of about 80 percent each that year.