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Strong Jobspeak trends continue; online traffic trends mixed

Naukri’s Jobspeak index grew 57% YoY in Sep’21 as strong hiring trends continued in most major sectors that we track. While IT index was up 138% YoY, Banking and Financial Services, Construction/Cement/Metals and ITeS reported 43%/34%/13% YoY growth, respectively.

Energy, Power & Infra reported comparatively tepid growth of 3% YoY, while hiring activity in Auto & auto ancillary was down 2% YoY. On a 2-Year CAGR basis, the Jobspeak index for IT – Software services has reported 27% CAGR, while the overall Jobspeak index has reported 10% CAGR. Similarweb’s desktop & mobile web data trends were mixed in Sep’21.

Amongst Classifieds businesses, while sequential online traffic was down for Matrimonials (-4% MoM) and B2B/B2B2C (-6%) businesses, trends were broadly flat for Real Estate sector. Recruitment was the only classifieds sector reporting growth (+4% MoM). Amongst transactional platforms, Grocery delivery (+25% MoM), Travel-tech (+13%) and Ed-tech (+4%) sectors reported sequential growth, while trends were flat for Food Delivery platforms. On the other hand, traffic decline was recorded by Financial Services (-2% MoM) and e-Commerce businesses (-3%). Note: The Similarweb data does not include mobile app traffic trends

* Another month of IT – Software services driving strong Jobspeak index: Naukri’s Sep’21 Jobspeak index grew 57% YoY (+3% MoM) to record another all-time high since inception in Jul’08. Strong trends in the IT sectorial index continued (+138% YoY, +4% MoM) with other major sectorial indices such as Banking & Financial Services, Construction/Cement/Metals and ITeS reporting 43%/34%/13% YoY growth, respectively. While Energy, Power & Infra reported comparatively tepid growth (+3% YoY), hiring activity in Auto & auto ancillary was down 2% YoY. On a 2-year CAGR basis, IT (+27% CAGR) continues to significantly outperform other indices that we track (most of which are still reporting negative CAGR). In fact, non-IT/ITeS indices are still down between 11% and 49% from their Jan’20 levels, indicating significant scope for recovery.

* Similarweb’s desktop & mobile web traffic growth trends for ‘transactional platforms’: Travel-tech companies such as Makemytrip, Goibibo, Yatra, Easemytrip and Cleartrip reported another strong month with an aggregate growth of 13% MoM for the sector. Amongst Food delivery aggregators, Swiggy reported 2% MOM traffic increase while Zomato reported flattish traffic trends. In Ed-tech, traffic grew for Vedantu (+6% MoM) and Byju’s (+3%) but was flat for Unacademy. In e-Commerce, sequential monthly traffic was down 6% for Amazon and flattish for Flipkart. Financial services aggregators Bankbazaar and Paisabazaar reported 2%-3% MoM de-growth in traffic but Policybazaar’s traffic was flat MoM. Grocery delivery companies Jiomart (+47% MoM) and Bigbasket (+5% MoM) reported traffic growth. On the other hand, Grofers traffic degrew (-7% MoM).

* Similarweb’s desktop & mobile web traffic growth trends for ‘Internet classifieds platforms’: 1) In Sep’21, sequential monthly traffic trends for Recruitment classifieds companies - Monster India and Indeed were strong (+20%/+13% MoM). Naukri though reported flattish traffic trends. 2) Real estate classifieds companies reported mixed traffic trends. While traffic for Nobroker grew 6% MoM, it was flat for Magicbricks/Housing and down 6% MoM for 99acres. 3) Sequential monthly traffic trends were weak across Matrimonial classifieds companies Bharat Matrimony (-4% MoM) and Jeevansathi (-9% MoM) while flattish for Shaadi. 4) Amongst B2B/B2B2C classifieds, monthly traffic was down 11% MoM for Just Dial and 2% MoM for IndiaMART.

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