The online grocery store in India BigBasket has more than doubled its business to cross the Rs 1000-crore sales mark in FY17, indicating the growing preference for online grocery-shopping in India.
Performance among Global Retailers
“With fill rates and on-time delivery over 99%, our performance is the best even among global retailers. We have invested heavily in marketing and creating the infrastructure to help maintain our focus on customer experience,” said Hari Menon, founder of BigBasket.
Alibaba Purchases Stakes in BigBasket
The Competition Commission of India endorsed Alibaba to buy a stake in BigBasket. The buy will help additionally bond Big-Basket’s position as market pioneer in the basic supply section while permitting Paytm Mall, sponsored by Alibaba, to get a foothold in this market.
Online Grocery Retail Continues to Grow
“Online grocery retail will continue to grow since it addresses a pressing need of the country and BigBasket has the first-mover advantage. With several rounds of funding, it has established the high transaction business,” said Ruchi Sally, director, Elargir Solutions.
Retailers to Provide Multi-Channel Offering
Most retailers are attempting to give a multi-channel offering that takes care of the requests of clients who effectively change channels to purchase items. Amazon India, as well, has gotten government endorsement for its proposed $500 million retail invasion in the nourishment segment, and is increase its business with Amazon Pantry and Amazon Now.