<ul><li>Twitter was flooded with complaints about <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>, Grofers and other delivery apps about delayed deliveries, lack of available slots and delayed refunds.</li><li>BigBasket CEO <keyword id="6379851" type="PERSON" weightage="20" keywordseo="hari-menon">Hari Menon</keyword> took to Twitter to explain why finding slots on the app is difficult right now.</li><li>All refunds will also be processed in the next 2-3 days, he said.</li></ul>With the coronavirus lockdown, Indians are stuck inside their homes and are looking to get essentials delivered at their doorstep through ‘contactless delivery’. But as they turn to apps like BigBasket, there is growing frustration as delivery slots are unavailable. “I keep waiting for the slot to be available and order within seconds. If you don’t do this, the slot is gone,” said an IT professional in Hyderabad. Twitter too has been flooded with complaints about BigBasket, Grofers and other delivery apps about delayed deliveries, lack of available slots and delayed refunds. BigBasket CEO Hari Menon took to Twitter to explain why finding slots on the app is difficult right now. Menon said that they plan for demand three months in advance including setting up of warehouses, procuring racks, picking devices, crates, hiring people, delivery vans etc. <div type="twitter" handle="harimenon_bb" handlename="Hari Menon" image="http://pbs.twimg.com/profile_images/1243987352654983168/NSLjaE8F_normal.jpg" favoritecount="419" retweetcount="153" status="Over the last few weeks you may have found it hard to find slots on bigbasket (hopefully you're finding it better o… https://t.co/1SWvqk2RbL" createdat="1587407126000" id="1252302372207902720"></div> However, BigBasket had one major issue as the demand went through the roof – its workforce returned to their villages right before the lockdown. “That was something we didn't anticipate, and which meant we couldn't pick orders and deliver them in sufficient numbers to satisfy the 3-6 fold increase in demand,” Menon wrote on Twitter. So, BigBasket thought quickly and turned to look for options and ways to deliver faster and quicker. It partnered with ride hailing app Uber to deliver groceries. The startup also acquired Bengaluru-based milk delivery app DailyNinja for a <a href="https://www.livemint.com/companies/start-ups/bigbasket-acquires-bengaluru-based-milk-delivery-app-11585043760435.html">reported</a> $15-$20 million. Menon said that they are also hiring. “We've been trying to recruit warehouse staff and delivery executives in all cities. However, recruitment and training do tend to take time; also, a lot of the people who applied for jobs were only willing to join after the lockdown. Fortunately, things have improved now, and should get better in the next few weeks,” he wrote. The startup worked on multiple product changes and to bring in transparency they also started showing the number of orders per day on the app. They are also working on refunds, while he added that the volumes are very high right now. “When the lockdown hit and a large chunk of our manpower left for their hometown, we started with delivering 30,000 orders. Today we deliver 2.83 lakh orders and are growing. However, sadly, the expectation is 3-6 times this number,” said Menon. See Also: <a href="https://www.businessinsider.in/business/ecommerce/news/you-wont-be-able-to-order-non-essential-items-on-amazon-flipkart-and-others-till-lockdown-is-lifted/articleshow/75230373.cms">Amazon, Flipkart cannot deliver non-essential items like mobile phones, TVs during lockdown</a>

BigBasket CEO explains why is it difficult to get slots for grocery delivery

<img class="gwt-Image" src="/photo/54880096.cms" /> <keyword id="25903" type="ORGANIZATION" weightage="20" keywordseo="Indians">Indians</keyword> know lifehacks like nobody else. Discounts are a priority while buying a phone or TV. However, for daily essential vegetables, the new age Indians are paying a premium. And the clever Indian knows that buying vegetables online has its own convenience. Not only are the products available ‘claimed’ to be superior in quality but also packed and diced. 
 "We are trying to make it as easy as possible," <keyword id="6379851" type="UNKNOWN" weightage="20" keywordseo="Hari-menon">Hari Menon</keyword>, co-founder and CEO of <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> told the <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>. "From scientific packaging that keeps veggies and fruits fresh to no questions-asked returns, thoughtful initiatives by e-grocers are enticing many to give up age-old habits such as bargaining with vendors and snapping an okra into half to check for freshness." 
 
If statistics of the online grocery company is to be believed, around 70% of Bigbasket's daily orders contain fruits and vegetables. This is a vast improvement over last year when fresh produce did not contribute much to an e-grocer's topline. 
 "When we started selling greens on our website, our primary challenge was assuring the user that despite not touching or feeling the vegetables, they should have confidence in buying from us," <keyword id="2744778" type="UNKNOWN" weightage="20" keywordseo="Albinder-Dhindsa">Albinder Dhindsa</keyword>, co-founder of <keyword id="2466939" type="UNKNOWN" weightage="20" keywordseo="Grofers">Grofers</keyword>, told the ET. 
 "Starting November, we will introduce a quality score on all fruits and vegetables bought through us and our vendors will have to adhere to it," adds <keyword id="478511" type="PERSON" weightage="20" keywordseo="dhindsa">Dhindsa</keyword>. 
 While convenience and quality are primarily responsible for this leap in vegetable sale of the online grocers, it is also noted that Indians are experimenting with food like never before. Now they have requirement of items that the street vendor can’t procure or are too over-priced. Like an avocado in any of the vegetable sellers cost not less than Rs 100 a piece, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> Now was selling the same at the rate of Rs 250 for 3 in Delhi <keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword> until last month. 
 “They are just not cooking Indian food at home anymore," <keyword id="261649" type="PERSON" weightage="20" keywordseo="Mohit-Khattar">Mohit Khattar</keyword>, head, retail strategy at <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword>, which operate Nature's Basket chain of stores told the financial daily. "Along with organic produce, certain herbs (celery, parsley, etc) are often the reason why many people are turning to online stores."

Here’s why Indians are ditching
vendors and buying vegetables online even if it’s costly

<ul><li>Low ticket size and low margin can never be solved through forced low delivery cost, said <keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> on 10-minute grocery delivery. </li><li>Hari Menon, the CEO of BigBasket said that consumers never wanted quick delivery, and that it was thrust on them. </li><li>Legacy e-commerce companies who have not generated significant net profit have no authority to make remarks on quick commerce, said Aadit Palicha, the co-founder of Zepto. </li></ul>A war of words has been raging between the heads of quick commerce companies and their non-quick counterparts in the last few weeks. Entrepreneur and startup investor Ashneer Grover too joined in the conversation — insisting that 10-minute quick commerce delivery has no economics. He was commenting on the Blinkit (by Zomato) delivery personnel strike. “Low ticket size and low margin can never be solved through forced low delivery cost,” Grover tweeted summarising Zomato’s Blinkit journey in three steps — 90 Min (bull run) —&gt; Next day (bear run) —&gt; 10 Min (bull run) —&gt; ?? Quick commerce sector has players like Zepto, Reliance-backed Dunzo, Zomato’s Blinkit and Swiggy’s Instamart. While most of them provide 10-minute deliveries, others too offer lightning-fast deliveries of a wide range of groceries — catching the imagination of consumers. However, quick commerce has had its set of detractors, and recently Hari Menon, the chief executive officer (CEO) of BigBasket stirred up the controversy with his comments against quick commerce. While BigBasket has its quick commerce avatar called BigBasketNow, it delivers its groceries in 30 minutes. ‘Qcommerce was thrust on customers’ Grover’s negative opinion on the economics of quick commerce delivery has another backer. Last week at the Sharrp Summit, Menon said that consumers never wanted quick delivery, and that it was thrust on them. A sensible business case involves 15-30 minutes to make a delivery, he added. “Quick commerce has certain dynamics required for unit economics to work, which means you need a high density of orders, it will be cut off at some point. The Bigbasket model will scale, but quick commerce without density doesn't work,” <a href="https://www.cnbctv18.com/business/companies/consumers-never-wanted-10-minute-delivery-says-bigbaskets-co-founder-16394831.htm">Menon said</a>. Menon’s comments had irked Aadit Palicha, the co-founder of Zepto and a Stanford dropout, who started the business during the pandemic when he was 19 years old. He hit back at Menon at the very summit saying that legacy e-commerce companies who have not generated significant net profit have no authority to make remarks on quick commerce’s sustainability. Palicha, who is preparing to take the company public in the next two years,<a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms"> had told Business Insider India</a> in a recent interview that a large part of his ‘dark stores’ are profitable, and the financial metrics of the company are very strong. Indians take to quick commerce According to Redseer, Indian consumers are taking to quick commerce, and the adoption is much better than in other countries. India has a quick commerce penetration of 13% versus 7% in China and 3% in EU, respectively. The current market size of quick commerce in India is $5.5 billion – and as of now caters to only 1% of the total domestic grocery market. Redseer also says that the total addressable market (TAM) of quick commerce is at $45 billion. “Emerging as one of the fastest growing e-commerce models, quick commerce is fundamentally changing consumer purchase behaviour and the grocery retail market on the whole by providing faster delivery options (in as little as ten minutes) as well as a more convenience-driven shopping experience,” said the Redseer report. Quick commerce players who have set up dark stores that aid quick deliveries, cater to the mid to upper middle-class consumers, and also offer an eclectic mix of products —- in order to stay ahead of the competition from local kiranas. As of now however, around 70% of all quick commerce purchases are top-up orders. Many platforms have informed that milk, eggs and more are the most searched and purchased items for fast deliveries. Stockup purchases like staples and packaged foods are either purchased offline or through online e-commerce. Apart from the time and the economics, the war of words around e-commerce is about average order value (AOV). Many players are trying to push for it by offering free delivery for larger sized orders. A few services like Instamart charge different delivery prices for faster delivery of services. Moreover, the funding winter which has been taking the wind off the sails for most startups has also had its effect on quick commerce players. Moreover, grocery delivery – fast or otherwise – itself is becoming a tougher business to be in. JioMart Express, which offers 90-minute deliveries, has recently shut this service. At the same time last year, fast delivery service Ola Dash folded up. This, however, can be a blessing in disguise, say analysts. “Competitive intensity has slowed down in quick commerce, which gives incumbents room to build scale moats; and the expectation that the life cycle value of the incremental transacting user in quick commerce could be significantly better than in food delivery at the current stage,” says a recent report by JM Financial. When the dust settles on the war of words around quick commerce, it will be incumbent on the existing players to prove their detractors wrong by delivering profitable businesses. SEE ALSO <a href="https://www.businessinsider.in/business/news/samosas-versus-burgers-the-great-indian-dilemma/articleshow/99488590.cms">Samosas versus burgers: The Great Indian Dilemma</a> <a href="https://www.businessinsider.in/thelife/personalities/keshub-mahindra-the-man-who-played-in-a-role-in-building-indias-auto-industry/articleshow/99425922.cms">Keshub Mahindra: The man who thought impossible is possible</a>

The Big Fight: Ashneer Grover wades into controversy around 10-minute delivery

<ul><li><keyword id="964794" type="General" weightage="20" keywordseo="bigbasket" source="Orion">BigBasket</keyword> would also be focusing on one hour delivery through bbexpress within a 6 kilometre radius.</li><li>The company will rely on its own dark stores for these operations and not rely on third- party stores.</li><li>BigBasket plans to launch 700 offline stores across India by the end of 2021.</li></ul>Online grocery delivery startup BigBasket — which was acquired by <keyword id="8555" type="General" weightage="20" keywordseo="tata" source="Orion">Tata</keyword> Digital last year — on Thursday announced its foray into 10-20 minute delivery through bbnow within a 1.5-2.5 kilometre radius. The bbnow service will sell over 3,000 products, the company said in a statement. Besides this, BigBasket would also be focusing on one hour delivery through bbexpresss within a 6 kilometre radius of the store. The bbexpress would offer over 8,000 products. The company will rely on its own dark stores for these operations. Dark stores are micro-fulfillment centres dedicated to rapid online order fulfillment. There is no cap on the number of products that one can order through these platforms, but typical order sizes average between 3-5 products and around ₹400 for the <keyword id="12724312" type="General" weightage="20" keywordseo="quick-commerce" source="Orion">quick commerce</keyword> deliveries, the company said. BigBasket will be a part of Tata Digital’s super app TataNeu. The Tata Enterprise company also emphasised that they have built a “massive” delivery network across India and it is constantly in expansion state. BigBasket launched a chain of offline stores in 2021 and 90 of them are already operational. The company now plans to launch 700 more such stores by the end of 2022. BigBasket was launched in 2010 as an online grocery supermarket. The company today covers an entire spectrum of grocery retail through quick-commerce, physical stores, alongside online grocery sales through the main BigBasket platform. “Apart from consumers who plan and buy their monthly groceries from bigbasket, there is a huge user base comprising those who make unplanned purchases, top-ups and impulse purchases. For impulse and emergency purchases, the bbnow service with its 10-20-minute delivery window is a great option…,” Hari Menon, cofounder and chief executive officer of BigBasket, said in a statement. BigBasket is the<a href="https://www.businessinsider.in/newsletter-23-december-2021/binewsletter/88440534.cms"> last big grocery delivery player</a> to enter the quick commerce space. Its rival Blinkit (previously known as Grofers) and Swiggy Instamart have already entered the <keyword id="12728042" type="General" weightage="20" keywordseo="10-minute-delivery" source="Orion">10 minute delivery</keyword> space in 2021. Besides this, there are companies like <a href="https://www.businessinsider.in/business/startups/news/mukesh-ambani-led-reliance-retail-[%E2%80%A6]0-million-in-google-backed-dunzo/articleshow/88734641.cms">Reliance-backed Dunzo</a> and Zepto who are working in the 10 minute delivery space to cater to the impulse and emergency space. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/dream11s-parent-marks-its-foray-into-web3-by-investing-in-cricket-nfts-startup-rario/articleshow/90972760.cms" data-type="tilCustomLink">Dream11’s parent marks its foray into Web3 by investing in cricket NFTs startup Rario</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-tata-elxsi-hcl-tech-nestle-india-and-other-hot-stocks-on-april-21/slidelist/90971002.cms">Tata Steel, Tata Elxsi, HCL Tech, Nestle India and other hot stocks on April 21</a> <a href="https://www.businessinsider.in/sustainability/article/indian-livelihoods-turn-less-green-sharp-decline-in-hiring-green-jobs-over-the-last-five-years-compared-to-the-global-average/articleshow/90971775.cms" data-type="tilCustomLink">Indian livelihoods turn less green! Sharp decline in hiring green workforce over the last five years compared to the global average</a>

Tata's BigBasket is finally joining Swiggy, Blinkit in 10-minute grocery delivery

Indian e-commerce is booming and grocery is the hottest segment within that. While everyone from Amazon and JioMart to DMart and Grofers use discounts as the primary luure, a recent research report says that BigBasket is leading the pack despite offering lesser discounts compared to most other players. This would be music to the ears of executives at the Tata Group, which bought BigBasket in May 2021 for an <a href="https://economictimes.indiatimes.com/tech/startups/tata-says-acquired-a-majority-stake-in-online-grocery-bigbasket/articleshow/83029366.cms">undisclosed amount</a>, with the goal of adding it to its up and coming super app Tata Neu. According to the report, BigBasket has about 9 million monthly active users, compared to JioMart and DMart’s 5 million each. Though the company has a discount rate of about 14%. JioMart and DMart, on the other hand, offer discounts at a good 17-18%. Other e-grocers — Amazon, Grofers, Flipkart — offer a discount rate of 10%. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MRP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JioMart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amul Milk </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 liter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹840 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹804 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹756 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹756 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aashirvaad Atta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 kg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹450 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹387 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹379 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹379 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maggi Noodles </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">420 gms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹144 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹129 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹120 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹120 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Red Label Tea </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 gms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹265 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹265 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹265 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹263 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lux Jasmine Spal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 gms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹149 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹109 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹96 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹96 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Olay Natural Cream </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 gms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹365 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹284 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹339 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹292 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Jefferies report Jefferies noted that it has the highest discounts in packaged foods, beverages and home care whereas JioMart is best suited for dairy, basic staples and personal care. The report noted that DMart and JioMart’s discounts have remained steady since January 2021, Grofers has noticed a decrease and BigBasket witnessed a spike in discounts. <div type="Video" msid="87011977" hostid="261" title="DMart and JioMart are offering deep discounts to catch up with BigBasket" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87011977"></div> DMart, which has made a name for itself for offering one of the most competitive prices at its stores, seems to be gunning for that title in online retail as well. This would have been necessitated by the fact that 80% of the company’s stores were affected by the second wave of the pandemic leaving the $37 billion retailer to put its onus on online supplies. The shares of Avenue Supermarts, the company which operates DMart chain of stores, have gained 53% this year so far. <div type="image" title="Shares of DMart" msid="86750848" hostid="261"></div> BigBasket — founded in 2011 by Hari Menon, Vipul Parekh, VS Ramesh, Abhinay Choudhari and VS Sudhakar — found itself at the center of the online grocery revolution last year as the country stepped into the lockdown. There was a week-long waiting on platforms like Grofers and BigBasket during the nationwide lockdown, and this led to several new players like Snapdeal, Zomato and others entering the segment temporarily. Meanwhile, DMart, JioMart, Amazon and Flipkart expanded their operations. The Indian online grocery segment clocked $3 billion sales in the calendar year 2020. Overall, groceries segment grew 80% in the financial year 2021, from the anticipated 40%. BigBasket, on the other hand, claims to have recorded gross sale of <a href="https://m.economictimes.com/tech/startups/bigbasket-clocks-1-1-billion-gross-sales-as-pandemic-fuels-online-grocery/articleshow/82778110.cms">₹8,000 crore ($1.1 billion) </a>in FY21. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/supreme-court-says-a-death-certificate-need-not-mention-covid-19-to-claim-governments-50000-ex-gratia/articleshow/86750225.cms">Supreme Court says a death certificate need not mention COVID-19 to claim government's ₹50,000 ex gratia</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion and counting since the pandemic</a>

DMart and JioMart are offering deep discounts to catch up with BigBasket

E-commerce giant Amazon and Alibaba-backed <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> have got approval to deliver liquor in West Bengal, according to a document. Online grocery platform BigBasket said this will be the company's first foray into the country's liquor delivery segment. The clearance also signals Amazon's entry into the space, likely for the first in India. State-owned West Bengal State Beverages Corporation Ltd (BevCo) invited the two companies to sign the agreements for empanelment for home delivery after finding them eligible, as per a notice dated June 19. BevCo, the sole wholesaler of liquor in West Bengal, also invited two Kolkata-based companies -- Senrysa Technologies Pvt Ltd and Golden Goenka Commerce Pvt Ltd for the signing of agreements. Asked when BigBasket would start operations, its CEO Hari Menon told PTI, "I cannot confirm now how soon we will start, but yes it will be the first for the company." Amazon did not comment on the approval. Food ordering platforms <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> have already started delivering alcohol in West Bengal with Kolkata and Siliguri after getting the required approvals, followed by the signing of agreements. Retailer Spencer's and HipBar have also joined the fray as the government allowed <keyword id="9025707" type="UNKNOWN" weightage="20" keywordseo="home-delivery-of-alcohol">home delivery of alcohol</keyword> to reduce footfall at stores amid the coronavirus outbreak. Another eight lesser-known companies, who expressed interest in alcohol delivery, have been asked by BevCo to demonstrate the capabilities of their platforms in executing online orders. Jharkhand was the first state in the country to allow home delivery of liquor by online platforms.

After Zomato and Swiggy, Amazon and Alibaba-backed BigBasket clearance to home deliver liquor in West Bengal

As companies from <keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword> to Amazon put their top dollar in serving <keyword id="9999588" type="UNKNOWN" weightage="20" keywordseo="daily-grocery">daily grocery</keyword> at your doorstep, a new report said on Friday that online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024. According to a joint report by a joint initiative by Bengaluru-based <keyword id="9999587" type="UNKNOWN" weightage="20" keywordseo="market-consulting-firm-redseer">market consulting firm RedSeer</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> (Brand Intelligence), driven by the significant rise in organic adoption during Covid-19, <keyword id="8289993" type="COMPANY" weightage="20" keywordseo="egrocery">eGrocery</keyword> has been on a surge with clocking 1.7 times in gross merchandise value (GMV) in June this year as compared to January. Online grocery will remain steady for the rest of the year to reach more than $3 billion, the report mentioned. "The industry has seen more than 70 per cent ARR (annual recurring revenue) jumps in the last quarter across categories. This brings the opportunity to serve a larger set of customers, and some challenges with it," said Hari Menon, co-founder and CEO of BigBasket. The report found that demand for comfort foods like noodles and cookies, immunity boosters like lemon and hygiene products like sanitizers picked up after the pandemic while essentials remained strong. Snacks and branded foods grew by 5 per cent quarterly pre-Covid, however growth jumped to 75 per cent in the June quarter. Within snacks and branded foods, biscuits and cookies was the largest sub-category and grew the most in Q2. Beverages grew by 2 per cent quarterly pre-Covid, however growth jumped to 50 per cent in Q2. "Personal Care grew by 5 per cert quarterly pre-Covid but jumped to 24 per cent in Q2 due to Covid. "We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands. We are excited to have this opportunity to serve the ecosystem," said Anil Kumar, founder and CEO of consulting firm RedSeer. Home utilities grew by 6 per cent quarterly pre-Covid but jumped to 11 per cent in Q2. Within home utilities, detergents and dishwash were the largest sub-category but grew the least in the last quarter. According to the report, home utilities were not severely affected by the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-best-wildlife-photos-taken-this-year-reveal-a-pair-of-puffins-fighting-foxes-and-a-perfectly-camouflaged-hippo/slidelist/78297252.cms" data-type="tilCustomLink">The best wildlife photos taken this year reveal a pair of puffins, fighting foxes, and a perfectly camouflaged hippo</a> <a href="https://www.businessinsider.in/tech/news/the-senate-plans-to-subpoena-the-ceos-of-facebook-google-and-twitter-to-testify-before-congress-next-month/articleshow/78302874.cms">The Senate plans to subpoena the CEOs of Facebook, Google, and Twitter to testify before Congress next month</a>

RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground

<ul><li><keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> faced a security breach, which ended up compromising the data of almost 20 million users. </li><li>The blog by cybersecurity research firm Cyble said that their research team found the database of BigBasket being sold for over $40,000 in the cyber-crime market.</li><li>However, BigBasket isn’t the first grocery retail startup to have come under the target of hackers. Hyperlocal delivery startup Dunzo too was targeted in July 2020.</li><li>BigBasket is also reportedly in talks with the Tata Group for an investment, where the 152-year old conglomerate could pick up a 50% stake in the <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> retail startup. </li></ul>One of India’s popular e-grocery startups, BigBasket, has faced a security breach that compromised the data of almost 20 million users. The blog by cybersecurity research firm <a href="https://cybleinc.com/2020/11/07/bigbasket-indias-leading-online-supermarket-shopping-allegedly-breached-personal-details-of-over-20-million-people-sold-in-darkweb/">Cyble</a> said that their research team found the database of BigBasket being sold for over $40,000 in the cyber-crime market. BigBasket admitted that a breach had happened and that it is currently evaluating the same. “A few days ago, we learnt about a potential data breach at Bigbasket and are evaluating the extent of the breach and authenticity of the claim in consultation with cybersecurity experts and finding immediate ways to contain it. We have also lodged a complaint with the Cyber Crime Cell in Bangalore and intend to pursue this vigorously to bring the culprits to book,” said the company spokesperson. However, an IANS report said that the complaint had not been confirmed by the Cyber Crime Cell. Cyble said that the <keyword id="41677" type="PERSON" weightage="20" keywordseo="hacked">hacked</keyword> data could mean that crucial information like users’ full names, email IDs, password hashes (potentially hashed OTPs), pin, contact numbers (mobile + phone), full addresses, date of birth, location, and IP addresses of login could have been leaked. BigBasket acknowledged that the hackers could have accessed email ids, phone numbers, order details and addresses, but the financial data, including credit card numbers, remains confidential and secure. “We have a robust information security framework that employs best-in-class resources and technologies to manage our information. We will continue to proactively engage with best-in-class information security experts to strengthen this further,” said the company. BigBasket is the second online grocery retailer to be targeted BigBasket has come under the hackers’ scanner at a time when the e-grocery market has gained popularity during the coronavirus lockdown. BigBasket, along with Grofers, has been one of the key players in the segment – BigBasket saw a 3-6 fold increase in demand, its CEO Hari Menon had said on Twitter in April. However, BigBasket isn’t the first grocery retail startup to have come under the target of hackers. During the coronavirus lockdown, another hyperlocal delivery startup – Dunzo had reported a breach in its user data. In July 2020, the personal data of 3.4 million users of Dunzo was exposed. “Our investigation so far suggests that the servers of a third party we work with were compromised. This allowed the attacker to get unauthorized access and breach our database. This database contained a user phone number and email address information. No payment information like credit card numbers was compromised as we do not store this data on our servers,”<a href="https://medium.com/dunzo/your-security-is-our-top-priority-def5ebe5db12"> Dunzo had said in a statement then. </a> BigBasket’s big ambitions Meanwhile, BigBasket is also reportedly in talks with the Tata Group for an investment, where the 152-year old conglomerate could pick up a 50% stake in the online grocery retail startup. According to <a href="https://timesofindia.indiatimes.com/business/india-business/temasek-to-back-bigbasket-in-400mn-round/articleshow/78372845.cms">reports</a>, BigBasket was also looking to raise $300-$400 million in funds as demand grew for online grocery. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/top-cyber-espionage-groups-that-have-india-in-their-crosshairs/slidelist/79120867.cms">Top cyber espionage groups that have India in their crosshairs</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-aims-to-disburse-1000-crore-in-small-loans-by-march-thats-twice-as-much-as-last-year/articleshow/79121669.cms">Paytm aims to disburse ₹1000 crore in small loans by March – that's twice as much as last year</a>

BigBasket, the e-grocery startup which Tata Group is eyeing, admits a data breach of over 20 million users

<ul><li>After reports of <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s partnership with Walmart to build a super app, it now plans to bolster its e-commerce play with a 50% stake in <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>. </li><li>The deal could also see the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> buy out Chinese giant Alibaba’s stake in BigBasket, said a report by Economic Times. </li><li> India’s richest man Mukesh Ambani also has big dreams in the grocery sector with his e-commerce bet – <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>. </li></ul>The 152-year conglomerate TATA Group is racing ahead with its e-commerce dreams as the Indian online retail market grows by leaps and bounds. After reports of Tata’s partnership with Walmart to build a super app, its plans to bolster its e-commerce play through acquisitions are getting stronger. The BigBasket chase According to a report by <a href="https://economictimes.indiatimes.com/tech/technology/bigbasket-in-talks-to-sell-majority-stake-to-tata-group/articleshow/78902595.cms">ET</a>, Tata is now eyeing a 50% stake in BigBasket – India’s leading online grocery startup. With the reported acquisition, the Tata group could shell out $500-$700 million and could also potentially buy out Chinese giant Alibaba’s stake in BigBasket, said the report. BigBasket has not yet officially commented on the reports. According to <a href="https://timesofindia.indiatimes.com/business/india-business/temasek-to-back-bigbasket-in-400mn-round/articleshow/78372845.cms">reports</a>, BigBasket was also looking to raise $300-$400 million in funds as demand grew for online grocery. BigBasket, the first grocery unicorn in the country, has seen a massive uptick in orders and users during the coronavirus lockdown. BigBasket saw a 3-6 fold increase in demand, its CEO Hari Menon had said on Twitter in April. A majority stake in BigBasket would give the Tata Group enough ammunition to take on major players like <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and JioMart. Meanwhile, the group is also said to be in talks with Walmart for a possible <a href="https://www.livemint.com/companies/news/walmart-looks-to-join-hands-with-tatas-11601337906091.html">$25 billion</a> infusion from the American retail giant to build a super app. Everybody wants a piece of the pie India’s online grocery market, which was worth $1.9 billion in 2019, is expected to hit $18 billion by 2024, said a report by RedSeer. One of India’s hottest sectors currently, the online grocery market is seeing increased competition. India’s major e-grocery drivers <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JioMart – supported by Reliance Retail and its acquisition of Future Retail </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon – Amazon Fresh, Amazon Pantry, investment in retail outlet MORE </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart – Flipkart SuperMart, investment in Ninjacart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart – DMart Ready </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket – Recently acquired DailyNinja </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grofers </td></tr></tbody></table> India’s richest man Mukesh Ambani has big dreams in the grocery sector with his e-commerce bet – JioMart. Although Reliance’s acquisition of Future Retail is currently on hold due to a legal battle with Amazon, Ambani and Future Group are confident of closing the deal to conquer India’s retail segment. The sector also sees rising competition from India’s second richest man Radhakishan Damani whose retail venture DMart is set to ramp up its e-commerce offerings. Damani has also shut down two of its massive stores in Mumbai and converted them into fulfillment centres to speed up e-commerce deliveries. Meanwhile, the online race is heating up with the likes of Amazon, Flipkart, BigBasket, and Grofers, looking to garner a bigger share of the market with acquisition and expansion plans. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/ajay-piramal-believes-that-if-banks-wont-lend-to-long-term-projects-india-will-need-to-revive-the-likes-of-idbi-and-ifci/articleshow/78906135.cms">EXCLUSIVE: Ajay Piramal believes that if banks won't lend to long-term projects, India will need to revive the likes of IDBI and IFCI</a> <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a>

The 152-year old Tata Group is chasing its e-commerce dreams as competition rises from JioMart, Amazon, and others

A new JP Morgan report has cited Sanjiv Mehta, chief of Hindustan Unilever and Hari Menon, co-founder &amp; CEO, BigBasket, saying that Covid-19 has caused unparalleled disruption in the India story of <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> penetration. Forced consumer trials, leading to a sustainable change in consumer behaviour, has triggered a three times uptick for <keyword id="2057213" type="PERSON" weightage="20" keywordseo="Big-Basket">Big Basket</keyword>. New customers stand at two times for Big Basket. Adoption rates have also picked up significantly in Tier 2 cities, outpacing Tier 1/Metros. Even as growth rates have stabilised post easing of lockdown, strong customer retention metrics (especially new customers) indicate a sustainable shift in penetration for this channel, JP Morgan researchers reported. Further, higher order density, pick up in ticket sizes and moderation in promotional intensity have culminated in expansion in the overall industry profit pool for e-grocers. While promotional intensity could revert to earlier levels, increased order density could well be a meaningful margin tailwind. For FMCG companies, online channel helps accelerate innovation with better handle on customer insights, and agility in identifying emerging trends. Online <keyword id="6372044" type="UNKNOWN" weightage="20" keywordseo="grocery">grocery</keyword> retailers too gather customer data and help brands optimise tactical promotions. Implications include consolidation underway in modern trade (MT) and emergence of omnichannel. Covid-19 disruptions have underlined the benefits of e-commerce, thus accelerating online adoption by modern and general trade. Even as offline retailers step up digitisation and online investments, they need to be mindful of cross-channel cannibalisation and target unique customer cohorts. Mehta and Menon said the focus should therefore be to add new customers on the online platform, necessitating a differentiated approach (aggregators/ market places/ grocery portals). On a strategic level, online/offline channel needs to be dealt with separately even as offline retailers increasingly adopt an omni-channel model. Mehta and Menon said a general trade (GT) channel is underway with rising digital technology intervention. Proximity and convenience has been a core driver of consumer behaviour over the recent months, thus magnifying the criticality of mom-n-pop outlets. With 10 million+ outlets, general trade accounts for 75-80 per cent of fast moving consumer goods (FMCG). Even as MT and e-commerce channels have continued to scale up, GT will continue to remain the most important channel over the long term, they said. Further, digitisation of mom-n-pop outlets is driving improved demand capture/fulfilment, optimised inventory, digital payments and superior customer servicing efficiency enabling them to upgrade and compete with the channels of the future. <keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword> is participating in the digitisation journey for general trade e a <keyword id="9990702" type="UNKNOWN" weightage="20" keywordseo="shikhar-app">Shikhar app</keyword> now has 0.23 mn outlets onboarded and has seen a two times rise in order value and number of SKUs ordered (vs pre-Covid-19 levels). Private labels remain a challenge for established brands. The strategy by online retailers has primarily been on entering spaces with modest competitive intensity and limited presence of established branded players. Key spaces for e-grocers (like Big Basket) include: fresh fruits and vegetables (leveraging an integrated farm-to-fork model); emerging categories like health foods/organic; general merchandise; selective presence in large FMCG categories (soaps, detergents); and categories with few leading brands (Snacks, Batter, Toilet cleaners). While established FMCG players recognise private labels as a source of incremental competition, they derive confidence from their well reckoned ability to fight off regional brands across multiple categories/markets over the years.

Online grocery market is booming – HUL's Shikhar app now gets double the orders, Big Baskets rakes in thrice the volume

<ul><li>According to RoC filings, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> has raised $150 million at a reported valuation of $2.3 billion. </li><li>The funding was led by Bigbasket’s earlier investor Alibaba and was joined by new investor Mirae Asset. </li><li>This will give Bigbasket more power to take on new entrants like Swiggy in the Indian online grocery space. </li></ul>Grocery <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Bigbasket is the latest entrant into India’s fast-growing unicorn club. Bigbasket has <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">closed</a> its Series F round of funding with an investment of $150 million, according to filings with the Registrar of Companies (RoC). With this round, Bigbasket’s valuation has more than doubled to reach a <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">reported </a>$2.3 billion. The latest round of funding was led by the startup’s existing investor Alibaba while South Korean firm Mirae Asset joined its group of investors. With growing competition in the space, Bigbasket has been fast looking at ways of expansion. In a recent <a href="https://www.moneycontrol.com/news/business/bigbasket-aims-to-double-revenue-growth-to-rs-7000-crore-in-fy20-3590891.html">interview</a>, Hari Menon, co-founder and CEO of Bigbasket said that the company is looking at doubling its revenue to ₹70 billion in FY20. The <keyword id="7475397" type="UNKNOWN" weightage="20" keywordseo="indian-grocery">Indian grocery</keyword> sector has seen a lot of action lately. Foodtech unicorn Swiggy recently joined the grocery sector with <keyword id="7317638" type="UNKNOWN" weightage="20" keywordseo="Swiggy-Stores">Swiggy Stores</keyword> and has already piloted the operations in Gurugram with over <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. But it’s not just startups that are interested in the grocery sector. Reliance industries-controlled Reliance Industrial Investment and Holdings Ltd (RIIHL) has <a href="https://tech.economictimes.indiatimes.com/news/startups/reliance-industries-subsidiary-inks-pacts-to-acquire-grab-a-grub-and-c-square-info-solutions/68245460">reportedly</a> picked up stake in Mumbai-based hyperlocal delivery startup Grab. See Also: <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a> <a href="https://www.businessinsider.in/milkbasket-strengthens-to-take-on-rivals-swiggy-and-bigbasket-acquires-veggie-india/articleshow/68590658.cms">Four years into the business, Milkbasket has acquired one-year-old startup Veggie India</a>

Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

<ul><li><keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">Online grocery</keyword> segment will grow by 55% to reach 1.2% of the market by 2023, said a report by RedSeer and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>. </li><li>Today online grocery startups account for 40% of total e-commerce funding in India. </li><li>Startups in the online grocery sector have raised $665.70 million in funding in 2019 so far.</li></ul>The Indian online grocery segment is growing fast and how. Currently the online food and grocery retail holds a miniscule part of online retail with only 0.2% penetration. But it is predicted to grow by 55% to reach 1.2% of the market by 2023, said a report by RedSeer and BigBasket. The market size of this segment will also expand to $10.5 billion, the report predicts. The customers’ trust on online shopping along with the growing presence of e-grocery players will drive this growth in the sector, added the report. “The online grocery segment has been one of the fastest-growing e-commerce verticals in India and will continue to flourish in both metro and non-metro cities in the years to come,” said Hari Menon, Co-Founder and CEO, bigbasket. Online grocery vs E-commerce in India As Indians are used to visiting the kirana store in the next lane, online grocery has been growing slowly since onset in 2010. In the past few years however it picked up speed. As the number of e-commerce users grew it had a slow but steady effect on online grocery purchases. From a barely any presence in 2010, today online grocery startups account for 40% of total e-commerce funding in India. 
 
 
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 So, what led to this growth? “The online grocery space in India has accelerated due to the increasing penetration of internet in millions of households across the country, rise in smartphone usage, enhanced customer comfort and trust in e-tailing and a better value for money for customers in online vs offline stores. Besides, availability of value for money products, better savings vs offline stores and cashback led by subscription-based programmes further ensure affordable pricing and scheduled delivery to make this space exciting,” said Albinder Dhindsa, Co-founder, <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>. Startups in the online grocery sector have raised $665.7 million in funding in 2019 so far, with Bigbasket turning a unicorn. Grofers, a soonicorn (soon to turn unicorn) made a comeback with a $200 million funding led by Softbank. Here are the top 20 funded startups in the e-grocery segment. 
 
 
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 Tier 2 &amp; 3 cities to lead the next phase of e-grocery Online grocery’s dream to reach $10.5 billion by 2023 will not be fuelled solely by urban growth. A big share of this will come from Tier 2 and 3 cities. Grofers co-founder Dhindsa believes that the next big thing in e-grocery is increasing penetration of e-commerce in tier-2 markets and amongst lower SECs (socio-economic classification) in metros. “E-grocery will bring more shoppers into e-commerce as a whole and already 15% of our new users every month are first time online shoppers. Growing disposable income of the consumers in Tier II markets and the adoption of 4G has already laid a strong foundation for the next wave of growth for e-commerce,” he said.

Online grocery may become a $10 billion industry by 2023 but even then only one in 100 Indians will be buying

<img class="gwt-Image" src="/photo/51630084.cms" /><a href="http://www.businessinsider.in/searchresult.cms?query=kishore+biyani&amp;sortorder=effectivedate">Future Group CEO Kishore Biyani</a>, who has always vouched for same level-playing field for online and offline retailers, once again hit out at online marketplaces and this time it is <a href="http://www.businessinsider.in/searchresult.cms?query=bigbasket&amp;sortorder=effectivedate">Bigbasket</a>. 
 
After the Centre, in new guidelines for online marketplace, stated <a href="http://www.businessinsider.in/searchresult.cms?query=fdi&amp;sortorder=effectivedate">FDI</a> is not allowed in inventory-based e-commerce, Biyani said India’s leading online grocer <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> should be termed as illegal. 
 
Biyani said under the new rules, Bigbaskset should ideally be shut immediately. 
 
"As we speak, Bigbasket's inventory-led model has become totally illegal as per latest government notifications. They don't have any seller and directly sell to the consumers," said Biyani. 
 
READ ALSO: <a href="http://www.businessinsider.in/100-FDI-in-marketplace-could-change-game-plan-of-Flipkart-and-Amazon-consumers-affected-too/articleshow/51611897.cms">100% FDI in marketplace could change game plan of Flipkart and Amazon; consumers affected too</a> 
 
Not just Bigbasket, Zivame, <a href="http://www.businessinsider.in/searchresult.cms?query=jabong&amp;sortorder=effectivedate">Jabong</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=myntra&amp;sortorder=effectivedate">Myntra</a> also have inventory-led businesses. 
 
Bigbasket mostly operates an inventory-led model and garners about 33% of total sales from its private brands. 
 
"We are looking at our legal position. The view is that there is no cause for concern," Hari Menon, CEO and co-founder, Bigbasket, told TOI. 
 
The Bigbasket raised $210 million, mostly from foreign investors. 
 
(Image: Thinkstock)

Future Group’s Kishore Biyani trains guns on an online grocer now, wants it shut

<img class="gwt-Image" src="/photo/50024547.cms" /><keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>, one of the country's second-most valuable ecommerce firm focused on a specific segment, is all set to get a funding of around Rs 800 crore, or $ 120-million. 
 
Online grocer BigBasket is going to get funding from US-based Sands Capital, International Finance Corporation and Bessemer Venture Partners. 
 
Reportedly, the deal is going to take at least two weeks. Presently, BigBasket's valuation is Rs 2,100 crore, or about $320 million. 
 
Through the latest funding round, it will be able to keep its growing competitors such as Grofers and PepperTap behind. 
 
Recently, BigBasket’s chief executive Hari Menon had said that he expected gross merchandise value of $300 million, or Rs 2,000 crore, for the ongoing financial year ending in March 2016. 
 
BigBasket, which has one-third of its sales from its own brands such as Fresho and BB Royal, ensures delivery of majority of the products as it operates on an inventory-based model. 
 
“We cater to both consumer needs, bulk pre-planned as well as on-demand emergency top-ups, with an inventory-led approach. For bulk orders, we fulfill orders through our warehouses and for one-hour express deliveries, we have set up about 63 'dark stores' around the city," Menon had said. 
 
Apparently, BigBasket handles about 2,700 orders per day.

You Searched For "hari menon" and got 14 results

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Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

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BigBasket gets bigger, to get Rs 800 cr funding

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