It is already operationally profitable in its home market, Bangalore. BigBasket currently has a kitty of over 10, products across 1, brands and overactive customers across five cities. It expects to close financial year with revenues of around Rs.
Marketing Tools Sell Groceries Online through your Virtual Online grocery business plan india If you have a brick and mortar store then its better if you create a grocery store and promote your products online.
Most millennials look online to by products. With an increasing propensity towards digital commerce its better if you have a virtual store to grab peoples attention. The cool part about starting an online store is that it is simple and much cheaper than setting up a corporeal structure.
Which makes these platforms much palpable for users to fiddle around and create a virtual store. A small signup and you will own an online store. When you own your own virtual shop, you get the advantage of customising and optimising your digital presence the way you prefer. With your virtual store you get the liberty to manage the website traffic and offer them a personalised experience.
Then during festive seasons like Onam, you will get an opportunity to display additional products that are relevant to the festival. Second thoughts, Why not offer a discount? It helps to add value to the target customers discounts are great when you have a set plan to.
List known grocers in the area and discuss partnership opportunities This strategy is best suited if you are planning to start with a franchise model or a marketplace model. Here you can try and cater to a diverse audience.
It can be done by replicating the business model made for an online marketplace. Here you will tie up with multiple offline shops and will process the order based on the proximity towards the customer.
You can also create a market place to sell fruits and vegetables. In the online marketplace you can list all the local shops and can charge them a subscription fee every month or a percentage of what ever they sell commission base.
Foremost step is identifying the potential areas and listing the grocers who would be interested in this model. As mentioned before, online franchise grocery store involves you collecting the orders, and then getting it delivered through a grocer who is closest to the area where the delivery is to be done.
So you need to have a strong network of grocers who are willing to take up your orders and fulfil them on priority.
We will next look into three most important aspects of this model: For the past few decades, we had local markets and kirana stores that sell fresh vegetables and fruits. You need to educate the people about the convenience the solution offers. After all, your business model is threaded around the core concept of the customer first.
You customers can sit on their couch and can place an order online. Competing with well-funded brands When you are competing with well-funded grocery brands like BigBasket who make use of celebrities like Shahrukh Khan as their brand image, you need to be careful with your marketing strategies and where you make your investment.
What you can do is to focus on a specific market segment and concentrate on the segment. Start small, serve to a specific audience, monitor, analyse, and learn. Once you excel in a specific market segment then it becomes easy to replicate the winning strategy to another cohort. Marketing Spend As a fruit and vegetable stall, your investment is limited.
Every decision needs to be wisely optimised with the budget. Find a well-balanced strategy that consumes the least investment. Plan and be prepared, it is not a wise strategy to invest in areas that you are not confident. When comes to marketing if you lack the wit to decide which marketing channel is best for you.
Please feel free to reach out to an expert who can help you invest in the right marketing channel.
How to Make the Discounted Strategies a Profitable Running multiple discounted strategies may not be the right solution to create loyal customers.
If discounts and offers are not adding value to the net profit, then its something that you may need to reconsider Or you can plan an execute drip campaigns to build a strong relationship with the customer.
Sales are the lifeblood of business but need not be justified just with the turnover. You need to generate enough profit out of your business. With increasing online competition and raging price wars, online retailers need to consider strategies that will help them bring back the customer and make repeated sales.
If you are planning to start an online store that sells organic groceries, there happens to exist a perceived value among the customers.
Never let a discounted strategy compromise your perceived value.A Sample Online Grocery Store Business Plan Template. If YES, here is a complete sample grocery store business plan template & feasibility study you can use for FREE. The introduction of technology and subsequently online grocery cum retail store has indeed helped in reshaping the industry.
A Sample Online Grocery Store Business Plan Template. If YES, here is a complete sample grocery store business plan template & feasibility study you can use for FREE. The introduction of technology and subsequently online grocery cum retail store has indeed helped in reshaping the industry.
Grocery Delivery Business: Ideas and Plan to Start it from Scratch - Every home nowadays has requirement of home delivery of various things like grocery, foods and How to Start and Run a Music Store Business: Plan & Tips for Starting - . Online grocery business is expected to grow at a rate of % per year in majority of the cities in India and is expected to cross $25 billion by the year The growth is so rapid that major players such as Ola, Flipkart and Paytm are already investing in this segment.