LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

This is how BigBasket intends to hit $1 bn GMV mark

Goal one is to reach Rs 300 crore GMV a month in September; goal two  is reach  Rs 500 crore GMV a month in March 2019 ; and  goal three to become a $1 billion-GMV company in March 2020. To get there, BigBasket has identified a few key initiatives — from vending machines and subscription service to becoming the most preferred partner to farmers

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
This is how BigBasket intends to hit $1 bn GMV mark
BigBasket has partnered with Fireside Ventures backed startup, Kwik24, the maker of the smart vending machine. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Tue, Apr 17, 2018
10:56 am
ZeeBiz WebDesk
RELATED NEWS
Bigbasket faces potential data breach; details of 2 cr users put on sale on dark web Bigbasket faces potential data breach; details of 2 cr users put on sale on dark web
Private Jobs: Bigbasket to hire 10,000 people for warehouses, home delivery Private Jobs: Bigbasket to hire 10,000 people for warehouses, home delivery
Coronavirus Lockdown: Get free home delivery of food, more, just call WhatsApp number Coronavirus Lockdown: Get free home delivery of food, more, just call WhatsApp number
Bigbasket, Grofers urge people not to panic as orders surge Bigbasket, Grofers urge people not to panic as orders surge
BigBasket to add 850 e-vans, 2,000 e-bikes by 2020; to induct brands like Hero, Okinawa, Li-on BigBasket to add 850 e-vans, 2,000 e-bikes by 2020; to induct brands like Hero, Okinawa, Li-on

While the hullabaloo in the media over the second half of last year was over the possibility of an Alibaba investment in BigBasket, in the company each team member knew exactly what they were working towards. Goal one is to reach Rs 300 crore GMV a month in September; goal two is reach Rs 500 crore GMV a month in March 2019; and goal three to become a $1 billion-GMV company in March 2020. To get there, BigBasket has identified a few key initiatives — from vending machines and subscription service to becoming the most preferred partner to farmers.

Vending machine: The first is installing smart vending machines in apartment blocks. The pilot is already running in Bengaluru, covering around five apartment complexes. BigBasket has partnered with Fireside Ventures backed startup, Kwik24, the maker of the smart vending machine. For the residential complexes part, BigBasket has an exclusive tie up right now with the vending machines having only the e-grocer’s branding and products. Consumers can access the vending machines with the BB Instant app at present. However, this will be integrated into the main BigBasket app eventually. Each vending machine has close to 40-45 SKUs, covering daily essentials like fruits, vegetables, bread, dairy and eggs, along with products like juices, soda and snacks.

Hari Menon, co-founder of BigBasket, reveals that the plan is to have at least 10,000 such machines across the country. Subscription service driven by milk: This is directly linked to the objective of increasing frequency of orders. The consumer will have to order milk for next morning’s delivery, as it is an opt-in service. She will have the option to order for other essentials at that time. This service will also be available for specific apartment complexes.

Menon says the company is preparing to build the operations ground up. While for BigBasket the supply chain is already in place, the company needs to get on board apartment complexes and launch a new delivery time slot of 6.30am to 8.30am. However, he says he is also open to an acquisition and is evaluating both options. Private label scale up: BigBasket continues to rapidly scale up its private label portfolio. It launched a new label, GoodDiet, for the health conscious customer a few months back. In fact, healthy foods will be a focus for BigBasket, especially from the private label perspective.

“Our data shows that people are interested in the ingredients that go into a food product. We know that customers zoom in on labels,” says Menon. Furthering infrastructure: Menon, who went to China mid-March to understand the Alibaba processes better, says, “We need to learn about scaling from them. The scale they have is mind blowing. We will have teams working closely — across warehousing, supply chain and last-mile logistics and technology,” he says.

While the company does not intend to expand the number of warehouses and dark stores, each of these will become bigger. Courtesy: YourStory.com
 

(By Radhika P Nair, DNA Money)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
BigBasket
RELATED NEWS
Bigbasket faces potential data breach; details of 2 cr users put on sale on dark web Bigbasket faces potential data breach; details of 2 cr users put on sale on dark web
Private Jobs: Bigbasket to hire 10,000 people for warehouses, home delivery Private Jobs: Bigbasket to hire 10,000 people for warehouses, home delivery
Coronavirus Lockdown: Get free home delivery of food, more, just call WhatsApp number Coronavirus Lockdown: Get free home delivery of food, more, just call WhatsApp number
Bigbasket, Grofers urge people not to panic as orders surge Bigbasket, Grofers urge people not to panic as orders surge
BigBasket to add 850 e-vans, 2,000 e-bikes by 2020; to induct brands like Hero, Okinawa, Li-on BigBasket to add 850 e-vans, 2,000 e-bikes by 2020; to induct brands like Hero, Okinawa, Li-on

LATEST NEWS

Maharashtra Board Class 10, Class 12 exams postponed—Check what minister said about CBSE, ICSE, IB and Cambridge boards

Anil Singhvi’s Strategy April 13: Day support zone on Nifty is 14,200-14,250 & Bank Nifty is 30,350-30,550

Gold Price today 13-04-2021: Expert reveals target of Rs 46,350; Rs 50,000-mark eyed

The Kapil Sharma Show fees per episode: REVEALED! Kapil Sharma, Krushna Abhishek, Bharti Singh, Archana Puran Singh and others - This is what they earn

Samsung Galaxy A52 review: All-rounder smartphone in mid-range - amazing design

Bank Holiday April 2021: Banks to remain shut in coming weeks, is your city on this list?

Bihar Police constable PET final result 2021: CBSC declares result on csbc.bih.nic.in; steps and direct link here

USD vs INR: Indian Rupee at 9-month low against US dollar - Expert decode the impact

Gold Price Today 12-04-2021: Resistance for Gold MCX is Rs 46819 and 46932 while the support is at Rs 46394 and Rs 46550

WATCH VIDEO: Expert shows how simple steam inhalation can protect you against Covid-19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved