Online grocery platform Grofers eyes to convert 200 stores into its own branded outlets
Grofers to convert 200 brick-and-mortar stores into its own branded outlets in Delhi NCR.
Grofers is focused to convert Kirana stores of residential areas having middle and the lower-middle-class population.
Grofers is offering training to converted stores about loyalty schemes and ways to handle point-of-sale.
Innovation is the mother of growth. Growth in any sector can only be achieved if we keep on putting continuous efforts and continue expanding our portfolio of services to enhance our offerings and revenue from the market. Now online grocery platform Grofers is also working aggressively to enhance its business portfolio. Now in a few months, it is going to convert 200 brick-and-mortar stores into its own branded outlets. It has initiated working on this business model and has already converted 100 Kirana stores and eyes to convert more.
According to Grofers Vice-President and Head (Offline Business) Yeshu Bansal, “We have transformed several grocery stores into our own branded offline stores, around 100 Kirana stores in Delhi-NCR have been a part of this move that initiated in November last year. We are focused to have 200 such stores in the coming few months.” He also added we are also focused to have this move in Bangalore soon. These converted stores are dedicated towards the base of offline buyers that is not anyhow related to the already existing and growing online consumer base.
He also said we are using AI and technology to find out what is selling in high amount in the store and which material have more demand so as to assist shopkeepers to maintain stock in the same way. We will also give training to these stores about loyalty schemes, ways to handle point-of-sale, and retention and several other areas.
Grofers has launched a toll-free number for the interested partners from Delhi-NCR to reach for enrolment. Company is converting Kirana stores of residential areas where the middle and the lower-middle-class population can be found. The aim behind this move is to assist the retailer scale up his business by getting more footfalls, and for us, it helps push their homegrown brands (private label products) as well.
On seeing towards the funds raised by Grofers. It has become the highest fundraising company in India’s online grocery delivery industry. It has recently raised $200 Million in its Series F funding round. The funding round is led by Softbank Vision Fund. Its existing investors Sequoia Capital, KTB Ventures and Tiger Global also participated in the funding round.
Grofers was founded by IITians Albinder Dhindsa and Saurabh Kumar. Currently, Grofers operates only in Eastern Region out of Kolkata. By using existing warehouses in the NCR region, the company is going to spread its services to nearby cities such as Rohtak, Bhiwadi, and Meerut. Grofers works with 4,000-5,000 small merchants who assist the company in fulfilling its orders and assists Grofers in delivering the order at the aforementioned time. Grofers is looking forward to adding more and more retail stores on its platform to make a successful entry into the market and assist in making the life of folks easier.
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