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Online grocery Stores lock horns in a battle for tier II cities
With the influx of internet and growing smart phone users commerce is thriving in tier 2 cities of india like ludhiana rajkot Varanasi Panchkula company offering delivery of daily groceries fresh fruits , vegetables are making inroads in all small and big cities of india.
While Pepertap and Local banya which launched with much fanfare have already closed shop due to poor unit economics a few like big basket dailyfreshkart and grofers are booming due to proper infrastructure and cost management while at the same time not compromising with quality and service
“ India is standing on the verge of becoming the most internet savvy and booming economy of the world . India is bustling with young population with there minds in technology and their fingers on mobiles it make sense to provide them with a reliable service , one which they can depend on ” said Pankaj from Dailyfreshkart.com which is doing amply well in ludhiana
He further added “ We have our eye set on tricity chandigarh , panchkula , mohali in the short run and also expand in cities like delhi , banglore mumbai which are a hub of commercial activity ”
according to latest senses punjab has 68% mobile users which is amongst the highest in the country it make sense for startups like dailyfreshkart to expand to all corners of punjab before venturing into other states . although vc funds and angel funds are drawing up since the beginning of 2016 startups with good unit economics and reasoning are thriving in small towns like ludhiana and would continue to do so.
India is the world’s fastest growing market, after China. It has seen a significant growth in last few years, generating a lot more legroom for growth since still only 33% of the world’s second largest population is connected to the internet.
Of which about 80% of India’s internet users use mobile devices to access the internet, making us a app-first market, providing ample space for innovation and oppurtunities for new business models let by technology.
Online grocery shopping will grow an estimated three-fold over the next couple of years said industry insiders, with consumers spending more and more time online to buy daily need products, according to a report released earlier this year.
Starups like DailyfreshKart already increasing sales with their online efforts and compete with Amazon and other e-commerce giants, if reports from Food Marketing Institute and Nielsen is anything to go the online marketplace is likely to capture significant market share in the years ahead from the mom-and-pop stores.
Almost a quarter of online shoppers currently buy some groceries online, which also include fresh fruits and vegetables significantly up since demonetisation and more than 65 percent will at sometime engage with online food shopping within next decade. With recent reports suggesting players like Bigbasket crossing 25k customer market in level two cities this sector is something to watch out for.
another factor for buying online is wide range of products availabe, since internet and high speed broadband is steadily making way into Cities Like Ludhiana and surrounding areas .
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