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Can BigBasket Find Its Quick Commerce Groove?

Inc42 · 9m ago

Can BigBasket Find Its Quick Commerce Groove?

Quick commerce, characterized by fast and on-demand shopping solutions, has gained popularity among Gen Z and millennial consumers in urban areas. BigBasket, a prominent player in the Indian market, is expanding its quick commerce wing, which offers deliveries in 10 minutes compared to the two to four hours of slotted delivery. By merging both services, BigBasket aims to provide a unified and streamlined browsing experience for customers. The company believes that quick commerce will become the norm for grocery shopping, with almost all deliveries being done through superfast platforms in the future.

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Quick grocery has caught on, and BigBasket is smiling

Livemint

Livemint · 1y ago

Quick grocery has caught on, and BigBasket is smiling

Bigbasket's quick-commerce arm, BB Now, backed by Tata Digital, expects to become profitable within six months. Although the overall profitability target for the grocery startup has been moved to early 2025, the quick-commerce sector has provided significant growth due to its convenience. Bigbasket aims to maintain profitability by tightly controlling costs and leveraging its existing infrastructure. Competition is fierce in the quick-commerce market, with high cash-burn rates and significant losses to sustain growth. Bigbasket views its quick-commerce arm as a marketing channel to drive more customers to its main grocery business.

Tata Group-backed BigBasket plans IPO in two years as business booms

VCCircle

VCCircle · 5m ago

Tata Group-backed BigBasket plans IPO in two years as business booms

India's BigBasket, backed by Tata Group, plans to go public within two years, aiming to capitalize on the increasing demand for quick online deliveries. The company intends to double its business by March 2026 and expand from 35 to about 70 Indian cities. Amidst a booming quick commerce industry, BigBasket, whose revenue is majorly from quick commerce, is also broadening its product range to include electronics, pharmaceuticals, and fashion.

Tata-Owned BigBasket To Fully Pivot To Quick Commerce Model Next Month

Inc42 · 11m ago

Tata-Owned BigBasket To Fully Pivot To Quick Commerce Model Next Month

BigBasket will offer exclusive 10-30 minute delivery through its quick commerce arm BBNow, focusing on this vertical which accounts for 50% of its sales. The move comes as BigBasket aims for a public listing by 2025.

BigBasket set to fully play in quick commerce league

Economic Times

Economic Times · 11m ago

BigBasket set to fully play in quick commerce league

BigBasket, India's largest e-grocer, plans to transition into a full-scale quick commerce platform to meet the rising demand for rapid deliveries. The company's BB Now, which currently offers 10-30 minute delivery service, will exclusively focus on quick deliveries starting next month. BigBasket aims to generate $1 billion of its $1.5 billion sales target for the year through quick commerce. By adopting multiple dark stores and large warehouses, the company plans to address demand by carrying a wide range of grocery and non-grocery items. Other players in the quick commerce space include Blinkit, Zepto, and Swiggy Instamart.

Bigbasket eyes quick commerce for electronics with Croma tie-up

Livemint

Livemint · 1y ago

Bigbasket eyes quick commerce for electronics with Croma tie-up

Bigbasket, a Tata-backed company, is in talks with sister company Croma to sell electronics and appliances through its quick commerce vertical. The aim is to offer customers fast delivery of various products, such as getting a washing machine delivered in 15 minutes. Bigbasket's quick-commerce arm, BB Now, leverages existing infrastructure to ensure orders are delivered in under 30 minutes. The quick-commerce sector in India has seen significant churn, but Bigbasket aims to achieve profitability by focusing on revenue per dark store and average order value.

BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Economic Times

Economic Times · 11m ago

BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Innovative Retail Concepts Pvt Ltd, the B2C unit of BigBasket, posted a 6% YoY growth in operating revenue for FY24, reaching Rs 7,885 crore. It reported a net loss of Rs 1,267 crore, down 17% YoY. The company faces competition from quick commerce players like Blinkit, Instamart, and Zepto in the online grocery delivery space. BigBasket is planning to shift its focus entirely to quick commerce. The company's total expenditure increased slightly, while advertisement income remained flat. Tata Group, which owns majority stake in BigBasket, halted fresh investments to reevaluate profitability strategies. BigBasket aims to raise $80-100 million for expansion plans, including the expansion of dark stores.

Bigbasket’s quick commerce order value in small cities matches metro average

Livemint

Livemint · 11m ago

Bigbasket’s quick commerce order value in small cities matches metro average

Bigbasket, an online grocery delivery platform in India, is witnessing strong growth in the tier-2 markets. The average order values for Bigbasket's quick commerce service in these areas are similar to those in metro cities. The company has started pilot projects in smaller towns and is seeing good response as more customers shift to quick-commerce for instant purchases. While it is still early in tier-3 markets, Bigbasket is optimistic about its prospects. The company has been focusing on its quick commerce arm, BB Now, which is yet to become profitable, and plans to expand its stock keeping units (SKUs) and dark stores. Overall, Bigbasket's operating revenue increased in FY24, but the market remains competitive with players like Amazon, Flipkart, and Reliance Retail entering the quick commerce space.

Kiranas are here to stay despite growing quick commerce adoption: BigBasket’s Hari Menon

Economic Times

Economic Times · 10m ago

Kiranas are here to stay despite growing quick commerce adoption: BigBasket’s Hari Menon

BigBasket CEO Hari Menon believes that traditional kirana stores will continue to thrive despite the rise of quick commerce platforms. He emphasized the convenience and credit offered by kiranas and predicted that they would become more efficient and start delivering to homes, even without using an app. Menon admitted that he had initially been skeptical about the quick commerce model, but acknowledged its growing popularity, particularly in the grocery sector. He also highlighted the importance of solid execution and supply chain efficiency rather than simply relying on capital investment. Menon shared that BigBasket was selling three to four iPhones per minute through their quick commerce platform.

Swiggy to focus on Instamart; US pension fund delegation in India

VCCircle

VCCircle · 11m ago

Swiggy to focus on Instamart; US pension fund delegation in India

Swiggy plans to use a significant portion of the funds raised through its IPO to expand its quick commerce unit, Instamart. As competition intensifies from rivals like BlinkIt, Zepto, and BigBasket, Swiggy aims to double its network of dark stores that provide groceries and other essential items. The move comes as part of Swiggy's strategy to focus on the quick commerce segment and solidify its position in the market.

Tata Digital rolls out quick commerce offering Neu Flash

YourStory

YourStory · 8m ago

Tata Digital rolls out quick commerce offering Neu Flash

Tata Digital has launched quick commerce services through its app Neu Flash, offering various product categories including groceries, apparel, electronics, beauty, and personal care. The service is powered by the hyperlocal operations of BigBasket, which is also owned by Tata. This move follows Myntra's introduction of its quick delivery initiative called M-Now, which focuses on delivering products within 30 minutes to 2 hours. Amazon India is also reportedly planning to launch its own quick commerce arm called Tez. Quick commerce platforms are gaining popularity as consumers seek faster delivery for a wider range of products.

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