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Nearly 86% of online grocery buyers look at product quality, says report

YourStoryYourStory · 1y ago
Nearly 86% of online grocery buyers look at product quality, says report
Medial

A study by LocalCircles reveals that product quality is the top priority for 86% of online grocery buyers. Factors like value for money and delivery time are crucial as well. The study also shows a change in purchasing patterns, with more consumers ordering groceries as needed instead of in bulk. Quick delivery platforms like Zepto and Blinkit, offering delivery within 30 minutes, have gained popularity. The study also highlights consumer preferences for different delivery timeframes. Gen Z consumers are more willing to pay for faster delivery. Automated refunds and efficient processes are also preferred by consumers. The study evaluated platforms based on various factors, with Amazon Fresh, Zepto, and Flipkart leading in different categories. Challenges like expired products and quality issues were also observed. The study suggests that established platforms need to speed up delivery times, while quick delivery services need to improve value and quality. The online grocery sector is rapidly evolving, with broad demographic participation and adoption in Tier III and IV districts.

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Quick commerce to contribute $1B in GMV to festival sales: BofA Research

YourStoryYourStory · 9m ago
Quick commerce to contribute $1B in GMV to festival sales: BofA Research
Medial

- Quick commerce is expected to generate $1 billion in gross merchandise value (GMV) during the festival season, with online commerce platforms generating $12 billion in GMV, representing a 23% increase from the previous year. - Quick commerce platforms are projected to contribute nearly $1 billion to the total GMV during the festive season. - Festive consumption is driven by shoppers eagerly taking advantage of offers and deals, with around 65% of online buyers planning to increase their spending during this period. - Non-grocery online sales typically occur during the first wave of the festive season, while quick commerce platforms become more prominent for ordering groceries and festival essentials during the second and third waves. - Changing consumer spending patterns show a shift towards discretionary items like entertainment and travel, impacting retail purchases. - Grocery and beauty/personal care categories are expected to witness faster growth, driven by quick commerce players, challenging vertical e-commerce platforms in the same-day delivery space. - The online grocery market is projected to grow from $317 million in 2023 to $800 million during the 2024 festive season, with groceries contributing 13% of festive e-commerce sales, and quick commerce platforms leading the growth.

At a Brooklyn warehouse, robots are reshaping the grocery-delivery business

LivemintLivemint · 9m ago
At a Brooklyn warehouse, robots are reshaping the grocery-delivery business
Medial

- A pilot program in Brooklyn, NY is using robots to fulfill grocery orders and claims that shoppers can save nearly one-third on their grocery bills. - Robots in a warehouse pluck bins of groceries and send them to other robots on the ground for delivery by workers and Uber drivers, assembling 50-item orders in just six to eight minutes. - The automated micro-fulfillment center in Brooklyn, part of the Save A Lot discount grocery chain, offers grocery prices about 30% lower than those sold at a traditional supermarket. - The center aims to provide quicker delivery within an 8-mile radius of Brooklyn, promising half-hour delivery windows compared to the four-hour windows offered by most other supermarkets. - The use of robotics in grocery delivery is part of an industry-wide movement to make online grocery shopping faster and more cost-effective, addressing the challenges and complexities of fulfilling perishable items and reducing labor costs. - Save A Lot is partnering with Fabric, an Israeli company that owns the technology and leases the warehouse, to create a lower-cost, limited-offering grocery fulfillment center that requires a smaller real estate footprint and minimizes overheads.

Swiggy Instamart to focus on household consumption, immediate use cases products, says head

Economic TimesEconomic Times · 1y ago
Swiggy Instamart to focus on household consumption, immediate use cases products, says head
Medial

Swiggy Instamart, the quick commerce platform, will continue to focus on household consumption products and immediate use cases, even as it expands into categories beyond groceries, according to Phani Kishan Addepalli, the platform's head. Addepalli mentioned that while groceries will remain important, the platform may branch out into other categories that are more suitable for household consumption. He also highlighted the increasing trend of healthy eating across various product categories and the importance of transparency and label reading in making conscious choices. The online grocery segment in India is projected to grow significantly in the coming years.

Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report

YourStoryYourStory · 10m ago
Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report
Medial

More than 60% of shoppers on Meesho, an ecommerce marketplace, plan to increase their online shopping budgets, indicating a growing trend of ecommerce adoption in Tier II cities. The company's report, "E-commerce Festive Forecast 2024," suggests a shift towards planned shopping, with 60% of respondents preparing their festive purchases in advance. Social media and influencers play a significant role in shaping consumer purchasing decisions, with 40% of shoppers driven by FOMO and 50% relying on influencer affiliate links. Positive reviews, high-quality content, and detailed product information also influence online purchases. Meesho has created around 850,000 seasonal job opportunities this festive season, a 70% increase from last year.

CCI approves Jumbotail-Solv India merger

EntrackrEntrackr · 1m ago
CCI approves Jumbotail-Solv India merger
Medial

The Competition Commission of India on Tuesday cleared a multi-layered deal involving Bengaluru-based Jumbotail Technologies' proposed acquisition of B2B e-commerce platform Solv. The merger includes Jumbotail fully acquiring SCRTIPL, a subsidiary of Standard Chartered that runs Solv. In March, SC Ventures, Standard Chartered’s investment arm, agreed to sell Solv India to Jumbotail. A recent report by Financial Express said that the merger had faced delays after an audit revealed related-party transactions that inflated Solv’s revenue. These concerns were flagged by Jumbotail during the audit process. As part of the deal, Jumbotail will issue certain shares to SC Ventures and Solv India, while SCV Master and Artal Asia will subscribe to specific shares in Jumbotail. The combined entity will be led by S. Karthik Venkateswaran and Ashish Jhina, co-founders of Jumbotail. Gautam Jain will join Jumbotail’s board, representing SC Ventures. Jumbotail operates an online marketplace that facilitates wholesale product distribution and offers a range of ancillary services for sellers and buyers. Solv, meanwhile, supports the diverse commerce and fintech needs of India’s small retailers (kiranas) and micro, small, and medium enterprises (MSMEs). The acquisition will bolster Jumbotail’s capabilities across the entire food and grocery value chain, while integrating Solv India’s strengths in apparel, home furnishings, footwear, and toys. According to a Moneycontrol report, Jumbotail is in the advanced stages of securing $120 million in funding from SC Ventures, Invus, and other investors, which would value the company at $1 billion and position it as the latest unicorn in the B2B e-commerce sector.

Ratan Tata's impactful investments in 9 start-ups

YourStoryYourStory · 1y ago
Ratan Tata's impactful investments in 9 start-ups
Medial

As Ratan Tata turns 86, here's a look at nine startups he has invested in: 1. Goodfellows: Promotes inter-generational friendships by connecting seniors with empathetic young companions. 2. Ola/Ola Electric: Ratan Tata has invested in both the cab aggregator service and its electric mobility venture. 3. Paytm: A digital payments platform where Tata's investment secured him a strategic advisory role. 4. Snapdeal: An online marketplace with a diverse array of products, where Tata holds a stake. 5. CarDekho: An auto search platform revolutionizing the car-buying experience. 6. Cure.fit: A health and fitness startup with a holistic approach to wellness. 7. Zivame: An online lingerie startup known for its engaging marketing campaigns. 8. Lenskart: An eyewear retailer where Tata acts as a mentor and advisor. 9. YourStory: The first media organization to receive funding from Ratan Tata. Tata's investments are driven by admiration for the mission and vision of these startups.

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