Hyperlocal industry has gone through a rapid evolution in a very short span with innovations and new models being introduced every now and then. An industry that is nothing but, a bridge that connects local vendors/ merchants to consumers around the vicinity has seen an exponential spurt in startup and investor activity.
With a dramatic shift in consumer trust, the dynamics of the industry are bound to change. This might surely be a ‘beta’ phase of hyperlocal vertical but, startups with their distinctive models are leaving no stones unturned to tap the maximum out of the overall consumer pie.
Doing the same is Allsupermart, an online platform for hyperlocal vendors to sell their goods and services. Retailer Media hooked up with company’s Founder & CEO, Amit Singh to know more about his astounding venture and how he plans to valve the maximum in this BETA phase of hyperlocal industry.
How was the idea of your Start-up conceptualized? What is the need you are addressing in the market?
During my shopping when I was speaking to the merchant, he was discussing how online market has impacted his business and how people come to his shop had compare the price and products from online. So, casually I asked, what if I give you a platform where you can sell your product online and deliver it yourself he readily told yes. From this the idea of Allsupermart was conceptualized. Today the need is quality and trust on products with speedy delivery with this hyper-local venture I would be addressing these need in the market.
Talk to us about the recent trends in online grocery market?
Market for sale of grocery is rising in many folds lot of startups and established players are focusing in this field. But the company with good customer services can only move ahead in this field. Recent trends are high market for sale of grocery is rising in many folds lot of startups and established players are focusing in this field.
As brand are going omni-channel these days, how to plan to compete the biggies of grocery market?
We strongly believe in customer service and we are going very slow but in a steady manner as we want to be company who is known for the services rather than sales.
Who is your target consumer? Could you please share how you have detailed your consumer?
Our targets are crowd between the age of 18 to 45 years such as working professional, students and young working parents.
Will the latest 100% FDI norm affect a business like yours in any manner? What is your take on the notification?
No, it will not affect our business but will help us to grow in a big way. My take on the notification is the government's announcement on allowing 100% FDI in e-commerce market place model will be beneficial to players like us as it will enable in focusing more on the innovation and business aspect. The clear definition by DIPP for 'e-commerce', 'market place model' and 'inventory based model' will help in organizing the ecosystem. Allsupermart being a market place player welcomes the government's announcement as it will help us grow in many ways."
Have you risen any funding so far?
No we have not raised funds as of now. But we do have plans and are in talks with few organizations for it. We will use the funds for expansion and development of our products.
What potential you see in tier II and III cities of the country when it comes to buying grocery online?
There is immense potential in tier II and tier III cities. As digital India is taking its pace the culture of buying online will also gradually increase we as a company have planned differently for this city.
What has been your A-ha Moment in the business? (The high point)
My first vendor registration and first transaction from my website was my A-ha moment.
What has been your biggest challenge so far in scaling -up? How are you addressing it?
Our biggest challenge was acquisition of local merchants. When we went into the market we faced lot of issues to make them understand about our product was a difficult task to convince them to get associated with our portal. We have a team of 30 trained sales guys in Pune we took many sales workshop on sale to local merchants. Now things are stabilizing and moving smoothly.
How do you see growth scenario is this business? What is your future scale-up plan?
Growth is definitely there in this sector. In first phase we are covering Pune area and in 2nd phase we are covering Mumbai Bangalore Hyderabad and Chennai third phase in Gurgaon, Noida, Delhi and Chandigarh.