Online grocery seller BigBasket said it expects gross merchandise value on its platform to grow by 30 percent to Rs 13,000 crore in the current fiscal with a push from its Quick Commerce business and expansion of presence across the country.
Hari Menon, Co-Founder, and CEO, BigBasket said, “The company will significantly scale up offline stores from 90 to 695 in a year to reach out to 100 percent of its customer base. The expected GMV (Gross Merchandise Value) for financial year 2022-23 is Rs 13,000 crore."
The Tata group firm has recorded GMV of around Rs 10,000 crore in 2021-22.
“Consumer behavior for buying grocery is changing due to availability of options, and BigBasket is expanding services to cater to 100 percent of customers' basket,” he added.
He said there are three sets of customers based on their buying pattern -- those who plan to buy one month's grocery in advance, customers who buy items like milk, bread, etc on a daily basis, and impulsive buyers.
"Now, because of the convenience that you have, the online services, people have moved out from the beginning of the month and now order through weekly planning," Menon said, adding that BB Now fits well into the company's strategy to cater to 100 percent of customer basket.
"We believe that this whole quick commerce or these three use cases that I talked about is expected typically to be about 15 to 20 percent of the overall grocery basket of a customer in a month. This business will be typically 15 to 20 percent of the overall grocery business. the company will also integrate all its services into one "super app", Menon told PTI.
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"Having multiple apps for different services can become very difficult. We got this whole concept of the BB super app, which means all our new services will be on one app. If you notice while you are in the area that covers BB Now, you'll find that BB (BigBasket) and BB Now are on the same app. Very soon, you will find BB Daily also on the same app," Menon said.
He said the company is scaling up the number of stores to reach out to 100 percent of its customers.
"We have about 90 stores. Now we will scale to about 695 stores by the end of the year which will give us a hundred percent coverage of all our existing customers. We are going not city by city, but we are going by a cluster of pin code by pin code and adjusting them and setting up stores now. So 90 stores are about 50 percent of my customer base and very we will be able to get to 100 percent of our customer base," Menon said.
BigBasket has plans to expand its footprint to 70 cities in the current fiscal year from about 37 cities at present, Menon said.