With the net worth of over $600 billion, the Indian grocery online market is now the sixth largest market. Many startups have leveraged this tremendous growth by entering into the market at early stages.
But hey, it’s not too late even now. Read on to know why.
With the expansiveness of the landscape of India, increasing traveling cost, growing acceptance of daily needs shopping, grocery online business is a way to go. With a few clicks on the phone, you receive your preferred grocery items at your doorstep without any unnecessary time-consuming trips to the crowded supermarket.
All you need is to select the products of your choice and order it from the comfort of your house. And the COID-19 situation has spiked hyperlocal ecommerce like never before. And believe the facts, the number of online buyers is expected to reach 21.4 billion by 2021. That’s just the next year.
Don’t you want to achieve new success in the new year? If you also want to start your online grocery marketplace then checkout,
The 5 best grocery marketplaces in India and their success stories
1. Big Basket
This has become the big success story in the grocery multi vendor marketplace business. The company was launched in 2001 and then there was no looking back. Big Basket is serving millions of customers with thousands of products and brands.
2. Amazon Pantry
Being a part of ecommerce giant, Amazon Pantry has gained immense popularity in the grocery market. It has been launched in the year 2017 and offer grocery items at affordable prices.
3. Nature’s Basket
This company was launched by Godrej food division and soon after, it has pioneered in the grocery online market. Nature’s Basket has gained immense growth with its USP of freshest and finest food delivery in India.
The Gurugram based company was founded in the year 2013 and raised over $10 million in the next two years. Initially, Grofers started as a B2B model but soon, it has entered into the hyperlocal ecommerce market to leverage maximum business opportunities.
The company has been hitting hard on the daily needs and grocery segment with the promise of delivering the products within 3 hours. Zopnow was launched in 2011 and became one of the first few entrants in the online grocery market.
Start your own grocery delivery multi vendor marketplace
So, now you know that even small daily needs are a big business opportunity and have tremendous market growth too. If you are also finding a way to enter into this lucrative market, this step-by-step guide can be your ladder to success.
1. Target the right audience in right geography
You must be thinking that everyone wants groceries, so everyone is your target audience. But no, you have to find the audience and locations that are not tapped yet or not served appropriately. And once, you are clear about the audience and location, move ahead to the next step.
2. Choose the right ecommerce platform
Well, this step seems to be the division of the technical team but this is the most important business decision for your grocery online business. It builds the core foundation for your online store, be it technology, customer, marketing, aesthetics, or anything for that matter. Choosing the right ecommerce platform with rich features can get you going in a fraction of cost and time as compared to ecommerce software development. Go for a platform that is scalable and customizable to suit your dynamic business requirements. Some of the must-have features of an ecommerce platform include automated marketing, multiple payment options, integrated logistics and customer service, unified notifications, mobile-first approach.
3. Managing a diverse range of products
If you think that launching a hyperlocal ecommerce business is a child’s play, then be clear that it is not. You need to manage thousands or millions of products, list them on a website, and manage the inventory online. The integrated inventory management features can be a big time help here. It allows you to list multiple product categories on the online store and manage them in just the way you want.
4. Streamline grocery delivery system
The key term is there in the header itself i.e. “DELIVERY”. After all, you are dealing with an online business and you need to be a delivery expert to win the heart of customers. In a multi vendor marketplace, the customer places the order and the products need to be picked from multiple vendors to get the complete order delivered. It can be a huge mess if delivery is not managed properly. An ecommerce platform with a dedicated delivery person management module can be your saviour to eliminate all the hassles and mess. It helps you to have multiple shipping options, onboard preferred shipping partners, track the delivery agents and orders right from the admin dashboard in real-time.
Development initiates the business and marketing runs the business. A grocery online business also needs to be marketed well to ensure that you are ahead of competitors. Putting the right marketing efforts can help you to be at the top in no time. But you need a streamlined marketing platform to automate all your tasks like email marketing, abandoned cart follow-ups, customized promotions etc. An ecommerce platform with this kind of marketing module can help you gain maximum customer traction as well as business profits.
6. Make everything for mobile
Busy people and working millennials are the top online shoppers of grocery items. And mostly, they shop for their daily needs while travelling or lunch breaks at office, or alike. Obviously, they need their grocery online store to be available on mobile. Well, that’s the first and foremost requirement to capture and retain the target audience. Choose an ecommerce platform that supports mobile-first approach, PWAs for native experience to customers, and mobile apps (Android/iOS).
7. Multiple payment options
Most of the customers prefer to pay online when they shop online. In fact, payment option comfortability is one of the top reasons why people switch the online stores. For the same reason, offering multiple secure payment options to customers is a must-have for your grocery multi vendor marketplace. Some of the common payment options include payment wallets, debit/credit cards, cash on delivery.
Get started today to be a part of next online grocery business success story.
So, there is no doubt in the market growth of grocery business. The COVID-19 induced lockdown has also made people realize the benefits of ordering the daily needs online. Don’t wait anymore to be a part of the next top success story.
If you still have questions about business models, technology platforms, or anything alike, you can get all your answers by checking the must-have features of grocery online stores. Schedule your free trial today to explore the amazing features.