Bigbasket, the online grocer which claims to have three million repeat customers, expects to triple its revenues to Rs 2,000 crore by March 2017.
In a release issued as part of its fifth anniversary on Saturday, Bigbasket co-founder and CEO Hari Menon said a combination of customer focus, operational excellence and advanced technology set us apart from the rest.
“In the past year alone we have seen over 300% growth and continue to grow by 10% on a month-on-month basis,” said Menon.
Grocery retailer
Bigbasket, founded by a team of five – V S Sudhakar, Hari Menon, Vipul Parekh, V S Ramesh and Abhinay Choudhari on December 3, 2011— is on its path to become India’s number one grocery retailer in the next three to four years.
The Bengaluru-based company has expanded its operations to 30 cities and has 17 collection centres. Its private labels contribute to 35% of the total sales. Bigbasket’s average monthly customer spend has grown from Rs 500 – 800 in December 2011 to over Rs 2,500 in 2016.
The company has raised about $220 million so far from prominent investors including Abraaj Group, Bessemer Venture Partners, Growth Story, Helion Venture Partners, IFC and Sands Capital.
Besides ‘Full-service model’ of an average of 25-plus items which are delivered in 2.5-hour time slots for same-day or next-day delivery by its own van, the company has 90-minute express delivery service such as milk, fruits, vegetables and meats. The third delivery service is booking via online products from a local shop.
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