1. Bigbasket customer base hits 5 m mark

Bigbasket customer base hits 5 m mark

Online supermarket Bigbasket on Friday said that it has achieved a customer base of 5 million with a presence over 26 cities across India, the company said in a statement on Friday. The online grocer that posted a loss of Rs 277 crore during FY16 on revenues of Rs 563 crore, said that it saw […]

By: | Bengaluru | Published: May 20, 2017 5:56 AM
While denying any reported talks with Grofers for a merger, Vipul Parekh co-founder, Bigbasket told to FE, “Bigbasket is going all alone and is hoping to achieve Rs 3,000 crore sales in the current financial year.”

Online supermarket Bigbasket on Friday said that it has achieved a customer base of 5 million with a presence over 26 cities across India, the company said in a statement on Friday. The online grocer that posted a loss of Rs 277 crore during FY16 on revenues of Rs 563 crore, said that it saw a corresponding increase in the average monthly sales from Rs 150 crore to about Rs 190 crore per month, up 30%, with increasing customer base. While denying any reported talks with Grofers for a merger, Vipul Parekh co-founder, Bigbasket told to FE, “Bigbasket is going all alone and is hoping to achieve Rs 3,000 crore sales in the current financial year.”

Reports have indicated that Softbank is pushing for a merger between Bigbasket and rival Grofers. While the company has achieved this milestone in its B2C business, it has also increasingly started scaling up its B2B business to push its private labels into more kirana stores in the country. Vipul said, “B2B business now contributes about 10% of our total revenue. The other 90% of our revenue comes from B2C revenue”.

He added while the average ticket size now ranges between Rs 1,400 – Rs 1,500, the same for express delivery has increased by 25% to R700 from Rs 560- Rs 570 seen a year earlier. The online grocer which claims to have a market share of 70% is also planning to run special offers in the coming days. Parekh, said, “To celebrate this milestone, we will be running several special offers for our customers over the coming weekend and launching new offers for the month.”

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