With Goods and Services Tax (GST) now a reality, kirana stores will perforce have to transform themselves into virtual supermarkets to improve their financial viability and comply with tax laws. Helping them in this endeavour is SnapBizz Cloudtech which has developed a ‘calculator to cloud’ theme to transform the lives of small-scale retailers across the country. “The end-to-end technology solution comprises a tablet, barcode scanner, printer and an intelligent external consumer-facing LED display for consumer engagement. This includes an annual maintenance contract, and costs Rs 40,000,” says Prem Kumar, CEO and founder, SnapBizz. Kumar has over 30 years of experience in retail, distribution and brand marketing in telecom and FMCG segments across geographies. The innovative retail platform connects every stakeholder in the $120 billion retail industry. These include FMCG brands, distributors, retailers, e-commerce firms, end consumers and financial institutions. “Our target is to connect over 1,00,000 stores in the next 18-20 months as there is a huge opportunity for the untapped retail segment across cities for cost-effective solutions,” says Kumar.
The retail-tech firm was founded in 2013 to change the lives of small-scale retailers in the country. With its Android or Windows based, cloud connected business platform, the Ratan Tata-backed retail tech startup has transformed over 2,500 stores across eight cities. Besides, SnapBizz has raised $10 million from Qualcomm, Jungle Ventures, Taurus Value Creation, Konly Venture to drive digital inclusion and provide last-mile connectivity to kirana store owners.
SnapBizz is the result of extensive market research and pilot studies to understand the pain points and key challenges of the consumer goods ecosystem stakeholders. The solution enables retailers to increase sales through smart merchandising and promotions, obtain revenue generation from brands, create loyal customers with the help of smart consumer engagement tools and enhance profitability via smart inventory management. By adopting the SnapBizz solution, retailers will be able to increase sales while ensuring a fixed minimum revenue from brands every month. It will help them save time and increase profitability significantly.
After witnessing successful adoption of its innovative digital technology by small retailers in cities such as Mumbai, Pune, Bengaluru, Chennai and New Delhi, SnapBizz has identified Telangana and Andhra Pradesh as the next core growth markets.
“Kirana store owners are realising the real potential of digital solutions to transform their business. Our solution empowers kirana stores to have a competitive edge by transforming them into virtual super markets, thus enabling the kirana stores to achieve close to a million digital transactions every month,” Kumar adds.
As per its research, there is 18-25% increase in profitability with the transformation of the store into a supermarket through SnapOrder, an app that displays product offers and promotions and helps in inventory, purchase and customer management. SnapBizz is now looking at expanding operations in the South East Asian markets as well. Having partnered with 25 top FMCG retail brands, the company is hopeful of becoming profitable in the next three to five years.