An E-commerce store onlystaples.com that sells online grocery, fruits and vegetables was launched here today.
The initial focus was to target the city and Tier II cities in Tamil Nadu and depending on maturity of the business model in these markets, it would be taken to other cities, including by way of franchisee model, CFO and Director of the company, Rajesh Keerthi told reporters here.
The marketing strategy would be based on local trends and the focus on middle and lower middle class, he said, adding 10 fast moving products would be stocked in the store.Other items like vegetables and fruits would be purchased and sold on a day to day basis for freshness.
With a Rs three crore investment,the company’s vision is to to be among top three online grocery businesses and it has potential to take only one per cent share of the total anticipated grocery online business of Rs 1.50 lakh crore across India, he said.
For purchase of vegetables, including organic, it has tied up with different farmers in the locality and for business arrangements it has tied up with top location and product specific dealers, like spice dealers in Bodi, he said.
The company expects to garner business worth Rs three lakh with at least 300 orders per day, Rajesh said, adding it will charge Rs 30 for delivery for purchases upto Rs 750 and free delivery for above Rs 750 in 20 KM radius.