Big Basket's CEO Hari Menon's entrepreneurial journey is an inspiring tale of grit, determination, and perseverance. The role of any startup is to enhance today's world and one of its main advantages is that it creates new jobs. And that is precisely what BigBasket did.
Early life: Growing slowly but gradually, the online grocery store improved its delivery output. Eventually, BigBasket made its presence in the smaller cities and towns as it hit the jackpot. Getting Bollywood star Shahrukh as their brand ambassador did wonders for their image. The company then launched a high-volume print media, digital, and television campaign. Six months after launching the company, BigBasket got its first funding in the form of $10mn. But the biggest challenge for Hari Menon was to maintain a building capacity to meet customer demand.
Success: Today, BigBasket receives more than 50k orders a day, with an average monthly ticket size of rupees 2500 per order. From Bangalore alone, BigBasket draws 20 crores. It is now a 3000 strong team across three cities and caters to more than 8,50,000 customer orders with a monthly growth rate of over 30 percent. Within a span of a couple of months, BigBasket started serving more than five million registered customers. The company has collaborated with more than 3000 traditional grocery stores across India to deliver food, grocery, vegetables, and other products in under an hour. All this success comes after a sustained struggle which couldn't have been possible without Hari Menon's hard work and dedication.
What the future holds: Hari Menon plans to make BigBasket the largest food and grocery online store and delivery platform in not only India but all across the world. The company has also invested money in building state-of-the-art warehouses for production and marketing. More than 1000 brands and over 20,000 products are available, it also offers an extensive range of food and grocery products including fruits, spices, seasoning to packed foods at the lowest possible price. BigBasket has squashed the myth that an online platform will not work for FMCG, with negligible discounts and a robust business model, the company has grown slowly but steadily. The success story of BigBasket is a learning curve for all entrepreneurs and serves as an inspiration for all those who want to innovate.
The days of waiting in line to buy groceries are long gone. Since online trading has seized a big part of marketing, grocery stores are also getting modernized. And with this revolutionary change, a lot of online grocery stores have come up in the digital market. But only a few of them were able to stand high after multiple business turmoil, BigBasket is one of them.
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