Softbank-backed Grofers expects to achieve Rs 10,000 crore in GMV by March
Softbank backed Grofers expects to achieve Rs 10,000 crore in gross merchandise value (GMV) by March supported by a traction of around 50 lakh customers during its ongoing sale, a top company official said.
The company claims to have witnessed around 3 to 4 times increase in sales during its ongoing Grand Orange Bag Days (GOBD) sale.
“We are on road to double our GMV every year and are aiming to hit Rs 10,000 crore in GMV by financial year 2021,” Grofers founder Saurabh Kumar told PTI.
GMV is the total value of merchandise sold over a period.
Grofers is expecting its GMV to touch around Rs 30,000 crore by 2022.
The company is focussing on private label products to drive overall sales growth.
“We are on track to complete interaction with 50 lakh customers during the GOBD. During normal days basket size is Rs 1,500-1,600 and now the average basket size is Rs 2,500,” Kumar said.
The online grocery seller has recorded high traction of visitors from Delhi, Ahmedabad, Bengaluru, Chennai, Mumbai, Pune, Kanpur, Kolkata, Lucknow, Hyderabad, Faridabad, Gurgaon, Noida, Jaipur and Ghaziabad.
It claims to have seen demand across grocery and staples, personal care, biscuits and snacks, kitchen and dining, household items, beverages, baby care and home furnishing segments.
Kumar said that the company has an expedited its target to expand footprint in 50 cities by March, compared to the earlier target of June 2021.
The company is operating in 38 cities at present and will be adding 10-12 cities by March, Kumar said.
“We are increasing headcount every month to cater to the demand. In November-December we added around 3,000 people. We hope to add around 500-100 people every month in the next 3-6 month. The new cities that we have opened are giving us great response,” Kumar said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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