BigBasket is going to become a supermarket. After the acquisition by Tata in 2021, it has experimented in different ways. Earlier, it also tried self- services to fruit and vegetable outlet in Bangalore. But this time, it is going to do so in the form of a supermarket in Hyderabad.
It is also planning to expand in this physical space. It is going to open 3 more supermarkets in Hyderabad, 5 in Kolkata and 15 more in Bangalore. After that, it also plans to open 400 more such stores across the top 10 cities of the country. It will cater to those users, who are more comfortable with physical stores.
On the online front, BigBasket has a user base of 15 million. It is also making a profit of around $ 1 billion. Now, there is also one additional app that Tata has launched for use by the users of BigBasket. It is a total of all the apps that belongs to the companies owned by Tata Group.
Now, there are some drastic changes that Tata Group is going through. For the last few years, it has been on a purchasing spree. It now owns some companies from the tech world like 1mg and BigBasket. It also has an airline named Air India. So, Tata has lined up major expansion plans for the future. For the time being it needs to invest some more resources in these companies to make them capable competitors in the market. After that, companies like BigBasket will also make it to the IPO listing by 2025.
From the business point of view, BigBasket did serve its customers well. The highest order on its online platform was from Karnataka. On the popularity front, the tomato was the top choice of the customers on the platform. In the entire year, BigBasket delivered around 400 kgs of coriander also, which was also one of the most popular items.
On the offers front, users also saved around 1500 crore rupees from various offers and coupons. The orders were mostly during the rush hours of 7 pm and 9 pm. The platform is also planning to expand to 20 more cities. This expansion will take the total count of cities from 55 to 75 for BigBasket service.
Now, BigBasket also needs to take care of the fact that it needs to tackle the competition from platforms like Jio. The competition is also from some physical platforms that do support the flexibility of shopping by looking at the actual product. There are still several users who love the offers and the variety of products that stress like DMart offers. There are also some competitive moves from Flipkart and Amazon. These e-commerce giants are also putting in efforts to score big in one of the world’s fastest-growing online markets.
These changes will surely put smiles on the face of those who love to buy milk from the supermarket while coming back from morning exercise. The further increase in the valuation of BigBasket at $3.2 billion also makes it a top contender to become one of the best platforms for groceries and fresh veggies for a long time and with a bright future.
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