Targets INR 2,500 Crore Business by FY 2019
·Launches 7 new brands under two categories – Budget and Popular, to offer over 250 food and non-food own products to consumers
·Targets to bring the new 100 million consumers to revolutionize e-commerce industry
With an aim to disrupt the online retail market space, Grofers, the low price online supermarket, today announced its foray into the FMCG segment with the launch of seven new brands under two categories – Budget and Popular G-Brands. With this, Grofers’ private labels expands to 250 food and non-food products for its consumers. With this significant business expansion, Grofers aims to drive the next wave of growth for e-commerce sector by bringing the next 100 million customers to its platform. The brand is bullish on growth with a revenue target of INR 2500 crore and roll out of 500+ SKUs for FY 2019.
The brand’s aggressive expansion of its private labels comes as a promise to offer consumers great quality products at the lowest price, paired with a supreme experience. The Popular G-Brands category offers premium quality products under brands including ‘G Mother’s Choice’, ‘G Happy Day’ and ‘G Happy Home’. Labelled under the Budget category, the brands include ‘HaveMore’ and ‘SaveMore’ to cater to price sensitive consumers by offering entry level quality products. The G Happy Day and HaveMore brands include an array of food products like tea, fruit jam, muesli, tomato ketchup, corn flakes, rose shahi sharbat etc., whereas the G Happy Home and SaveMore brands address household needs with products in the categories of detergents, household care, oral care, tissues & disposables, kitchen tools & accessories, furniture & storage and many more. G Mother’s Choice is the flagship brand of the e-grocer that enlists a wide range of quality staples at the lowest price in the market. All the products under both G-Brands and Budget category are an assortment of great best quality offerings which will further enhance consumers’ savings in their everyday purchases. Grofers’ range of private label is priced approximately 5% to 50% lower than the market price for popular brands in these categories.
Speaking on Grofers’ business expansion, Albinder Dhindsa, Co-Founder and CEO, Grofers, said, “Our foray into the FMCG segment uniquely differentiates and positions us in the e-grocery business. This vertical expansion is key to drive our next phase of growth in India. In the last five years, we have received an overwhelming response from our customers and experienced tremendous growth. Through many industry-first initiatives, we have been instrumental in bringing new customers to the e-commerce fold with 15% of this customer base being our monthly unique shoppers. Our focus is to service what we call the ‘Real Bharat’ – the two wheeler families of India who are yet to experience the world of e-commerce and our target is to bring the next 100 million new customers to e-commerce industry through our platform.”
Reflecting on the business strategy, Saurabh Kumar, Founder, Grofers, said, “Grofers’ market disruption game plan includes providing great quality products at lowest possible prices. Towards this, our private labels under the two new categories allow us to offer high quality products at various price points to serve varied needs of our customers. We are taking our promise of Every Day Low Prices (EDLP), which remains unchallenged, to a whole new level through this move. The expansion marks yet another milestone in our success story as a home-grown brand and will significantly contribute towards shaping the overall e-commerce trajectory in the country.”