New Delhi: Online grocery firm Grofers is eyeing a three-fold jump in yearly sales on the back of strong demand for its private brands and aggressive pricing owing to a transition to an inventory-led model.
Gurgaon-based Grofers India Pvt. Ltd expects monthly sales to touch Rs80 crore by December, up from Rs65 crore a month currently. The online grocer, which services 26 cities, delivers 15,000 orders daily, with an average basket size of Rs1,300. Grofers transitioned to an inventory-led model from a hyperlocal delivery start-up in February.
“Now because now we own our inventory and private labels, we are able to drive pricing more aggressively… since then (February) we have seen a study uptick in sales,” said Albinder Dhindsa, founder and chief executive at Grofers.
According to Dhindsa, the inventory model helped improve service levels and increase repeat buying on the platform. It sees a healthy 80% repeat buying behaviour compared with 60% last year, before the transition.
Read More- Mint