BANGALORE, April 28, 2017 /PRNewswire/ —
Partnership to enable the much-needed digital transformation of traditional retailers
SnapBizz, a retail-technology firm announced its partnership with bigbasket, India’s largest online supermarket, in an effort to transform India’s kirana stores into technology-enabled modern retail stores. With this partnership, SnapBizz and bigbasket will enable the kirana stores to automate the supply chain and inventory management processes.
bigbasket and SnapBizz have created an auto-replenishment supply chain platform for retailers to give them a competitive edge. Based on business rules and predictive analytics, orders are auto-generated multiple times in a week by the retailer using the SnapBizz system, which is fulfilled by bigbasket promptly for both packaged and non-packaged goods.
With significant transformation taking place in India’s traditional retail space, retailers are now focussing on the demand side and more efficient consumer engagements. To focus on these business-critical areas, retailers require simple solutions to comprehensively manage their supply chain dynamics. The platform created by bigbasket and SnapBizz not only addresses the supply chain challenges of the retailer but also significantly reduces the working capital requirements and frees up his time to attend to his customers and build upon his core strength, which is customer rapport and deep insights about their requirements.
Commenting on the partnership, Prem Kumar, Founder and CEO, SnapBizz said, “We are excited to partner with a highly efficient retail disrupter like bigbasket to streamline the supply side in the kirana sector. In the current day scenario where customers are migrating to modern trade for better services, offers and savings, we are committed to showcase the strength of our kirana stores and drive traffic back to them. Through smart merchandising and promotion, direct revenue generation opportunities from brands, smart inventory management to enhance profitability and targeted customer engagement tools, SnapBizz aims to transform the kirana store into a smart modern store.”
Mr. Abhinay Choudhari, Co-Founder and Head New Initiatives of bigbasket in a statement said, “We are in the process of scaling up our B2B business and have plans to achieve Rs. 1000 crore exit rate by end of FY 2018. Our alliance with SnapBizz will enable our partner kirana stores to efficiently manage their sourcing and inventory. The platform jointly created by us will aid in managing the supply chain dynamics, which is crucial for the smooth functioning of any retail business. bigbasket’s large-scale sourcing of commodities, staples, fruits and vegetables and FMCG products, and the wide assortment of products will act as a single source of supply for kirana stores.”
The partnership will provide kirana stores the much-needed technology, sourcing, supply chain and processes to achieve a level playing field with modern retail. In a first-of-its-kind innovation in India’s traditional retail space, the move will embrace automation in the lower end of the retail pyramid.
Adding to this, Chirantan Bhabhra, Director – Sales and Marketing, SnapBizz, said, “SnapBizz continuously creates value addition to retailers via FMCG ecosystem partnerships to improve their profitability and modernize day-to-day operations. Be it in getting more promotions and merchandising from brands or supply chain solutions like with bigbasket or extending working capital loans through NBFC/banks. The new-age retailer is extremely smart and embraces technology very easily and ‘only if’ it answers the basics of his business problems. Our partnership with bigbasket is a classic example of how technology and collaboration can solve basic supply chain problems of the retailer. SnapBizz solution is a bottom-up approach to solve day-to-day business problems that a kirana store faces.”
SnapBizz Cloudtech Pvt Ltd is a retail-technology company founded in 2013 to transform the small-scale retail sector in the country. To reverse marginalization of SMB’s and drive digital inclusion in the large consumer goods industry, it has developed a technology platform to connect all stakeholders of the fragmented retail ecosystem of India, while adding value to individual stakeholders. The end-to-end solution it offers is an android-based, cloud-connected business platform that is also cost-effective. The solution comprises of tablet, barcode scanner, printer and an intelligent external large consumer-facing LED display for consumer engagement. SnapBizz is backed by leading investors and strategic partners who are captains of the industry and bring in an innovation funnel of cutting-edge technology.
bigbasket was founded in December 2011 in Bangalore by a team of five – V S Sudhakar, Hari Menon, Vipul Parekh, V S Ramesh and Abhinay Choudhari. The team has both offline and online retail experience, as they had earlier set up India’s first e-commerce site FabMart.com in 1999, and then established the Fabmall-Trinethra chain of more than 200 grocery supermarket stores in southern India. Servicing over 4 million registered customers; bigbasket has grown into India’s largest online supermarket with over 20,000 products from over 1000 brands and a presence in 30 cities across the country, including Bangalore, Hyderabad, Mumbai, Pune, Chennai and Delhi-NCR, with plans to expand to other cities soon. bigbasket’s online food store offers a variety of products across various categories: fresh fruits & vegetables, grocery & staples, beverages, bread, dairy & egg products, branded foods, meat, personal care and household products. bigbasket is committed to making life simpler and grocery shopping a breeze.
Talking Point Communications
SOURCE bigbasket (Supermarket Grocery Supplies Pvt. Ltd)