Grofers, the online grocery firm, is planning to expand its sector into FMCG (Fast Moving Consumer Goods) and will steer an overall revenue of Rs. 2,500 crore by FY19. It closed with Rs. 950 crore of sales by FY18 and is targeting for a stronger development arc in 2019, with a 50 percent contribution from its isolated brands. ‘Budget’ and ‘Popular G-Brands’ are the two categories under which seven new brands are launched, and with this Grofers has prolonged to 250 food and non-food products for its consumers.
Grofers targets to drive the next upsurge of development for e-commerce sector by bringing next 100 million customers to its platform with its substantial business growth. It claimed its assortment of private label that is priced approximately from 5 to 50 percent which is lower than the market price for popular brands in these categories. The brand is optimistic on its growth with a revenue target of Rs. 2500 crore and roll out of over 500 SKUs forFY19.
Co-Founder and CEO of Grofers, Albinder Dhindsa said, “Our incursion into the FMCG segment, exceptionally discerns and positions us in the e-grocery business. This perpendicular expansion is key to drive our next phase of growth in India. In the last five years, we have acknowledged a prodigious response from our customers and experienced incredible growth.”
He also said that through many industry-first ingenuities, they have been active in bringing new customers to the e-commerce fold with 15 percent of this customer base being their monthly unique shoppers.
“Our effort is to serve the families in India who are yet to experience the world of e-commerce and our aim is to bring the next 100 million new customers to e-commerce industry through our platform,” he added.