MUMBAI: E-grocery retailer Grofers claimed it was on track to hit Rs 550 crore in monthly gross merchandise value (GMV) on the back of its semi-annual sale, which has been running for the past two days. “Out of the Rs 550 crore, we expect Rs 360-370 crore to have come due to the sale,” said Albinder Dhindsa, CEO, Grofers.
The company beats its closest rival BigBasket when it comes to gross sales per month, Dhindsa said. “We clock between Rs 230 crore and Rs 240 crore per month without the sale,” he said. Grofers saw a significant uptick in branded FMCG products during the sale, he said.
BigBasket had clocked a turnover of Rs 3,200 crore in FY19, which roughly translates to Rs 266 crore per month, Hari Menon, its CEO said in an interview with ET in May.
According to industry estimates, BigBasket registered a GMV run rate of $600 million this year. The estimates, however, include sales through its B2B arm. The split between the two is not made public.
“We are also seeing signs of the consumption slowdown,” said Dhindsa. Customers wouldn’t stop buying, but would downgrade what they were buying, he said. “Customers preferred to buy locally made, cheaper products instead,” he said, adding the higher value products have not moved as fast as expected despite the sale. Data also showed that most of Grofers’ orders were coming from less-affluent neighbhourhoods across the country, he said.
The company beats its closest rival BigBasket when it comes to gross sales per month, Dhindsa said. “We clock between Rs 230 crore and Rs 240 crore per month without the sale,” he said. Grofers saw a significant uptick in branded FMCG products during the sale, he said.
BigBasket had clocked a turnover of Rs 3,200 crore in FY19, which roughly translates to Rs 266 crore per month, Hari Menon, its CEO said in an interview with ET in May.
According to industry estimates, BigBasket registered a GMV run rate of $600 million this year. The estimates, however, include sales through its B2B arm. The split between the two is not made public.
“We are also seeing signs of the consumption slowdown,” said Dhindsa. Customers wouldn’t stop buying, but would downgrade what they were buying, he said. “Customers preferred to buy locally made, cheaper products instead,” he said, adding the higher value products have not moved as fast as expected despite the sale. Data also showed that most of Grofers’ orders were coming from less-affluent neighbhourhoods across the country, he said.
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