Online grocers in India ringing up good business
City traffic, parking shortage, better Web access are prompting many to shop at e-tailers
Mumbai
PUT off by snarled city traffic and a shortage of parking, more Indians are shopping for groceries online, helping e-tailers like Bigbasket.com and Localbanya.com turn in profits while supermarkets are struggling.
The online grocers benefit from low overheads, as they store goods in warehouses outside big cities where commercial rents are sky-high. Some like Bigbasket.com can also charge more for certain items than traditional supermarkets, which means even more profits in a country where all food retailers enjoy margins of as high as 20 per cent on rice and other staples.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO