International Journal of Scientific Research and Engineering Development

International Journal of Scientific Research and Engineering Development

( International Peer Reviewed Open Access Journal ) ISSN [ Online ] : 2581 - 7175

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BigBasket Encashing the Demonetisation: A Big Opportunity

    International Journal of Scientific Research and Engineering Development (IJSRED)

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Published Issue : Volume-3 Issue-5
Year of Publication : 2020
Unique Identification Number : IJSRED-V3I5P28
Authors : Dr.Simple Verma, Dr.Simranjeet Kaur Sandhar

Abstract :

Big basket the largest online grocery supermarket in India was launched in 2011 when the trend of buying grocery online had just begun and at a time when e-commerce was in its infant stage in the country. Bigbasket was founded by Hari Menon and his associates. Bigbasket is headquartered in Bengaluru and delivers to various big and small cities in India. In its journey to make itself profitable it had the first major opportunity in 2016 during demonetization when country’s online grocery delivery sector valued at just around $1 billion-was given a unique and powerful opportunity to hit the accelerator. During the cash crunch in the country, online grocery business saw an immense boost. The biggest worry for consumer was how to pay a local vendor for daily grocery needs like fruits, vegetables, fish, and milk with cash. The lack of cash in the market pushed consumers to buy groceries online and opt for digital payment options. With local retailers not having digital payment options, the vacuum was promptly filled by e-grocers like Big Basket. But with the big opportunity it faced hard challenges. Consumers are not willing to wait for grocery for more than two days how it is going to step up tie up with local vendors for providing fresh fruits, vegetables, and groceries. Also, they must devise a right promotional strategy at this point of time to seize this opportunity along with increasing the delivery staff, transportation, and logistics in this very short span of time.