Hari Menon Aims For The Biggest Share In India's Grocery Basket

bigbasket, which currently holds 37-40 percent share in the grocery delivery industry, followed by Amazon, Grofers and Flipkart, has started bracing itself to face competition – which is expected to intensify soon…

- Charu Lamba

The online retail market in India is expected to grow 250 percent to touch ₹1.8 trillion by 2020 fiscal. Over the next three years, the e-retail industry is expected to continue its strong run, growing over 2.5 times to $28 billion (₹1.8 trillion) by fiscal 2020, the global analytics firm Crisil has said. And among this, online grocery will be the fastest-growing segment (around 65-70 percent CAGR between fiscals 2017 and 2020) in e-retail and almost quadruple over the next 3 years to ₹100 billion in terms of revenues.

Meanwhile, the stage is being set for a big battle in the US $1 billion FMCG space. While established players like Amazon and Grofers are strengthening their positions, the recent acquisition of Flipkart by Walmart has also served to create a ripple effect in the F&G segment. bigbasket which currently holds 37-40 percent share in the grocery delivery industry, followed by Amazon, Grofers and Flipkart, has started bracing itself to face competition – which is expected to intensify soon.

Hari Menon, Co-Founder and CEO, bigbasket says, “Despite a huge opportunity, the FMCG segment is still under-served as far as online grocery delivery is concerned in India. There are just a few players in the market. As more and more players will enter the segment and already present players will strengthen their presence, more customers will start shifting to online grocery buying. So, yes, competition is expected to intensify.”