Ways to Start and Grow E-Grocery Business
INDEX 2
Introduction
3
Market Research
4
Website/App, IT Development
5
Process Manual (SOPs)
6
Procurement
7
Marketing Planning
8
Financial Planning
9
Conclusion 1
INTRODUCTION Online grocery stores are one of the fastest-growing businesses throughout the globe The main reason behind this is the increasing preference for online purchases by the customers The opportunities have attracted new players to enter the market with existing players trying to strengthen their hold
Index
Expected 1.2% of total Market USD10.5 Billion 2023
19% Growth Rate Y-o-Y
Online food and grocery market in India 0.2% of Total Market 2019
Online Grocery Business
For growth and sustainability, it is important for the new players to keep their basics right from the onset
2
MARKET RESEARCH What demographic factors define the target audience?
Is the target audience comfortable using websites, apps?
Some of the questions a new
businesses
inculcate
to
should
understand
What problems do they face while buying groceries online?
their customers better and offer them something to fill the existing gap
How to create competitive differentiation?
Index
What extra features can be provided?
5
WEBSITE/APP, IT DEVELOPMENT Running an online grocery business involves multiple business processes and operations that need to run in a synchronized
manner moving the wheels of the entire business A strong IT infrastructure to support all the departments and the business processes become necessary An integrated IT platform for customers and backend order management and fulfillment is essential in e-grocery business Compatibility of the website/app with (iOS, Android, etc.)OS, be user-friendly and deliver a superior user experience with modern
day search amenities
Confirming the Order
Receiving
Order Management System
Index
Processing
Live Tracking
6
PROCESS MANUAL (SOPS) SOP is an operational roadmap for each operation or activity SOP defines the step-by-step approach to carry out a particular task or operation SOPs need to be planned and documented There should be SOPs for every department like finance, HR, store operations, merchandising, purchase, inventory, etc.
Step 2.1.1 Step 2.1 Step 2.1.2 Step 1
Step 2.2
Index
Step 2.2.1 5
PROCUREMENT
Hundreds and Thousands of Brands and Products
What Products and quantities?
Confused!!
Decision
Reliable demand forecasting and precise procurement has become a necessity Various analytical and BI (business intelligence) tools for more reliable, data-driven decision-making in
inventory management (including procurement).
Index
6
MARKET PLANNING Product and Brand Promotion and Advertising
Conventio nal Marketing
Digital Marketing
Select the Sustainable way
Options to choose from
Marketing
SEO
SEM
Advertisin g in local Newspaper s
Pamphlets and Flyers
Hoarding, Electronic Billboards
Leverage the power of social media to reach out to a wider audience, engage with customers, or even sell products. Conventional techniques can be more effective for local audiences
Index
7
FINANCIAL PLANNING Assessment of requirements, sources, Projected profit structuring and and loss cost of capital, statement terms of repayment Projected income statement
Operational expenditure budget
Planning for working capital management
Sales forecasting Projected cash flow
Index
8
CONCLUSION The future of brick and mortar retail grocery business is Omni channel. Whether
in-house or with the help of retail grocery consultants having Omni channel expertise or retail e-commerce consultants, retail and online grocery business will share a common future So, the question is not simply ‘how to start a grocery business online’ but to
answer how to build a business with a solid foundation and digital agility
Index
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FOR MORE DETAILS:-
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