Grofers' recent 8-day sale clocked ₹515 crore in revenue but consumer sentiment was 'low'
- In an interview with Business Insider,
Grofersco-founder and CEO Albinder Dhindsaexplains why he has the low consumer sentiment to thank for their higher sales.
- Grofers in its latest
Grand Orange Bag Day salesaw 8 crore units being sold, out of which their in-house range constituted 40%.
- It saw 10 lakh new shoppers and delivered a total of 32 lakh orders.
In the very oxymoron-like situation, Grofers CEO
It sold 8 crore units in its latest Grand Orange Bag Day sale, out of which their in-house range constituted 40%. It saw 10 lakh new shoppers and delivered a total of 32 lakh orders.
“The sale was better than the higher end of the spectrum that we had targeted. Our initial read is that grocery is right now at the value-driven stage. Our products are priced for lower middle end customers and this segment of grocery picks up when the consumer sentiment is not very positive,” he said.
Dhindsa added that this is when people focus on saving on essentials too, as they look for cheaper brands. This trend picked up during the end of last year. “It just magnified during the sale,” said Dhindsa.
Grofers has two big sale events in a year – the Republic Day Sale and the Independence Day Sale. “These two are ways for us to go out on a larger scale. These are planned for throughout the year. From next month onwards, we will start preparing for the Independence Day sale,” said Dhindsa.
For the recently concluded sale, the startup hired 4,000 people, and added over 3,000 new service partners for delivery in key markets.
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