STARTED AS A FAILURE😞!Once upon a time in 1999 some people dreamt of making a rapid e-commerce change in india. Unfortunately for them at that time India wasn't ready. They started fabmart.com for online delivery of groceries.
Fabmart was a massive failure! They shifted from online platform to offline platform after this major loss. They were lucky that their failed start up was acquired by aditya Birla group.
Bigbasket is the largest online grocery supermarket in India. It was launched in 2011, quite about the time when e-commerce was in its development stage. Bigbasket was founded by Hari Menon, VS Sudhakar, V S Ramesh, Vipul Parekh and Abhinay Choudhari.
Bigbasket is headquartered in Bengaluru and delivers to various cities in India such as Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Mysore, Coimbatore, Vijayawada-Guntur, Kolkata, Ahmedabad-Gandhinagar, Lucknow-Kanpur, Gurgaon, Vadodara, Visakhapatnam, Surat, Nagpur, Patna, Indore and Chandigarh Tricity limits. People working in city, working women found it difficult to find time for shopping for groceries and vegetables. Big basket understood their problems very well! Bigbasket received its funding from many sources to become UNICORN STARTUP!!
Later the company started acquiring !!
And even:
BIGBASKET COULD ADOPT EITHER WAY:
1. INVENTORY MODULE
In inventory model, the orders are received through application and then delivered through stored stock.
Just like amazon and Flipkart. They could have got order from their application and forwarded to the grocery shops owners for further deliver.
THEY ADOPTED HYBRID MODEL! ( Inventory + local delivery)
They made tie-ups with local stores as well as maintained their own Inventory! They even made tie-ups with farmers and worked for their welfare!!
THINGS TO LEARN
1. YOUR IDEA MAY NOT BE APPROPRIATE FOR ONLY A TIME BEING
Don't get disappointed if your idea doesn't work for some time. May be the environment isn't correct right now.
2. LEARN TO SELL YOUR BUSINESS DON'T GET ATTACHED
FABMART.COM was sold. If you get attached to your business, you won't grow!
3. ROME ISN'T BUILD IN A DAY
Don't expect profits in your initial days! You may face loss!
4. SOLVE PROBLEMS
Bigbasket solved the problems of locals and helped them in a apt way.
5. ADAPT BUSINESS MODELS.
They adopted both inventory and market model.
6. DELIVER ACCORDING TO CUSTOMER
Dont see what works for you! See what works for your customers.
7. HAVE A FRIENDLY SALESMAN STAFF
Make sure your salesman talks with friendliness to your customers.
8. ASK FOR HELP
If you can't arrange funds yourself , asking for help won't make you small
9. PRIORITIZE YOUR CUSTOMERS
They ranked their customers according to the number of times they place orders: gold silver and platinum. They try to keep their customers forever.
10. SHOW HOW CAN YOU SOLVE?
Remember them about their problems and show them their solutions.
NEXT TIME WHEN YOU FAIL ! REMEMBER BIGBASKET ONCE SOLD THEIR OWN IDEA!
Great work drashti. Keep it up.
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