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India retail is globally biggest open opportunity . Going to reach $1Tn soon.
It's a space where you can make dent and money together!! Best position for businesspreneurs(coined the word for business minded entrepreneurs) to be in.
But it's one of the most complex space also, considering the varied territories ,taste and tones of the billion consumers. Building right business and execution strategy was one of the biggest challenge for us at ShopKirana.
This article illustrate how below 3 pointer strategy helped us build a sustainable and scalable business .
A. Build process/systems: Something which is tough to copy .Technology and innovation played vital role.
Build differentiated technology and systemsBuild tailor made , ground up full technology stake which should not be easily replicableMake it super efficient. Today our supply chain is one of the most efficient in the country.Right TAT: Research and define the right service requirement .Build systems to meet the expectations.Balance output expectations: Speed vs accuracy
B. Build network :Successful businesses have successful networks
We created business model which have network effectWithout bringing thousands of entrepreneurs together we cant be a retail super powerWe build a business model which can multiply itself while we empower people in our network with extraordinary technology tools and great productsToday our local partners are amongst people who are making great money , have better ROIs and are inspired to make dent in retail universeLTV of the network is tremendous and we will keep investing in building an extraordinary network
C. Learn and Build Brand: Great brands are like art , their return is always in multiple, still they are priceless .
Business can't give multiple return till you keep selling featuresWe focused on building brands and capturing market shareToday in some categories our own brands gaining major market shareWe helped big companies launching and building brands using our analytics and power of networkOur services have become part of daily routine for so many customers. Today our platform is having one of the highest reliance globally ,when it comes to e -com platform usage.We have category shares touching 5% in territories we work. (All e com players combined hardly have 1% category share)We are able to eat away 2% market share in every category we enter, within a quarter of the category launch.(Yes, it should be frightening for people in the space!)
We are excited with the fact that "We are able to make a scalable business model where price of gaining market share is almost negligible and size of market is about a trillion dollar."
Would like to have feedback from people from Strategy and India retail background . Will help us learn and improve.