SnapBizz, a retail-technology firm announced its partnership with bigbasket, India’s largest online supermarket, in an effort to transform India’skirana stores into technology-enabled modern retail stores. With this partnership, SnapBizz and bigbasket will enable the kirana stores to automate the supply chain and inventory management processes.
bigbasket and SnapBizz have created an auto-replenishment supply chain platform for retailers to give them a competitive edge. Based on business rules and predictive analytics, orders are auto-generated multiple times in a week by the retailer using the SnapBizz system, which is fulfilled by bigbasket promptly for both packaged and non-packaged goods.
With significant transformation taking place in India’s traditional retail space, retailers are now focussing on the demand side and more efficient consumer engagements. To focus on these business-critical areas, retailers require simple solutions to comprehensively manage their supply chain dynamics. The platform created by bigbasket and SnapBizz not only addresses the supply chain challenges of the retailer but also significantly reduces the working capital requirements and frees up his time to attend to his customers and build upon his core strength, which is customer rapport and deep insights about their requirements.
Commenting on the partnership, Prem Kumar, Founder and CEO, SnapBizz said, “We are excited to partner with a highly efficient retail disrupter like bigbasket to streamline the supply side in the kirana sector. In the current day scenario where customers are migrating to modern trade for better services, offers and savings, we are committed to showcase the strength of our kirana stores and drive traffic back to them. Through smart merchandising and promotion, direct revenue generation opportunities from brands, smart inventory management to enhance profitability and targeted customer engagement tools, SnapBizz aims to transform the kirana store into a smart modern store.”
Mr. Abhinay Choudhari, Co-Founder and Head New Initiatives of bigbasket in a statement said, “We are in the process of scaling up our B2B business and have plans to achieve Rs. 1000 crore exit rate by end of FY 2018. Our alliance with SnapBizz will enable our partner kirana stores to efficiently manage their sourcing and inventory. The platform jointly created by us will aid in managing the supply chain dynamics, which is crucial for the smooth functioning of any retail business. bigbasket’s large-scale sourcing of commodities, staples, fruits and vegetables and FMCG products, and the wide assortment of products will act as a single source of supply for kirana stores.”
The partnership will provide kirana stores the much-needed technology, sourcing, supply chain and processes to achieve a level playing field with modern retail. In a first-of-its-kind innovation in India’s traditional retail space, the move will embrace automation in the lower end of the retail pyramid.