Page 2 - Grocery Retail

Grocery delivery app Instacart aims for up to $7.7 bn valuation in US IPO

The San Francisco-based company and its selling shareholders are looking to raise up to $616 million by offering 22 million shares priced between $26 and $28 each, it said in a regulatory filing

BigBasket loss widens to Rs 1,535 cr in 2022-23, revenue up by 5%

Online grocery delivery firm Innovative Retail Concepts, which operates as BigBasket, has posted widening of loss to Rs 1,535 crore for 2022-23, according to details shared by Tofler. Tofler said the loss of BigBasket increased by 89 per cent, implying the company had posted a loss of around Rs 812 crore in 2021-22. The company's revenue increased by 5 per cent to Rs 7,462 crore. "The company further reported a net loss of INR 1,535 cr during the same fiscal. This is 89 per cent increase from the last financial year. The company's total expenses for the fiscal were reported as Rs 8,998 crore," the report said. BigBasket declined to comment on the report.

People buying fuel, jewellery, grocery to offload Rs 2,000 notes: Survey

Fuel, jewellery and daily groceries are the top three preferred items for people to offload their Rs 2,000 currency notes post the RBI's announcement of withdrawing the currency note from circulation, revealed a new survey. The pan-India survey, conducted by location-based social network Public App, also found out that a whopping 55 per cent of people are planning to deposit their currency notes at the bank, while 23 per cent and 22 per cent are planning to spend them and get them exchanged, respectively. The Reserve Bank of India (RBI) on May 19 made a surprise announcement of the withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks. In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently. The poll results, shedding light on the citizens' perspective and providing ...

Even with smaller incentives by Centre, daily orders on ONDC touch 30,000

ONDC's majority of retail orders come from the food and beverage category, with a small amount coming from the grocery category

ONDC aims to hit 100,000 daily orders in the next few months: Report

The goal of 100,000 daily orders is expected to occur over the upcoming few months as network participants (NPs) adopt a new set of network specifications

Small grocery stores are making a comeback despite growing ecommerce demand

Despite the rapid rise of modern trade and ecommerce, FMCG companies said they would continue to focus on direct distribution in both urban and rural areas, primarily targeting local grocers

Urban markets pull demand for daily groceries and essentials up in Q4

The quantity of FMCG goods purchased, or volumes, increased 2.1% in rural markets and 5.9% in cities YoY, the report said

Zepto CFO Jitendra Nagpal quits, plans to launch a venture capital firm

Meanwhile, Zepto has announced the appointment of crypto firm CoinSwitch's chief financial officer Ramesh Bafna as its new CFO. Bafna is an ex-CFO of Myntra and an early member of the Flipkart team

Grocery delivery app MilkRun to wind down business, lays off 400 employees

MilkRun in February had announced it would make 20 per cent of its then staff redundant, as part of a move to consolidate its delivery hubs

Bigbasket may launch IPO by 2025 after $200 million funding: CFO Parekh

Controlling about a third of India's online grocery market, Bigbasket was acquired by Tata last year

Food bills zoom as UK grocery inflation soars to record 14.7%: Report

The jump in prices means the average annual shop is set to rise by £682 ($782) even as consumers contend with rising energy bills as the weather gets colder

Recovery tracker: Vehicle registrations in latest week up 15% over 2019

Better aviation traffic in seven days to Oct 2, freight numbers improve

BigBasket to raise $200 million at a valuation of $3.5 billion: Report

The infusion of fresh capital comes at a time when the company is aiming to expand its core offerings to compete with competitors like Dunzo, Zepto, Swiggy Instamart and others

Organised food, grocery retailers' revenues to grow 20% YoY in FY23: Crisil

Also, despite heightened competition from quick commerce players, revenue of food and grocery retailers will be higher by 38% over FY20

Zomato integrates grocery delivery via Blinkit on main app in pilot test

The pilot test is currently being organised at select circles in Delhi-NCR, and after analysing the response, it will be expanded to other cities as well, according to company sources.

Reliance Retail enters general trade with its own FMCG grocery brands

In the non-foods space, it has entered the personal care and home care business

Lifestyle & grocery retailers reverse FY21 trend, hire over 180,000 people

The total number of employees in eight of the top retailers in India went up 57 per cent to 4,90,000 in FY22, with Reliance Retail hiring the most number of people at 1,61,000

Ola bets on 10-minute delivery promise, but experts sceptical

Finger in too many pies? Market doesn't reward confusing narrative, they say

SoftBank-backed Meesho lays off 150 employees from grocery vertical

Last week, firm said it was integrating grocery biz within the core app to offer users unified shopping while driving stronger synergies across customer acquisition, technology, product and talent

udaan takes on Amazon, Flipkart, JioMart to win Indian e-grocery market

Grocery needs supply chain of fulfillment centres or hubs in an area or region, and several small branches serviced from those centres; it is this challenge udaan is meeting