Last updated : July 12, 2021 12:00 pm
The B2B marketplace and New Retail platform is expanding operations to 13 cities and 50 rural districts across 13 states in India and also plans to reach 200,000 kirana outlets in 100+ Tier III and Tier IV towns with innovative business models.
Jumbotail is investing in building world class supply chain and logistics infrastructure for B2B ecommerce grocery in Chennai, Coimbatore, Salem, Vijayawada, Visakhapatnam, Hubli, Dharwad, Belgaum, Hyderabad, Mysore, Bengaluru, Chandigarh & Punjab. Jumbotail is also extending fintech services for SME Lending to kirana stores and sellers in these geographies. To fuel it’s scaling ambitions, the company is hiring across all locations, roles and functions in technology, product, design, decision science, category management, marketing, supply chain planning and design, and HR and people experience.
Ashish Jhina, COO & Co-founder of Jumbotail commented on the expansion saying, “We are building the future of grocery retail in India, bringing together brands and channel partners via our platform, using a highly scalable and low capex business model to create a pan-India distribution reach to millions of kirana stores. We are seeing a huge line up of brands to onboard on our platform. We are rapidly expanding to reach 200,000 kirana outlets in 100+ Tier III and Tier IV towns.”
He added, “We have nearly doubled our FMCG business over the past 4-5 months. Covid has changed retailer behaviours permanently and Jumbotail’s technology powered model is scaling at an unprecedented pace. We are seeing 50-100% growth in the number of retailers buying categories like Biscuits & Snacks, Health Drinks, Tea & Coffee, Soaps and Home Care on the Jumbotail platform indicating a higher consumption from local kirana shops during lockdowns. The superfast adoption of ecommerce by kirana retailers all across the country is a testament to the strong network effects of our business and the scalability of our supply chains.”
According to RedSeer Consulting, India’s retail B2B market will grow at a CAGR of 10% to reach $1.3 TN by FY25. eB2B specifically is expected to grow the fastest, at a CAGR of >80%, driven by its capability to connect everyone in the whole retail supply chain. A traditional retailer is able to jump over a lot of barriers as e-B2B does the tough task for them by connecting to the right set of people to fulfil the requirements of a retailer