Technology for MSMEs: Business-to-enterprise marketplace Jumbotail, which connects kirana shops and supermarkets with brands and staples producers, is hunting to add 2 lakh kiranas by finish of the monetary year 2021-22, up 2.5X from more than 80,000 presently, Cofounder Ashish Jhina told TheSpuzz Online. “There were 30,000-35,000 kiranas on the platform pre-Covid. We now serve 80000+ kiranas and by the end of FY21 we aim to serve 2,00,000 kiranas in India.” Co-founded by Stanford MBA classmates S.Karthik Venkateswaran and Ashish Jhina in 2015, Jumbotail also provides an inhouse complete stack provide chain network with fulfillment centers, distribution centers to allow last-mile storefront delivery and payments collections from its shoppers apart from a fintech platform to facilitate working capital credit for kirana shops and sellers. The B2B e-commerce industry in India presently has players like Amazon, Flipkart, Udaan, and other people.
“More than 300 new brands across FMCG and staples categories have come onto Jumbotail’s technology enabled platform since the start of the Covid 19 pandemic. Jumbotail has also doubled the portfolio of its private brand Jumbofarms to provide retailers with sustained availability and quality during the pandemic. Two out of every three retailers on the platform buy at least one Jumbofarms product each month,” stated Jhina.
The startup has now also expanded beyond Bengaluru to 13 cities across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Punjab, Chandigarh, and more than 50 Tier III and Tier IV towns in Uttar Pradesh, Uttarakhand, Haryana, Bihar, Jharkhand, Punjab, Himachal Pradesh, Jammu, and Ladakh. Jhina added that Covid has changed retailer behaviours permanently though the firm is seeing 50-one hundred per cent development in the quantity of retailers purchasing categories like biscuits & snacks, wellness drinks, tea & coffee, soaps, and home care on the Jumbotail platform indicating a larger consumption from nearby kirana shops in the course of lockdowns.
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As per RedSeer estimates, India’s retail B2B industry will expand at a CAGR of 10 per cent to attain $1.3 trillion by FY25 even as on line B2B is most likely to develop the quickest, at a CAGR of more than 80 per cent on the back of its capability to connect stakeholders in the retail provide chain.
IPO-bound Flipkart had last month reported a threefold boost in e-commerce adoption amongst kirana members for its wholesale enterprise launched in September last year with the acquisition of the wholesale enterprise of Walmart in India that operated 29 Best Price money-and-carry wholesale shops. Flipkart Wholesale stated it added one in each 3 shoppers is now transacting on line by means of the Best Price app and web-site. On the other hand, Amazon Wholesale had reported a 70 per cent decline in its income for FY20 at Rs 3,388 crore though net loss stood at Rs 133 crore – down 5 per cent from the preceding monetary year, according to regulatory filings sourced earlier from Tofler.