Tata Group enters grocery business with GrocerMax acquisition

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

After analyzing that consumers now prefer to buy online rather than offline due to various offers, Tata group has planned to enter into the grocery business. Tata Group is buying the management team and technology infrastructure of Gurgaon-based GrocerMax to invest in the grocery sector. To compete with rival Amazon and Bigbasket, the new team will set up the online platform for Trent Hypermarket which is a joint venture between Tata and British retailer Tesco. GrocerMax will shut down its business in Gurgaon as Tata Group is not present in North India.

The Tata group runs three formats under the Star banner—Dailies, Market and Hyper and has around 42 stores. While Tesco has nearly 6,800 stores globally. But the opportunity offered by the ₹32 lakh crore retail market is attractive for any player, foreign or local. Food and grocery account for almost 50% of the overall retail basket in India.

GrocerMax was founded two years ago by Gaurav Juneja and K Radhakrishnan. It is a hybrid platform for the grocery that keeps only 10% inventory, sourcing the rest from supermarkets and provisional stores in real-time.

Online grocery business will give more information about products or categories of products to consumers that will interest them and provides them with greater availability.

The online grocery space in India, which has seen a minor shakeout over the past year, has attracted more players as well. While LocalBanya and Pepper-Tap suspended operations, Grofers shut in multiple cities. Offline players such as Reliance Fresh and Godrej Nature’s Basket have launched omnichannel initiatives, though the scale may not be too big right now.
- Advertisement -

Latest News

Sports discovery space Sportido bags undisclosed amount of funding from IP Ventures, others

Sportido, a sports discovery startup, has bagged an undisclosed amount in its second round of funding from IP Ventures,...

Sequoia India, Hillhouse Capital, others infuse $70 million in used car platform CarDekho through series D round

CarDekho, a platform to sell and buy used cars and an automobile subsidiary of Girnar Group, has bagged $70 million (approx INR 498 crore) in series...

Omidyar Network, Eight Roads Ventures, others invest $6 million in used bikes startup Credr

Credr, a marketplace for used bikes, has secured $6 million (approx INR 38 crore) in an investment round from Omidyar Network, Eight Roads Ventures,...

PUBG mobile to get 90FPS support soon

Qualcomm announced its next-generation processor that will support 5G, 200 MP camera, and 144Hz displays. The new processor will have a new function that...

Opera v55 for Android brings Super Dark Mode

Opera is the oldest mobile browser, we have used it on simple keypad mobile to Android smartphones. It used to be the first choice...
- Advertisement -

More Articles Like This