Not in a hurry to add new categories; will focus on grocery: BigBasket CEO Hari Menon
BigBasket said it is not in a rush to broaden its product portfolio and will continue to focus primarily on grocery even as quick commerce rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
“We evaluate new categories carefully and are very careful about entering segments beyond grocery… For now, we’ll remain a grocer and depending on the need we will keep adding categories as we go along,” Hari Menon, cofounder and CEO of BigBasket, told ET in an interaction on Tuesday.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitOn March 4, ET reported that Blinkit and Zepto are expanding their presence by adding categories such as fashion, beauty, electronics, and toys. Subsequently, they plan to introduce thousands of stock-keeping units (SKUs) in the next two months.
BigBasket, though, will only diversify into adjacent categories to grocery like kitchen and home appliances, Menon said.
He was speaking on the sidelines of an event in Mumbai where BigBasket announced a strategic partnership with celebrity chef and entrepreneur Sanjeev Kapoor to launch a new frozen food brand named Precia. The brand will cover three product categories – frozen vegetables, frozen snacks, and frozen sweets. It aims to achieve a target of Rs 100 crore in online sales by 2026.
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