Hari Menon is the CEO and co-founder of BigBasket, discussing sustainable delivery timeframes for quick commerce and impulse categories like fresh meat.
“So you will build a model which is within 30 minutes, right? Less than 30 minutes. There'll be some which will go up to 90 minutes. So 30 to 90 is the range you'll find. Less than 30, less than 90.”
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More from Hari Menon
Insight
Menon: Delivering every grocery order in 10 minutes is structurally unprofitable
“Nobody can profitably deliver every order in 10 minutes. It's not possible. The network of dark stores you'll have to set up to do that is not profitable. So you will never be able to build a good unit economics based on only 10 minutes, which means all orders…”
Hari MenonJun 21, 2022▶ 30:00How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
PredictionDidn’t hold up
Quick commerce will cap out at 25 percent of total grocery purchasing
“So these are the two strong use cases, and in my view, this will contribute to about 20 to 25% of the grocery buy, and that's it. Rest of it will continue to be planned and continue to be the way it's working”
Hari MenonJun 21, 2022▶ 32:32How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
PredictionDidn’t hold up
Menon claims BigBasket will be the only profitable quick-commerce grocery player
“The only one that's going to build a profitable model today is of us because it's not for us. It's an extension of our business, right? I've got the same DC, same supplier, same everything. My supply chain is just getting more and more loaded, which helps me g…”
Hari MenonJun 21, 2022▶ 34:11How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
Insight
Grocery delivery businesses cannot succeed without owning their inventory
“Grocery, you can't do without owning inventory, right? That's the model that, that runs. People have tried different models. None of them have worked.”
Hari MenonJun 21, 2022▶ 7:51How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
Insight
Startups outgrow traditional venture capital upon reaching one billion dollars in sales
“The other more important reason that we did it is that we have reached a stage in our company at a billion dollars of sales. You need to now get strategics or you need to get piece because you at one point go out of this whole BC world because of the quantum o…”
Hari MenonJun 21, 2022▶ 24:59How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
AssertionNot checkable as stated
Quick commerce took market share from neighborhood kiranas, not BigBasket
“When these 10 minute, 20 minute things came, lot of our customers went there to buy stuff, which they used to go to Kirana and buy. So none of the big basket business went there.”
Hari MenonJun 21, 2022▶ 31:09How He Built India’s Largest Online Grocery Store? Ft. Hari Menon, Ceo & Co-Founder, BigBasket
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