Ashish Jhina, co-founder of Jumbotail, discusses why competition in the Indian B2B retail ecosystem benefits their growth.
Prediction Didn’t hold up
Jhina: Jumbotail will build a $7B-$10B business in five years
“And now we're, you know, looking at expanding, you know, three, four X you know, over this year and over the next five years building a, you know, seven to ten billion dollar business because of the fact that, you know, the model is replicable.”
Insight
Jhina: Agri supply chain issues are best solved working backwards from demand
“Karthik's a lot smarter than I am. He figured out very early on that, you know, starting on the supply side is probably not a great idea. I went around, you know, I tried a lot of different things in that year and a half, you know, looked at food processing, s…”
Insight
Jhina: Producing without demand visibility drives India's food supply issues
“Agriculture is one, or food is one of the few industries in, in this country where, you know production happens without necessarily knowing what demand exists. And that's actually a root of a lot of the issues.”
Assertion Not checkable as stated
Jhina: 100% of Jumbotail orders are placed directly via its app
“We don't have a large sales force on the ground. In fact, you know a hundred percent of our orders actually come, come through the app with the retailers going and, you know, ordering themselves.”
Assertion Not checkable as stated
Jhina: Jumbotail's customer acquisition cost is under $2
“CAC is, you know, less than two dollars. We are operationally profitable, so, you know, we don't end up spending a lot of capital.”
Assertion Not checkable as stated
Ashish Jhina: Typical Kirana stores deal with 100 to 125 suppliers
“The Kirana store, you know, on a typical basis actually deals with over a hundred to a 125 different suppliers today.”