Online Grocery Startup BigBasket Claims To Clock $1 Billion Gross Sales In FY21
BigBasket, an online grocery startup, has clocked gross sales of $1.1 Billion (Rs 8,000 Cr) in the financial year 2021 that ended in March this year.
CEO Hari Menon, in an exclusive interaction with ET, told that the online grocery startup is now expecting to garner gross sales of $125 Mn (INR 910 Cr) in May.
“In the full financial year of 2021, we grew by around 80% compared to an annual growth of 40-45% before the pandemic. Currently, we are seeing higher sales than last year’s peak in July and it would be around 40% higher compared to March 2021 (before the second Covid-19 wave).”
Growing Online Grocery Market
As per a report by RedSeer, the online grocery market has grown 60% from the calendar year 2020 and is expected to grow 41-49 per cent by the first half of CY21. The size of the Indian online grocery market was valued at USD 2.9 billion in 2020 and is expected to reach over $18 billion by 2024.
Need legal assistance for your startup? Just contact us.