Ways to Start and Grow E‐grocery Business

1. Ways to Start and Grow E‐grocery Business

2. Index • Market Research • Website/app Development • Process Manuals (SOPs) • Robust IT systems • Procurement • Marketing Planning • Financial Planning • COVID-19 measures • Summary

3. Market Research 1 Significance:- • Detailed market research is important for new businesses to come up with uniqueness • Helps in deciding a specific target region • Helps to understand the target audience • Helps to understand problems customers face while buying groceries online • Creates a competitive differentiation

4. Website/app Development 2 Why App/Website? • An integrated IT platform is essential in e-grocery business • User-friendly and compatible app delivers a superior user experience • Customers can search for products by filters, find product specifications and prices • Product images and videos, product reviews, area delivery details can be easily checked • Receiving and processing orders becomes easy through order management system • Automated communication with customers in the likes of sending order confirmation notifications, live tracking of their orders, delivery timelines

5. Process Manuals (SOPs) 3 Significance:- • Created anoperational roadmap for each operation or activity • Defines crystal clear duties and responsibilities to all of the employees • Manage to carry out what employees are needed to do • Defines the step-by-step approach to carry out a particular task or operation • Removes subjectivity and doubt • Makes supervision, monitoring and improvisations easier

6. Robust IT systems 4 Significance:- • Makes business processes and operations to run in a synchronized manner • Supports all the departments and the business processes in order to move the wheels of the entire business • Significantly trims operational costs • Simplifycomplex business operations to a matter of few clicks and a few inputs • Collect the data fed into the system and make it possible to access the relevant data for further decision-making • Results in automation, more accuracy of information, and speedy decision-making

7. Procurement 5 Why Procurement is Important? • Procurement is a tricky process for grocery businesses irrespective of the channel • Demand forecasting and precise procurementare necessary for online grocery business • Auto-replenishment systems could be a game-changer.

8. Marketing Planning 6 Significance:- • Marketing begins with the idea of business itself • Digital marketing & conventional marketing can be done for online grocery business • Search engines and social mediaare important fields of online digital marketing • Social media has powertoreachout to a wider audience • Conventional techniques can also be implemented for local audiences

9. Financial Planning 7 Important aspects of financial planning • Assessment of capital requirements, source(s) of capital, capital structuring, cost of capital, terms of repayment • Operational expenditure budget •  Projected cash flow •  Planning for working capital management •  Projected income statement •  Projected profit and loss statement •  Projected balance sheet •  Break-even analysis •  Ratio analysis

10. COVID-19 measures 8 Must-have measures:- • Hygiene and safety precautions • Contact-free delivery • Distancing norms • Preference for digital payment • Use of masks, hand gloves, and face shields by employees • Surface disinfection • Sanitization • Advanced packaging • Routine body temperature check

11. Summary 8 Let’s Summarize:- • The future of brick and mortar retail grocery business is omni channel. • Hygiene and safety precautions and measures are of the highest relevance in the present context • The online food and grocery market in india is growing rapidly • For growth and sustainability, it is important for the new players to keep their basics right from the onset • Building a business with a solid foundation and digital agility has become important.