Recent technological advancements assist grocery retailers and wholesale grocery suppliers in streamlining store visits, increasing sales, and thus improving the consumer experience.
Mobile apps are top among the list of these technological innovations!
Gone are the days when people and business retailers stand in long queues for the daily essentials. The Indian smartphone market is estimated to reach 173 million units by the end of this year. Because of this high mobile phone penetration rate, now, everyone is getting their orders of any quantity to their doorstep with a single click on their smartphones.
Thanks to the secure mobile applications and their ease of use!. They made online grocery shopping more convenient, seamless, and affordable.
As per the statistics from Euromonitor, the global grocery retail market is worth $5.9 trillion. An outstanding figure, right?
It is the result of technology that has laid its footprint in grocery retail with a myriad of benefits. It helps both Kirana store owners and business retailers.
Let’s dive in.
For Business Retailers:
Not so long ago, many business retailers such as Kirana store owners have faced challenges in procuring various grocery items on time, logistics management, and inventory management. It often causes them to lose their business.
Courtesy of grocery mobile apps like Qwipo!.
- This tech-driven digital solution helps business retailers overcome the challenges in procuring groceries of any type to a large extent.
- No minimum orders!. They can place any number of orders and any quantity. And they can place orders from anywhere and at any time.
- They can track the orders and the estimated date and time of delivery in real-time.
- Many business retailers are unable to track their inventory, resulting in expired grocery items, missed sales opportunities, and so on. With the help of grocery apps, they can cater to a wider range of groceries and services without increasing their working capital. It offers the best of both worlds – they can keep track of the available groceries and they can have customer satisfaction.
- Also, the app helps them analyze past sales and emerging trends and get insights into their business.
- Last but not least, these apps help in processing seamless transactions. Digital payments are the results of Digital India and Demonetization initiatives launched by the government and also the latest pandemic.
According to a recent NASSCOM analysis titled ‘Digital Payments India — Short to Medium Term Effects of COVID-19 "The use of digital payments for everything from groceries to utility bills to cab fares to fee payments, etc. has seen a colossal rise due to the virus’s fear”.
This digital POS solution helps business retailers, promote digital payments, and supports social distancing. They can accept payments using their smartphones and barcodes and keep track of the number of payments.
When business retailers make orders for their requirements and get them, they can gain the above benefits.
For Prime Vendors and Prime Suppliers:
Technology has shaped the way businesses operate. Wholesale grocery suppliers are no exceptions for this. According to consultant Praxis Global Alliance reports, the market of wholesale grocery online in India is expected to grow $ 7.5 billion by 2022 at 70% of staggering CAGR.
With the help of mobile apps, the B2B grocery suppliers or grocery suppliers can have visibility, brand credibility, and high turnovers. The other benefits include the following.
- With the help of applications, it is easy to receive orders and manage them from anywhere and at any time.
- Managing inventory and stock manually will be a tedious and tough task. With technology involvement, prime suppliers or vendors can manage it without hassles. When they leverage technology into their inventory system, the systems update the database, transactions, the number of orders received/delivered/cancelled, the grocery stock, etc. automatically.
- Both the prime suppliers and prime vendors can be onboarded with Qwipo business retailers. As a result, they can now reach out to more retailers than ever.
- They can increase the new customer acquisition and customer retention rates.
- Availability of analytics is the greatest advantage of harnessing the power of technology in the grocery retail industry. They can know the insights, customer preferences, their behavioral patterns, understand customers and the local market. In a nutshell, they can have the insights of their business that help them make data-driven decision-making.
What do you think? What will it take to win customers and ROI in the grocery retail business?
The adoption of technology!
Technology offers convenience and more personalized services like same-day delivery that makes all the customers opt for online shopping for their daily essentials.
So, by leveraging technology into the grocery business both business retailers and prime vendors reap great benefits.