BigBasket to open 200 Fresho stores pan-India by FY23
06 November 2024
Tata-owned e-grocer BigBasket, which opened its first physical store under the brand name: Fresho in Bengaluru, said it plans to open 200 physical outlets across the country by fiscal year 2023. The Bengaluru-based online grocer aims to increase that number to 800 stores by 2026, its cofounder and CEO Hari Menon said. “We want to be everything in grocery (business). This is very strategic in nature as a large portion of customers still want offline shopping for groceries and fresh supplies. The total addressable market (TAM) is very big,” Menon told ET after the launch of the store on Wednesday. “There will be good chunks of users that remain physical.”
According to the company, this will help the company reach out to as many as 500 million new users over a period of time. Menon said this is a significant growth opportunity for the online grocer. Each Fresho store would be around 2,000 sq ft in size and requires an investment of anywhere between Rs 50-70 lakh.
Tata-owned e-grocer BigBasket, which opened its first physical store under the brand name: Fresho in Bengaluru, said it plans to open 200 physical outlets across the country by fiscal year 2023. The Bengaluru-based online grocer aims to increase that number to 800 stores by 2026, its cofounder and CEO Hari Menon said. “We want to be everything in grocery (business). This is very strategic in nature as a large portion of customers still want offline shopping for groceries and fresh supplies. The total addressable market (TAM) is very big,” Menon told ET after the launch of the store on Wednesday. “There will be good chunks of users that remain physical.” According to the company, this will help the company reach out to as many as 500 million new users over a period of time. Menon said this is a significant growth opportunity for the online grocer. Each Fresho store would be around 2,000 sq ft in size and requires an investment of anywhere between Rs 50-70 lakh.
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