Tata-owned e-grocer BigBasket has announced plans to open 200 Fresho outlets across India 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.
The Fresho stores will essentially sell fresh fruits and vegetables in the
store. However, to access BigBasket’s wider range of 50,000 products, customers
can place orders online through Fresho app and collect them at Fresho stores at
their convenience, Menon told ET.
“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 2,000sq ft in size and requires an investment of anywhere between Rs 50-70 lakh.
