BigBasket enters the offline market, opens “fresho” stores.

• ByStartupStory     |    November 25, 2021

The Tatas-owned e-grocer BigBasket today opened the shutters of its first-ever brick and mortar store in Bengaluru under the brand name Fresho. This is a fully tech-enabled store with no cashiers, and also provides the option for customers to pick up goods ordered online.   

BigBasket co-Founder & CEO Hari Menon said that Fresho stores would be stocked up with fresh produce and the feedback has been many customers still want to have the “touch and feel” experience to buy fruits and vegetables. He added it’s too early to say if this would be extended to dairy and meats at a later date. 

The plan is to open nearly 200 stores by the fiscal year 2023 and 800 stores by the fiscal year 2026. Fresho is being seen as an avenue to tap nearly 500 million new customers that have never bought groceries online.

What’s more, the Tatas-owned BigBasket sees the offline stores becoming a $1.5 bn business in a few years. 

The Tatas bought a 64% stake in BigBasket at a $2bn valuation earlier this year. “BigBasket will hit revenues of $8-8.5 bn by FY26,” Hari Menon told  in his first television appearance since selling out to the Tatas. He added BigBasket will remain ahead of the market and will always be price competitive.  

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