Updated: Sep 2, 2020
How the idea of delivering milk at your doorsteps made way for the country’s third-largest on-demand grocery start-up?
Built on the idea of having milk delivered to homes every morning, MilkBasket completes our morning rituals while we read our newspapers. Enabling easy grocery, MilkBasket is seen as an online replacement catering hyperlocal grocery delivery. MilkBasket pioneered contactless delivery? Yes, all their orders are delivered contactless in Delhi, Bengaluru & Hyderabad.
MBA graduates Anant Goel, Ashish Goel, Anurag Jain & Yatish Talvadia recognised the grocery needs of customers. They started listing milk and bread initially when the e-grocery market was dominated by likes of BigBasket. MilkBasket currently delivers 9K+ SKUs with a backing of $38.8 M funding from Inflection Point Ventures & Kalaari Capital.
Branding & differentiation
MilkBasket competes with the likes of BigBasket & Dunzo which already have potential market share and also with local players like UrbanRemedy, DailyNinja to gain market share. MilkBasket differentiates by stocking private labels and 22% of the revenue comes from private labels. Market penetration through differentiation has worked in the dairy and fresh produce categories giving them 20% margin even during this lockdown.
A subscription model to deliver groceries without additional charges mimicking the milkman. The focus is on recurring supplies at certain times every day to lower delivery costs. Customers add groceries between 7 am & midnight and get them delivered between 5 am to 12 pm and paid through a mobile wallet in the app.
Milk comes foremost in the items delivered hassle-free, allowing users to keep daily expenses at the check, set vacation time-offs and repeat orders every day. Services like MbBulk and SCO (Senior Citizens Only) to help people sustain lockdown. MilkBasket is planning to deliver prescribed medicines, an addition to the available cluster of categories.
Milkbasket has launched in-hand delivery service for fresh meats, which is expected to contribute 10-15 per cent of the company's bottom line. By December, MilkBasket expects its average revenue run rate to be upwards of 710 crores i.e. 1.8 times higher.