Delhi based hyper local startup shutdown its operations
Delhi-based hyper local grocery delivery
service AAGAAR.com has
shutdownits operations and their website is no longer available. They may have been closed between 10th Nov 2015 and
9th Jan 2016.Their facebook page is also not available.It means that they are
done.
First reported by VCcircle,Delhi based AAGAAR had raised
undisclosed amount of Angel funding from a group of investors on 26th Jun
2015.The Startup was founded in November 2014 by Saharawat who had previosly
worked with Shoppers stop and Hypercity.AAGAAR provided fresh and daily
essentially such as fruits and vegetables,groceries,beverages,personal
care,dairy products to consumers at doorstep.
INDIAN Online Grocery market
The e-grocery business is plagued with wafer-thin
margins, high logistics costs, exponential customer acquisitions costs and
fierce competition, and has witnessed a number of casualties recently.Indian
online grocery market is set to hit Rs 2.7 billion mark by FY’2019 following
the surge in number of players operating in the industry, says a report.
Future
growth of online grocery industry is expected to be led by operations in smart
cities and saturation in metropolitan cities, says Ken Research in its report.
'Traditional
grocery stores will continue to be a part of the market but the share of online
groceries will continue to increase at a high growth rate. The market will also
witness the introduction of newer players and better models in the market,' Ken
Research said in a statement.
‘There
will be a high investment in distribution channels and operations experts to
maintain an optimum mode of delivery at a feasible cost’
This
growth is estimated to be fuelled with heavy expansions that will be undertaken
by the existing firms in the market and spreading out to newer markets by
expansion in the user base due to increasing reach of internet and
smart-phones.
Majority
of the customers who buy groceries online are male and are in the age bracket
of 24 years and above. This shows the relevance of the working population to
the market of grocery shopping. A large portion of the population prefers to
shop for groceries once a month, which means that the basket size ordered would
be large and the online grocers can earn better profits from such customers.
The
players operating under the industry are expected to maintain focus on
expanding operations by venturing to more cities and adding more SKUs, the
report said.
INDIAN Online grocery history
One of the biggest
players in the segment, Peppertap, which raised funding from SAIF Partners,
Sequoia Capital and Snapdeal, recently decided to shut down
operations.
In February 2016,
e-commerce venture Flipkart had shut down its grocery delivery app Nearby, five
months after it was launched in Bangalore. Soon after, cab-hailing firm
Ola pulled the plug on its hyperlocal grocery delivery app, Ola
Store.
Reference:
www.knowstartup,com
www.unplugtech.com
http://retail.franchiseindia.com/
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