MaxWholesale, a B2B e-commerce platform for Kirana stores to source online inventory, generated sales worth over Rs 1 crore in a single day, yesterday. The revolutionary business model followed by this IAN Fund and Abu Dhabi’s Al Falaj Investments (AFI) funded startup has resulted in achieving this feat.
Coronavirus Lockdown and Startups
Through measures taken at the ground and overall level, MaxWholesale has seen a 3X jump in the average order size post lockdown with the number of items per order growing from 8 to 15, i.e. a 2X jump. Due to their foresightedness, MaxWholesale ensured that the ground staff and vendor vehicles were retained post the lockdown announcement.
Acknowledging employees and their efforts, the company gave bonus pay for April to all its ground staff. They supported the FMCG suppliers by deploying their own vehicles to help in unlocking stuck inventory to their warehouses as well as delivering to other buyers.
Their data showed extreme polarization in the type of products retailers were looking for as they focused on the product category in demand rather than the brand name. Based on this insight, MaxWholesale started working with suppliers looking for the right product categories.
This streamlined operations and inventory planning by MaxWholesale resulted in receiving more than Rs 1 crore worth of orders via their app in less than 12 hours after opening order taking. The day ended at Rs 1.25 crores of net sales.
Commenting on this, Samarth Agrawal, Founder & CEO, MaxWholesale said, “During such unprecedented times, kiranas have become the lifeline for the country. As a responsible company, we want to deliver and come up with solutions that benefit all our stakeholders. We have ensured that our on-ground staff and our suppliers get the best of our capabilities. The confidence that the suppliers and retailers have bestowed upon us has made us achieve this feat. We are committed to making Kirana stores comfortable with technology by solving their core problem of dependable supply.”
Shankal Lal Gupta, proprietor of Aap Ka Bazaar, Dwarka said, “MaxWholesale’s service is very good and timely, providing us with 95% of items we require from them, delivery is great”. Ajay of Fresh Retail, Greater Noida said, “Even during the lockdown their services are available, we know no matter what MaxWholesale will remain committed to our order”.
MaxWholesale also launched Radius – The Neighborhood App last week that allows consumers to get in touch with 13,000 Kirana stores and local retailers in Delhi/ NCR, further empowering them.
Note: If you have any inspiring story to tell us, about individuals and businesses, that are reaching out to help the country and the ones in need during the lockdown, please connect with us at email@example.com. Help us tell the world about the efforts of the Coronavirus Warriors!