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SnapBizz, headquartered in Bengaluru, provides new age solutions to convert the neighbourhood Kirana stores into smart stores with a host of features to enable the store owner to leverage on latter’s current strengths to gain a competitive edge and increase store profitability.
SnapBizz has helped kirana/ grocery store owners in cities such as Bengaluru, Mumbai, Pune, Chennai and New Delhi deploy its digital technology-led solutions for running their retail stores. The company has set its eye on digitising over 100,000 kirana stores over the next 18 to 24 months.
Snapbizz- Company Highlights
| Startup Name | Snapbizz |
|---|---|
| Headquarter | Bengaluru, Karnataka |
| Sector | Retail, E-Commerce |
| Founder | Mr. Prem Kumar |
| Founded | 2013 |
| Parent Organisation | Snapbizz |
| Website | snapbizz.com |
Snapbizz- About and How It Works
Snapbizz- Founder
Snapbizz- Name, Logo and Tagline
How Snapbizz started?
Snapbizz- Vision
Snapbizz- Unique Selling Proportion (USP)
Snapbizz - Business Model and Revenue Model
Snapbizz- Impact On Kirana Stores
Sanpbizz- Startup Launch
Snapbizz- Funding And Investors
Snapbizz- Competitors
Snapbizz – Growth/ Revenue
Snapbizz- About and How It Works
Snapbizz transform traditional Kirana stores into virtual supermarkets and give them a competitive edge in the current environment to make them far more profitable.
It is the result of extensive market research and pilot studies done to understand the pain points and key challenges of the consumer goods ecosystem stakeholders (consumer, retailer, distributor, and brand). This has led to the development of a unique disruptive product that delivers material measurable value to each of the stakeholders.
It is driven by a highly experienced team with a proven track record in delivering measurable value both developing and developed markets through successful business models and product innovations. A highly passionate team with in-depth domain expertise and track record in prior start-ups, value creation and successful exits across Retail, FMCG, Telecom and wireless technologies.
Snapbizz creates a social impact by:
- Reversing marginalization for SMB’s retailers
- Driving digital inclusion in a large section of India’s workforce
- Skilling the bottom of the retail pyramid
And, there Driving last mile connectivity by connecting kirana stores to consumers and other ecosystem players like:
- FMCG brands and distributors
- Cash and carry chains
- Research and marketing agencies
- Fintech players
Snapbizz- Founder
Snapbizz is founded by Mr. Prem Kumar.
Prem Kumar is an industry veteran with over 30+ years of experience in Retail, FMCG, Telecom, and Technology across developed markets like US and Europe and emerging markets like India, Eastern Europe, China and Africa. In India, he has worked the length and breadth of the country in the FMCG industry and has held leadership roles in companies like Lakme Lever, Benckiser, and SC Johnson.
He has been a part of the founding team that built one of the largest retail chains in Eastern Europe. Currently, he is the founder and CEO of SnapBizz which is India's largest network of kirana stores - a platform that empowers the kirana store owners to leverage their strengths and gain competitive edge in the current changing landscape. Having worked very closely with small merchants across different countries, he is extremely passionate about helping them to be more successful and profitable.
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He has been the voice of the kirana stores to represent their best interest across national and international platforms. Infact, he has been celebrating the kirana stores during the Covid times as the unsung heroes who are in the forefront of serving the country’s large population.
Snapbizz- Name, Logo and Tagline
SNAPBIZZ brings to you a “Smart” Billing Solution especially made for kirana/grocery stores. Perform everyday operations easily and much faster. The tagline: “THE RETAIL BOOSTER” goes perfect with ample amount of support they are currently providing to grocery stores across major cities.
Its logo goes with a ‘bar-code’; which is pretty obvious because Snapbizz software is a GST billing software that can be customized to fit your business needs and enables users to attain higher performance.
How Snapbizz started?
The SnapBizz journey began with Qualcomm conducting a pilot in India to introduce wireless technology into the fragmented retail sector. Given the success of the pilot, they were on the lookout for an entrepreneur who had the experience of building a company in the space. Having seen Mr. Prem Kumar’s work with CisLink, an integrated data system derived company, they reached out to him and SnapBizz was born with Qualcomm being their first investor.
Snapbizz- Vision
Snapbizz’s vision is to develop a mobile technology platform connecting all stakeholders of a fragmented retail market ecosystem while adding value to individual stakeholders.
SnapBizz is the result of extensive market research and pilot studies done to understand the pain points and key challenges of the consumer goods ecosystem stakeholders (consumer, retailer, distributor, and brand). This has led to the development of a unique disruptive product that delivers material measurable value to each of the stakeholders.
It is driven by a highly experienced team with a proven track record in delivering measurable value both developing and developed markets through successful business models and product innovations. A highly passionate team with in-depth domain expertise and track record in prior start-ups, value creation and successful exits across Retail, FMCG, Telecom and wireless technologies.
StartupTalky
Snapbizz- Unique Selling Proportion (USP)
SnapBizz has a range of solutions solutions/apps which allows the kirana stores to carry out the store operations efficiently and effectively. It provides the store owners with their very own consumer app to acquire new customers and service their customers better. Its solutions integrates the kirana stores (via cloud) with FMCG brands, distributors, wholesalers, financial service players and E-commerce players (B2B and B2C) thereby enabling the store owners to get more promotions, better pricing, wider access to assortment, reduce working capital requirements and access to financial services. SnapBizz has had a massive impact on the society – particularly in the following areas:
- Digital and financial inclusion of kirana store owners
- Reversing marginalization of kirana stores
- Skilling people at the bottom of the pyramid
Snapbizz - Business Model and Revenue Model
SnapBizz has developed a unique technology solution for Kirana stores that transforms it into a smart store with the help of a few plug and play options. It has positioned its product as a “money-making machine” for kirana stores as it helps the store owners to improve their profitably. The solutions come with a host of features (back by AI and ML) to help the kirana stores compete with the larger supermarket chains from an intelligence standpoint. The easy-to-use solutions to manage and optimize store operations include:
Point of Sales Solutions:
Based on the business volumes/size of the kirana stores, it has a range of solutions/apps that enables the store owners to digitize all aspects of store operations – billing, customer management, inventory management, online ordering of supplies, create virtual merchandising space, take the store online and cloud-connect them to all the stakeholders of the eco-system to get better promotions/discounts from brands and suppliers
StartupTalky
SnapOrder:
A mobile app that enables Kirana stores of all sizes to go online with their supplies instantly. The consumers can use the app to place orders directly with the Kirana stores – either for pick-up or for home delivery. This enables the Kirana store to manage demand efficiently and prevent over-crowding at the store – particularly during the lockdown period
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Snapbizz- Impact On Kirana Stores
SnapBizz enables the kirana store owners to focus on their weak areas (Store experience, Offers, Freshly stocked produce) and compete against the bigger ecommerce/big-box players.
| Variables that is important to consumers | Customer Satisfaction at Kirana Stores before Snapbizz Deployment | Customer satisfaction at Kirana stores after SnapBizz deployment |
|---|---|---|
| Store Experience | LOW | HIGH |
| Proximity (from House) | HIGH | LOW |
| Pricing/Offers | LOW | HIGH |
| Convenient payment options (providing credit) | HIGH | LOW |
| Freshly Stocked Products | MEDIUM | HIGH |
| Familiarity with Store Owner | HIGH | HIGH |
Sanpbizz- Startup Launch
The Smart Kirana store once cloud-connected presents real-time access to the various stakeholders of the FMCG ecosystem including brands, wholesalers, distributors, advertising agencies, e-commerce (B2B/B2C) players and financial service players. The cloud platform allows FMCG stakeholders to access valuable data on various facets of the FMCG supply chain. The data not only gives them a birds eye views of the sector nationally and by geography but also helps them build meaningful relationships with the Kirana store owners basis demand and supply.
- FMCG Brands: SnapBizz retail analytics solution enables them to track the performance of their brand SKUs, competition and that of the category. It also allows them to engage consumers visually and contextually, run targeted promotions, overcome supply chain and assortment challenges and furthermore avoid stock-out situations.
- E-commerce players: SnapBizz platform offers them an opportunity to leverage the hyper-local assortment demands, understand inventory and delivery capabilities of the Kirana store so that they can service their consumers efficiently and scale-up operations.
- Wholesalers/Distributors: SnapBizz platform enables them to increase share of wallet in the store and garner insights on what they are missing out on selling to the stores.
- Finserve players: SnapBizz platform gives them access to reach out and engage the Kirana stores with financial service products while continuously monitoring the financial health of the store.
StartupTalky
In the past one month, SnapBizz has launched new solutions that enables these FMCG stakeholders to address the immediate the challenges associated with the lockdown:
- SnapSupply: A mobile app that enables FMCG brands/distributors to list their supplies online for their Kirana store network and enables the latter to place orders. This technology solution enables its large workforce to focus more on addressing the prevailing supply chain challenges than on order generation-related operations
- SnapPulse: This retail analytics solution enables the FMCG brands to track the performance of the products, competition and that of the category on a weekly and monthly basis. The data is collected from the SnapBizz network of stores across the country and the insights are shared by the subject matters experts/ data scientists working in SnapBizz regularly.
- SnapTek: SnapTek enables accelerated technology migration for all FMCG stakeholders with services likes white-label applications, tech consultations, etc.
Snapbizz- Funding And Investors
SnapBizz’s current investors include marquee VCs such as Jungle Ventures, Taurus, Blume Ventures and strategic investors such as Nielsen, Qualcomm, AUO and Mr. Ratan Tata and has raised in excess of USD 14 million over Seed and Series A rounds .
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Snapbizz- Competitors
SnapBizz's top 7 competitors are BeWo, EasyPOS, Eretail Cybertech, Nukkad Shops, Getpose, Vend and Hike POS. Together they have raised over 58.6M between their estimated 449 employees. BeWo is the top competitor of SnapBizz.
Snapbizz – Growth/ Revenue
SnapBizz currently has a network of 10 000+ kirana storesacross 7 major cities across India that collectively do a business (GMV) of approx. of $1 Billion/year. Given its successful inroads into major cities, the company was on its way to build a network of 50,000-60,000 Class A stores and 1,50,000 -2,00,000 Class B/C stores across 42 cities in the next couple of years – and becoming a $ 21Bn platform.
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However, given its increasing relevance due to the lockdown (where most grocery fulfilment is being done by kirana stores), the company is now on its way to achieve that target much earlier.
Snapbizz - Future Plans
Given its increasing relevance in the space due to the current circumstances, SnapBizz is on a fast-track mode to build a network of 150,000 stores across 42 cities and becoming a $ 15 billion platform.
Author: Avantika Bhardwaj
Source : https://startuptalky.com/snapbizz-success-story/
Date : 2020-09-11T08:53:17.000Z