Grocery retailers aren’t going to be left behind as online trading gains popularity. Online grocery businesses have exploded to fill the digital market as eCommerce is currently altering the entire planet. However, not all of them have managed to survive the unstable e-grocery market. Our very own Bigbasket is one such company that has just risen like a phoenix.
Over a few years, Bigbasket has grown to become one of India’s biggest supermarkets. If you have this app on your mobile, you can shop for groceries while lounging on your couch at home. The e-grocer saves its clients’ time and effort by eliminating the need to physically visit grocery stores.
We can get our groceries delivered to our door with only a few touches on our cellphones. At the moment, the company operates out of offices in Mumbai, Bangalore, and Hyderabad.
BigBasket, one of the largest online supermarkets for groceries in India, was founded in 2011 at a period when the country was only beginning to use e-commerce. The grocery delivery service’s main office is in Bengaluru, and it provides services to several Indian cities, including Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Kolkata, Gurgaon, Visakhapatnam, Visakhapatnam, Surat, Nagpur, Patna, and Indore.
The platform was established at a time when the busy Indian workforce was finding it challenging to find time to buy groceries and necessary household supplies.
Users of Bigbasket have the freedom to place orders at any time and have them delivered at a time that works for them. The online grocer offers a variety of groceries and food items, such as fruits and vegetables, food grains, oil, masalas, bakery goods, beverages, branded foods, personal care items, home goods, eggs, meat, and fish. It currently has a very varied selection of nearly 20,000 products spread across many different categories, and its catalog includes more than 1000 companies. A promise of the lowest prices and prompt delivery services is made by the startup.
According to reports, BigBasket is valued at $2 billion. To date, BigBasket has raised nearly $1.1 billion through loan and equity financing rounds. For over 9,500 crores, the Tata group will purchase a 68% ownership in the BigBasket platform.
The platform has rivals, including firms like LocalBanya, PepperTap, which is supported by Sequoia, and Grofers, which is backed by SoftBank.
The e-grocer has also created three new businesses, including BB Daily, BB Instant, and BB Beauty, in order to investigate new potential and regions. According to a research from Entrackr, BigBasket receives roughly 300K orders daily via BB Daily.
The Success Story
Bigbasket’s success, according to Your Tech Story, demonstrates a high level of fervor and faith. The internet business was established in India in 1999 by Mr. V.S. Sudhakar, Mr. Vipul Parekh, Mr. Hari Menon, Mr. V.S. Naresh, and Mr. Abhinay Choudhari. The business’s original name was Fabmart.com. The company began operating Fabmart, an online grocery store, in 2001.
After it became successful, the creators made the decision to create Fabmall, a physical retail chain that was a part of a South Indian supermarket chain. The founders’ passion for online grocery persisted even after the company was sold to the Aditya Birla Group in 2006 and rebranded as “More,” leading to the creation of Bigbasket.com.
It was fortunate that they timed this debut to coincide with the peak in smartphone popularity. Bigbasket effectively capitalized on the fact that more and more individuals were starting to choose to make purchases online. After receiving a $10 million first round investment from Ascent Capital, the company intended to expand its scope. The biggest difficulty the company faced was maintaining its business model in the face of all the obstacles. To address this issue, they invested five years in study, coming to the conclusion that providing individualized services to their clients was the best strategy for safeguarding their position.
The company has recently been experiencing tremendous challenges as a result of a major staff shortage brought on by the COVID19 epidemic. The business dealt with it by switching to a community selling model, where it asks apartment buildings to gather and post orders collectively for their residents. Despite having a smaller than usual workforce, this helps the business satisfy customer demands. The CEO of Bigbasket, Hari Menon, stated that in the past, Bigbasket’s delivery guys would make at least three to four visits to a specific apartment in order to make deliveries in that same neighborhood or apartment. They now start making delivery three times per week.
Technologies leveraged by Bigbasket
New-age technology are helping e-grocers in their mission to attract contemporary consumers. Bigbasket uses analytics, machine learning, and artificial intelligence to improve customer experience and streamline operations.
Bigbasket and Analytics
Tableau, which is used to transform complex data into simpler ones, and Power BI, which is used to analyse data and share insights on it, are two analytics solutions that Bigbasket uses.
Bigbasket’s market is growing thanks in large part to data analytics. Let’s have a look at how Bigbasket utilizes these resources.
Sifting through unstructured data to get the most important information
The Bigbasket crew needs to work with a sizable amount of primarily unstructured data. This information is gathered by analyzing customer online habits and transaction histories. Customer analytics thus aids the business in understanding the relationship between the delivery matrix and customer loyalty.
Using analytics to enable personalisation
The analytics team provides customers with a variety of solutions in an effort to improve and personalize their experience. Additionally, it aids in the identification of clients and increases engagements such as conversations and offers. To better understand client behavior and tailor the company’s personalisation, analytics are used.
Using predictive analytics to reduce flux in inventories
By using predictive analytics, the company may avoid both overstocking and running out of inventory. This strategy calls for demand forecasting, which will help the supply chain team plan for things like the drivers, vans, CEEs, and equipment used at various sites. It also helps in reviewing the variety of orders and volumes so that the supply chain team can plan appropriately.
Bigbasket and IoT
In order to guarantee the quality and freshness of products like fruits, vegetables, and other grocery items, Bigbasket also uses IoT-powered applications.
The management of the product’s proper temperature and the division of hot, frozen, and cold things are two challenges that must be overcome while delivering fresh items from the warehouse to the customer’s doorstep.
To guarantee that each item is packed in the appropriate container and to help balance the different temperatures of each unique item during the journey from the warehouse to the final delivery location, the IoT application helps understand the information about the item.
Another technology that Bigbasket has incorporated is artificial intelligence and machine learning.
According to Subramanium in an interview, the company has invested in artificial intelligence and deep learning to develop smart kiosks, also known as “BB instant.”
In essence, these kiosks are intelligent devices that are app-connected. The customer uses the app to place their order before going to the machine. The consumer can then leave right away with the things in their basket while the billing is handled automatically from a cashless domain and the customer receives the bill via the app with a variety of payment methods.
The AI system is equipped with built-in recognition tools that use cutting-edge deep learning algorithms to use picture scanning principles to identify the purchased goods. The system interprets, provides the appropriate product to the customer, and manages the availability and billing processes.
Bigbasket uses both analytics and machine learning in terms of machine learning to ensure quick delivery. In order to pack various order sets, the delivery process is now started by detecting the common routes and state of vehicles.
The team gathers information about the optimal route, the number of vehicles needed on a certain route, and the current traffic conditions in order to start a perfect, on-time delivery. The machine learning-driven model evaluates both real-time scenarios and customer requirements using useful data channels. The concept makes it easier to manage reverse pickers, scheduled deliveries, and multi-level picker tracks.
Another strategy for tracking the purchasing habit is hyper-personalization. It has the potential to make management possible at the individual level. The company’s well-known Smart basket feature uses AI and algorithms to understand a customer’s preference for purchasing particular things, which improves the customer’s entire shopping experience.
The startup’s biggest problem was getting users to use the service at first because there was so much more resistance. The next difficulty was to keep these consumers while fending off competing market forces including rival businesses, nearby vendors, and consumer preferences.
It was difficult to succeed as a startup selling groceries at a time when conventional stores weren’t all that out of date. Despite the market growth, there is fierce rivalry in the startup. Despite the fact that they are steadily acquiring market share. The business continues to have a strong consumer base and succeed in the market.
Despite the fact that technology is used to track orders, update delivery information, manage inventory batches, and maintain the website and its apps, as of right now, it is not widely adopted in the distribution centers.
When it comes to its future ambitions, Bigbasket has placed a strong emphasis on investing more money in IoT and AI-driven advancements for the business.
AI Application in Digital Marketing
We’ve seen it all, from huge brand promotions slapped on billboards to creative TV commercials, newspaper, magazine, and radio ads to flyers. The conventional marketing industry has descended into some level of predictability. Marketers now need to spin and change their game since they live in a digitally driven world where the Internet is both thriving and driving. With a multitude of new technology, marketing needs a completely new approach.
Artificial Intelligence (AI) is one of the key technologies that is being sprinkled to add a new flavor in the marketing world particularly in the area of Digital Marketing.
The technology is increasingly taking over the digital world of today.
The main focus of AI is on various strategies and tools that are developed to mimic human behavior. It has already begun to be incorporated into the numerous technologies we use on a daily basis, such as speech recognition and chatbots.
Digital Marketing and AI
Artificial intelligence is quickly taking over the human role of identifying marketing trends since it is equipped with efficient data processing and the ability to react to input. With the help of automated digital marketing services, an increasing number of marketers and brands are using AI in digital marketing to help save time and resources.
Artificial intelligence is benefiting the brands that use it in a few different ways. Here are a handful of them:
- Improved audience understanding: AI can evaluate data to quickly imagine the purchasing patterns and decisions of the company’s target customers.
- More Competent Marketing: AI aids in increasing clarity and reducing uncertainty. This enables the organization to use AI’s data analytics to create a more effective marketing plan for its operations.
- Increased Productivity: Businesses can automate a variety of tedious processes by using AI algorithms. This would help to increase productivity and promote efficiency
- Enhanced Rate of Interest: AI facilitates decision-making and helps create content that performs better. Companies may reach the proper target demographic with enticing offers that they can’t ignore by putting AI digital marketing tactics into practice.
Applications of AI in Digital Marketing
The ability to adapt is essential for survival in a world dominated by technology. All big businesses are now affected by artificial intelligence, which helps them be more productive and improves their customer-business interactions.
The following are a few successful uses of artificial intelligence in the area of digital marketing:
The development of artificial intelligence technology for language processing, semantic recognition, and speech conversion has suggested that customer care provided by AI is more seamless and efficient, resulting in an improved customer experience. Chatbots provide many advantages over conventional customer support, including the following:
First off, AI chatbots enable organizations to go beyond the typical “one-to-one” customer support model. would instead provide a “one-to-many” service, assisting multiple clients simultaneously and across various time zones.
Another advantage is that AI chatbots don’t get tired and can answer customers’ questions and uncertainties 24 hours a day, seven days a week. This not only enables time and cost savings but also guarantees that chatbots can provide support outside of regular business hours, adding a new and improved flavor to the client experience.
Along with these benefits, clients can choose the language that AI customer care will use, allowing businesses to offer customer service on a local level.
As more businesses start communicating with consumers using messaging apps like WhatsApp, Facebook messaging, and Slack, each can benefit from AI chatbots to improve the efficiency and effectiveness of their operations.
Artificial intelligence (AI) helps marketers to provide emails that are prompted by specific behaviors by assisting firms in tailoring their email marketing campaigns based on consumer behavior. Customers receive emails that are more tailored to their tastes, with product recommendations, messages, and captions personalized based on their past behavior.
Artificial intelligence helps marketers optimize their email campaigns so they may maximize their outcomes in addition to providing more tailored content. Among the tools AI uses for email marketing are Boomtrain, Phrasee, and Persado. Marketers can quickly interpret and improve campaigns thanks to these technologies.
Artificial intelligence basically helps email marketers reach the right customers at the right time, ensuring that the given message is relevant, captivating, and increases the likelihood of conversion. Additionally, it enables a deeper understanding and study of the kinds of descriptions, photos, and other objects that produce the most beneficial outcomes.
For the best user experience, artificial intelligence has been used into digital advertising on platforms like Facebook, Google, and Instagram. These systems analyze user data, including age, gender, demographics, interests, and other details, to display the most relevant adverts and improve the effectiveness of digital ads.
Marketers can now both identify microtrends and foresee trends thanks to AI technologies. This in turn enables marketers to decide strategically on issues like where to spend their money and who to target. As a result, brands may reduce wasteful digital advertising and prove that their investments yield positive outcomes.
One such AI solution is Adext, an audience management as a service (AMaaS) application that uses deep learning and machine learning to automatically manage and optimize one’s ads on platforms like Facebook Ads and Google AdWords.
Using artificial intelligence, businesses may evaluate the most profitable content depending on the actions of their target audience. It enables marketers to have a better understanding of the types of content that resonate with their target market, enabling them to produce or distribute more pertinent material.
AI-controlled technologies can help in the creation of expensive forms of material like videos rather than having to pay for their production. For example, the FlexClip movie creator is a program that enables you to create and download high-quality videos without the need for a designer or technical know-how.
AI can be used to curate content in addition to producing it. For instance, Netflix’s recommendation engine makes video recommendations to customers based on their prior viewing habits. According to how users engage with the website and their behavior, these platforms can utilize a variety of AI techniques to offer products, blogs, videos, or other types of material that users may be interested in.
Due to their simplicity, voice search results have changed the landscape of digital marketing by eliminating the need to type. The marketing community has gone crazy over the feature. Now, all one has to do is audibly tell their device what they’re looking for, and it gives it to them. Also available in a variety of languages is the voice search.
With the use of AI, Google’s RankBrain streamlines search results by understanding the user’s voice. As technology has advanced over the years, the mistake rate in voice recognition has significantly decreased, making voice search faster and more convenient than typing on a computer. Numerous voice-activated tools, such as Amazon’s Echo, Google Home, Apple’s Siri, and Microsoft’s Cortana, have greatly facilitated and benefited users’ ability to conduct searches.
The most important component of every business is its website, and any website’s landing page is the key to interactions. If a landing page experience is not excellent, visitors are more likely to leave a website. As a result, overcoming this obstacle is something the marketers must achieve with the help of AI.
The site owners can track visitor interests and behavior using AI capabilities, and they can also provide a customized landing page experience. Tools like Personyze and Unbounce can help in both conversions and understanding user behavior.
Website design has undoubtedly become simpler thanks to AI technology. For instance, The Grid, an AI-powered platform for designing websites, may create a website for a person based on their data and how they interact with the website’s content.
The Grid makes sure that business owners’ attention is exclusively focused on the website’s content. Molly, the platform’s AI designer, works on everything else, including the website’s web pages, colors, and content blocks. The website owners can engage with the website to define its design, much like Siri and Alexa, which will enable them to complete their website design much faster.
The use of data, statistical algorithms, and machine learning approaches to predict the likelihood of future conclusions based on historical data is known as this.
Predictive models assist in estimating the likelihood that a specific prospect will become a client. The likelihood that a consumer would make a purchase can also be anticipated, as can other factors like the quoted pricing, which is crucial for conversion.
Predictive analysis is used in digital marketing for lead score or prospect rating. The sales team can train machine learning models to score prospects or leads according to certain criteria that are regarded as “qualified purchasers” by that team.
Artificial intelligence has undoubtedly made a significant impact on our lives, whether or not we have been able to embrace it. Even though we could see technology as an infringement on our privacy, ethical use of it could be quite beneficial for the field of digital marketing. AI-powered tools are more common and have shown to be quite helpful when evaluating and forecasting the customer experience.
AI-enabled digital marketing tactics can help firms create improved consumer experiences and conduct more successful marketing. Additionally, it will help customers solve issues more quickly.
This era, which is dominated by artificial intelligence, offers a completely new perspective on production, efficiency, and profitability. This gives marketers the chance to embrace an AI-driven future and transform their strategies to stay up with a world that is driven by technology.