During the ET Soonicorns Summit held on September 21, 2024, BigBasket CEO Hari Menon highlighted the enduring significance of kirana stores in the face of the rapid rise of quick commerce in India [5fca8fbf]. Menon emphasized that while the demand for speed in grocery shopping is increasing, customers still value the traditional kirana model for its accessibility and community presence. He noted that customers are prioritizing speed over price when it comes to grocery shopping, a trend that has prompted BigBasket to adapt its business model to meet the demand for faster deliveries [5fca8fbf].
Menon's comments reflect a broader trend in the retail sector, where quick commerce platforms are gaining traction by offering rapid delivery services. However, he reassured that kirana stores, which have long been a staple in Indian neighborhoods, are not going anywhere. They continue to play a crucial role in the grocery supply chain, especially in smaller towns and rural areas where quick commerce may not yet have a strong foothold [5fca8fbf].
This discussion comes at a time when the grocery delivery landscape is evolving rapidly, with companies like BigBasket embracing quick commerce to stay competitive. The company has been implementing strategies to enhance its delivery speed and efficiency, recognizing the changing preferences of consumers who seek convenience in their shopping experiences [5fca8fbf].
As the grocery market continues to adapt, the coexistence of kirana stores and quick commerce platforms may redefine consumer habits and expectations in the coming years. Menon's insights underscore the importance of both models in catering to the diverse needs of Indian consumers [5fca8fbf].