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Mumbai: Tata Digital, a wholly owned subsidiary of the Tata Group, said it is acquiring a majority stake in online pharmacy 1mg, making this the second majority acquisition in the digital economy, after the e-grocery BigBasket equity purchase. The investment is in line with Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a
While top players, including Bigbasket, Flipkart, Amazon and Grofers put the blame squarely on supply chain disruptions last year, a combination of factors caught these online delivery majors unawares during the current lockdowns prompted by the second wave of Covid.
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In December 2013, Albinder Dhindsa and Saurabh Kumar started Grofers out of Gurugram. They wanted to solve the on-demand pick-up and drop-off services for Indian consumers in partnership with local stores, which were struggling to solve this problem.
Grofers stepped in with an aim was to ensure that consumers benefited on the quantity and quality front. As of 2021, transactions between merchants and consumers are much more organised and many gaps have been filled– thanks to an entire ecosystem s tech-led approach to solving problem statements. Now, the Softbank backed e-grocer, which is focusing on private label products to drive overall sales growth, is expecting its gross merchandise value (GMV) to grow 4X to around Rs 30,000 crore by 2022.