Milk Basket

https://www.milkbasket.com/

About

Launched in early 2015, Milkbasket is India’s first and largest daily micro-delivery service. Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket (accessible on milkbasket.com, iOS and Android) is today fulfiling the entire grocery needs of a household everyday before 7:00 a.m . To enable frequent and friction- less buying, Milkbasket has innovated flexi ordering and contactless delivery - both a first in the ecommerce industry - and favourites of Milkbasket customers.

Startup Story

What this also symbolises is the extreme customer centricity, which has allowed Anant and his team to uncover nuances in customer behaviour and build a unique and innovative product addressing those needs. Anant Goel, a 3X Entrepreneur, is the co-founder and CEO of Milkbasket. Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket is fulfilling the entire grocery needs of a household every day before 7 AM. He is a firm believer that execution is the key to a startup's success. A testament to their operational excellence, Milkbasket has fulfilled in excess of 5 million orders with a 99.3 percent fulfillment rate. The industry average for other Indian ecommerce players is estimated to be 87–89 percent. Back in August 2016, the grocery delivery space had macro-level headwinds when major grocery and hyperlocal delivery players had just gone out of business. A lot of our peers didn’t want to invest in Milkbasket, not because of their performance, but because the sector wasn’t attractive anymore. During this testing period, Milkbasket’s customers not only continued to do business with them but also pitched in with funding to save the business, when they were running out of money.

Anant Goil says- 

We want to get to a point where the customer really doesn’t have to buy from us. We want to take the burden of remembering and ordering repeat purchase items like grocery, off the list. Traditionally, hardly anyone sees their newspaper delivery man actually deliver the newspaper. That is because you don’t need to check the quality of the newspaper and you trust him to deliver it on time. This is exactly the insight on which we built our contactless delivery model, where deliveries happen between 5–7 am, which improves a customer’s experience significantly. We, in the process, save on a lot of costs that come with traditional ‘attended’ last-mile delivery where the customer physically verifies the order. This has further to be backed up with consistency and quality, something which we take very seriously.At a business level, customers with recurring orders, order 2X more than other users, as they order over and above the pre-set orders. About 70–75 percent of our users have at least one recurring order set on the platform. In today’s time-crunched world, where everyone wants more social and family time, we want to give the customer the freedom from spending time on mundane repeat purchases. It is easy to give discounts but 30 percent off on atta is not solving a problem for the customer! A real-world validation of this is a Milkbasket power user who has automated almost all her household chores and hence has free time for other tasks. She has set 21 recurring orders on Milkbasket- ranging from a loaf of bread every two days to a Surf Excel every month.

We don’t compare ourselves to a Hypermart, we compare ourselves to your next door mom-and-pop corner grocery store. Even with 2,000 SKUs, it magically fulfills your entire household needs. While it does not pamper you, it also does not leave you disappointed when you need something. It may not have five varieties of Kellogg’s cornflakes but it would have the highest selling flavours stocked. On similar lines, we believe that essential items (like cornflakes, eggs, bread, ketchup or deodorant) should be inventory based and available so that it can be delivered in the morning. On the other hand, anything that we believe is more like a choice, a long tail of SKUs for customer delight, we do not stock as sales are low. For such products, we do local tie-ups where we can source products.

Video

https://www.youtube.com/watch?v=tDNnhfnhRCo

Revenue

Milkbasket, which already offers delivery of over 9,000 products across FMCG, dairy, fruits and vegetables categories, currently has an average revenue run rate (ARR) of about USD 50 million. "This is Milkbasket's first attended delivery service, given that all existing daily deliveries (over 75,000) are contactless

Ceo

“In 2015, Milkbasket was created as India's first micro-delivery service for today's busy households to fulfil their grocery needs by eliminating the hassles associated with traditional offline and online grocery buying," said Anant Goel, co-founder and chief executive officer, Milkbasket.