Highlighting its domain leadership, leading B2B e-commerce platform for mom-and-pop and Kirana stores, MaxWholesale has reached a new milestone by registering 10x growth in its top line in a span of 9 months. Along with this, the brand has also maintained profitability in gross margins, cementing its position as one of the most capital-efficient and fastest-growing digital distribution platforms for kirana stores. The brand has also established a strong presence in Delhi NCR and the Chandigarh tri-city area.
Powered by proprietary technology for managing end-to-end automation of inventory management and distribution, MaxWholesale effectively manages the complexity of real-time inventory of more than 7,000 grocery SKUs in each warehouse without any operational errors. Driving customer engagement through its 6-sigma operations, the brand has witnessed a 4x increase in the kirana store wallet share since January 2020.
The brand has tracked this crucial growth trajectory based on a variety of metrics including daily active users, number of app visits, category-wise online traffic to order conversion ratio, category-wise order fulfilment ratios, number of kirana stores buying products on the platform, and the average monthly business from kiranas, amongst others.
Operational excellence with financial discipline and positive unit economics
Enjoying a healthy capital-efficiency ratio of 9.6 and an inventory turnover of 62.7, operating on algorithms that crunch reach-time data and convert it into critical automated decisions geared to drive operational and capital efficiency as well as improve customer experience. Leveraging data-based predictive analysis, the brand not only ensures optimal utilization of resources but also allows kiranas access to the most recent stock from the inventory, thereby increasing the shelf life of goods for its partner stores.
Commenting on the platform’s remarkable growth, Samarth Agrawal, CEO, and Co-Founder of MaxWholesale said, “We are absolutely delighted to announce that MaxWholesale has seen outstanding growth over the past 9 months. Kudos to our teams who have immensely contributed by working relentlessly, leaving no room for errors. We have always been committed to ensuring the utmost operational efficiency, accuracy, and financial discipline. This has helped us build a highly reliable replenishment of pipe products and services to our partner kirana stores. We look forward to continuing this progress and plan to expand our array of services in the coming months.
Fuelling growth with data insights
Furthermore, MaxWholesale observed that more than 30 percent of the orders on its app are placed at night when no other alternative supply channel is available for kirana stores. Another crucial outcome contributing to the brand’s success is its 100 percent accurate invoicing with no mismatch in product delivery, enabling the company to ensure 100 percent payment on delivery with zero receivables and a negative working capital business.
MaxWholesale has also built a proprietary ‘digital handshake-based’ workflow model which offers increased accuracy and accountability throughout the value chain. The technology generates an abundance of data for FMCG brands that can be used for trend analysis and digital marketing. The real-time consumption pattern insights generated by kirana stores can then be leveraged for product recommendations, smarter management of inventory, optimize pricing, and improve sales.