The company has partnered with UFS to bring accessible kirana stores to the parts of India that need a reliable source of groceries.
Budgett, a Food & Grocery Retail Chain Company signed to launch 1000 omnichannel retail outlets in 3 years in Uttar Pradesh with the support of UFS- a sourcing and finance curation service provider.
Digitization has been fast catapulting its way towards urban cities, and so has online grocery shopping. This leads to rural populations being left out, especially because most rural areas of the country do not have the privilege of using online services even if they’re equipped with the internet. This was gravely concerning to Mr. Yashpal Manik who wanted to fill the gap between the urban and rural retail industry. Hence, Budgett was born. Budgett is an Omnichannel Retail Chain Company that is set on being everyone’s healthy, Sasta Kirana.
Budgett is already on the mission to help serve the people. It will be serving approximately 72 districts in Uttar Pradesh, while the hyperlocal app-based stores assure 30 minutes of guaranteed delivery. The stores will be functional 7 days a week from 6 am-11 pm. The company is also trying to empower local kiranas via the B2B Model and is offering a 2% discount on all products.
The company has partnered with UFS to bring accessible kirana stores to the parts of India that need a reliable source of groceries. UFS is a source and financial aid provider bridging the digital and financial gaps for the companies and individuals.
Dr. Yashpal Malik, the CEO, and Co-founder of Budgett said, “Walk into a rural area today, and you’ll witness everyone with a smartphone accessing the internet. But the way they use the Internet is different. And necessities like groceries and everyday care are still inaccessible to them. We want to reach out to tier II and tier III cities so they could utilize these services. Hence, I came up with Budgett, especially considering the financial condition of people in rural areas.
As per capita trade activities are growing at 10% in tier2 & tier3 areas, where there are 3100+ cities and 1200+ rural hubs in these areas and only 24,000 pin codes are being serviced out of 4 lakh pin codes. Amazingly people of rural India spend 50% of their income on FMCG Products. We have planned to make our presence at these 4 lakh pin codes, and we are getting good response from our possible partners and government institutions in empowering these regions.
Budgett, an offshoot of Healthbox Ventures Pvt Ltd incepted amid pandemic in 2020 and is growing rapidly. In just 14 months, we have established modern kirana marts in 8 states, already serving and with this agreement we aim to strengthen the core regions of India, the tier II and III regions. Alongside we are eyeing for a pre series A funding to help our goal to reach 5000 omnichannel retail outlets of Budgett by 2025 PAN India.”
Source: Business World