Vision and mission
Vision statement – Not to establish as a brand but yes to build a quick, reliable service for every consumer being the best means of providing quality, service, trust, and Value and most of making every consumer smile while maintaining our uncompromising, principles as we grow.
Mission – To Deliver the best
Online shopping sales across India amounted to around 67 billion U.S. dollars in 2021. The e-commerce market is likely to grow to over 145 billion U.S. dollars by 2025. The e-commerce market in India is the fastest-growing market in the world.
Online retail segments
In the fiscal year 2017, the retail market was led by electronics with a penetration rate of about 20 percent. However, in terms of groceries, local offline vendors or kiranas continued to be the preferred choice for daily groceries due to the ease of bargaining and benefitting from the ‘old-customer’ designation with extra rations as a gesture from the vendor. Nevertheless, the number of online shoppers in the country was estimated to increase to over 220 million in 2025, up from around 80 million in 2017.
Impact of COVID-19 on the market
The coronavirus outbreak in March 2020 caused a surge in prices across e-commerce platforms. Panic purchasing resulted in the shortage of sanitary and food items online as well as in physical stores across the country. As online consumption continued to increase, unscrupulous sellers jacked up the prices of certain items. Amazon and Flipkart, the two e-commerce market leaders in India urged sellers and even blocked certain products to exercise responsible pricing. Manufacturers increased production in order to keep up with the supply of fast-moving items. With the uncertainty surrounding the impact of COVID-19, manufacturers and retailers will presumably have to work in unison to keep track of an unprecedented demand and supply scenario.
The market has gained immense traction over the past months on account of the changing lifestyle of consumers, growing urbanization, and the tech-savvy generation who prefers buying products online.
With the growth in disposable incomes and busier lifestyles, people are increasingly seeking out customizable and convenient online platforms for grocery shopping instead of walking down to neighborhood vendors. The preference for online delivery of grocery products became more visible during the COVID-19 outbreak. The increasing popularity and rise in e-commerce platforms are notably driving the online grocery market growth in India.
The online grocery market share in India should rise by USD 4.74 billion from 2022 to 2026 at a CAGR of 20.52%.
edobo is coming up with hybrid 24×7 autonomous click-on-go stores in every 8km of radius for online as well offline customers.
The idea and starting up
Ravi stems from an infrastructure family business and entered into multinational corporations by establishing a call centre for global and local banks and developing the family business. He has all of the ingredients required to construct and scale ventures. However, he personally felt drawn to the technology space. Labeling the power of the internet and the accessibility provided by smartphones as a boon for businesses everywhere, Ravi was keen to take advantage of the opportunities provided by modern technology “In the last decade, the use of smartphones has skyrocketed, and people are relying increasingly on mobile-friendly apps to meet their needs. It is the perfect medium for revolutionary service delivery.
This inspired me to get into eCommerce by establishing edobo,” shares the founder. He shares, “We provide a one-stop solution to all the daily needs of customers by offering an integrated portfolio of groceries, home essentials, pet care products, hygiene supplies, as well as general & generic medicines in a single mobile app.
“edobo is thoughtfully designed to adapt to new challenges, be it lockdowns or remote work. Customers can now do grocery, daily essentials, and pharmacy from home as easily as they work from home. Unlike other
eCommerce providers, edobo ensures that our products remain 99.9 per cent bacteria-free & UV Sanitized.
This extends the shelf life of the products and promises safety for our customers,” Ravi mentions there are multiple delivery slots in a day and each slot lasts for three hours, allowing customers to choose the slot, which is most convenient for them. Customers can also opt for 30-minute express doorstep delivery.
To maximize efficiency and ensure customer satisfaction, the startup claims to offer over 3,500 products priced lower than their counterparts sold in supermarkets and local grocery stores. It plans to include over 17,000 products in various categories soon. Ravi shares that edobo is committed to empowering small and medium businesses (SMBs) in the neighborhoods.
About the Founder
Founder & CEO – Ravi Jadhwani.
Seasoned with a track record of employment in the Infrastructure sector. Creating Landmarks with Construction, Management, Civil Engineering, and Strong Entrepreneurial skills.
I believe in the vision of becoming a business leader who leads with passion and determination. Entrepreneurship runs through my veins. My family has owned and operated a thriving infrastructure business for almost four decades. But I have always felt a pull toward modern technology. I began my quest by establishing a small outbound call center called “Xzines Diligent”, which was later acquired by one of the biggest names in the service industry.
But inspiration is omnipresent, and I found it. Who doesn’t like shopping, but to go out to a store for a handful of things is very cliche. And that’s when it happened; the spark I was missing ignited the instant Covid-19 lockdowns hit daily supplies the hardest. I want to bring something new to the table to ease the misery where there are numerous startups in every sector. edobo is an all-in-one website and mobile app fulfilling the daily needs of consumers along with safety and timely delivery. With edobo, I hope to create not just a solution but also a fast, dependable service that makes customers happy and upholds the unwavering fundamentals of the brand event as it expand.
I am diversifying e-commerce into many segments, listing around 3000+ products from household essentials to health & hygiene and electronics to pet care. Also assisting small D2C brands from around India with their listing, storage & logistics & all other marketing needs on a single platform.
I am passionate about new emerging technologies, startups, and climate change, so reach out if you want to talk to me; Let’s Get Connected.
How did you come up with the name, tagline, and logo for your Company.
Ravi personally felt drawn to the technology space. Labelling the power of the internet and the accessibility provided by smartphones as a boon for businesses everywhere, Ravi was keen to take advantage of the opportunities provided by modern technology.
The name edobo means edible
Inception date – 2019, Operations started – October 2020
Business Model and revenue model
Revenue Model – Selling groceries, home essentials, daily needs & pharmacy from our app/website also generating revenues from our click-on-go stores.
We have scaled in the last year from just 5lac a month to 40L a month on B2C/B2B
Currently, we have more than 23,000+ registered users
Getting the first 100 customers for your company is bliss! Launching Company
The pioneering business leader had founded the now successful start-up from scratch. Despite the road not being easy, it was Ravi Jadhwani’s dedication, passion and vision that helped his company and the team sail through all odds. Today, edobo manages to stand out of the crowd due to one significant edge – they not only home deliver all essentials within hours but also ensure that all their products maintain high standards of safety and hygiene from the get-go, in line with their motto “Sanitized – Sealed – Delivered”! Each item in their inventory is handpicked for the highest quality and carefully UV-sanitized to ensure maximum safety in those unpredictable pandemic times. And yet, the products at edobo are both pocket-friendly and diverse.
Since launch, what has worked to attract and retain customers/clients
Since the start, if you ask for our pocket-friendly products, one-click login & simple ordering app running digital marketing campaigns etc.
Most challenging part and how did you overcome it
Digital Illiteracy and Consumer Psyche:
We are making customers understand the benefits of Ordering online and getting maximum benefits through our communication channels. We recently did BTL activation during Navratri across all prominent pandals in Mumbai.
How is the company doing today and what does the future look like
Currently, we have more the 23,000+ registered users, 50k Download and a Retention rate of 62%
As for the remaining quarters of 2022, we will be focusing on Omni channel marketing tactics where we will be spending more on digital platforms to target our core audience. We will be starting with Offline marketing soon which will focus more on BTL activities. Our Primary objective will be to touch on all the key points of the customer journey starting from acquisition and focusing more on retention by giving regular offers.
We are planning to expand our portfolio to 17,000+ products across several categories very soon, and also aiming to get into the luxury goods sector.
edobo is also coming up with its click-on-go 24×7 stores in Tier I, Tier II & Tier III cities, these stores are uniquely designed for the social shopping experience, stores will be located at every 6km to 8km of radius for online as well offline customers.