A groundbreaking new-age supermarket, redefining retail for small-town communities. Experience innovation, convenience, and community-centric shopping like never before. Embrace the future of small-town retail with StoreKing.
Small towns in India are often overlooked in the narrative of economic growth and development. However, these towns, with their unique characteristics and untapped potential, can be seen as a hidden gems that offer a plethora of Opportunities for various sectors. From Agriculture to technology, small town India present a goldmine waiting to be explored.
India's GDP Growth Projection:
in 2022
FY in 2027 (Est.)
Estimate Growth Rate
Forex Reserves Projection:
FY in 2027 (Est.)
Per Capita GDP:
in 2022
FY in 2027 (Est.)
National Per Capita FMCG Consumption:
in 2022
According to the Retailers Association of India (RAI), the retail industry has experienced moderate growth over the last year as consumers are getting into regular business routines, which accounts for the high base in April and May 2023.
The Indian retail market is expected to reach US$ 1.1 trillion by 2027 and US$ 2 trillion by 2032
India's per capita #FMCG spend of USD46 is extremely low compared to other emerging markets such as Indonesia, China, Thailand, and the Philippines, all of which have a per capita FMCG spend ranging between USD100 and USD440.
India expected to add ~60M upper middle & ~20M high income households by 2030
GenZs and Millennials will drive India’s retail spend
Generation-wise share of total retail expenditure 1 in India (%)
StoreKing taps into the vast potential of Small-Town India, with over 100 million households, aiming to be a catalyst for growth in this largely untapped market. These small towns, home to 70% of the population, present lucrative opportunities for retailers, as the local stores, empowered by smartphones and the internet, cater to an increasingly experimental and price-conscious consumer base.
After all, two-thirds of the country’s population live here and almost half of the national income is generated here. The small local stores have dominated over the decades and were present to address the needs. Small Town are proving to be
In the heartbeat of small-town India lies a unique buying behavior, intricately woven into community values and practical necessities. Family needs, cultural considerations, and trust in local products drive purchasing decisions. Frugality and a keen eye for value are paramount, creating a market where authenticity and familiarity reign supreme. StoreKing recognizes this intricate dance and aims to be the bridge that connects brands with these communities.
Small-town consumers are known for their frugality and a keen eye for value, often seeking durability and practicality over flashy trends. Local markets and neighbourhood stores are the primary shopping hubs, fostering a personalized and relationship-driven buying experience. Brands that understand and respect the cultural nuances of these towns resonate well, as authenticity and familiarity hold sway over flashy advertising. Additionally, there's often a strong sense of community responsibility, with residents favouring businesses that contribute positively to the local economy. Thus small- town Markets offer a sea of opportunity for the retail sector that needs to be tapped with care. So if the brands could channel their behaviour then they could really reap the rewards.
The small-town consumer purchase journey often di ers from that in urban or metropolitan areas due to distinct characteristics and dynamics. Understanding the unique aspects of small-town consumer behavior can help businesses tailor their marketing strategies e ectively. Here's an overview of the typical small-town consumer purchase journey.
Being exposed to media, small-town consumers aspire to consume branded products and services & evolve their preferences & buying behaviors.
Today’s rural Indian consumers have higher aspirations, are more strongly networked physically and digitally, and are discerning.
Brand Savvy
Willing to invest in branded products to ensure quality
Trading up
Want more features, better design to boost social image
Exploring
Adopting new categories, using alternative channels
Connected
Increased online & offline interaction with urban counterparts
Proactive
Seek information through multiple sources
Empowered
Active role of women in decision making
Street-Smart
More aware, not prone to fraudulent schemes
Value seeking
Evaluate total value of investment, not just price
Social
Information sharing with strong peer effect
| EOV | Attributes | 0% 80% |
|---|---|---|
|
Social Impact
|
Care About Environment
Love Community Activities
|
|
|
Life Changing
|
Meaning & Purpose are more important than money
want to live life on Own terms
Crave Connections with others
Believe in work hard and Pay hard
Feel more Empowered than before
Wonder what is there identity
|
|
|
Emotional
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Wonder about mental well being
Live for today
|
|
|
Functional
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Commitment Phobia
Convenience has changed their life
|
|
| Drivers of Awareness | Relevance by archetype | Social -led Commerce* | Implications |
|---|---|---|---|
| Advertisements on Facebook, Instagram and other social media platforms |
20%
50%
80%
|
E-retail ads in India are growing at a fast pace | Tomorrow's consumers exhibit similar behavior in brand discovery |
| Social Media Influences |
|
Social networks are increasingly building end -to -end checkout experiences natively. | Social media platforms platforms —ads, influencers & word-of - mouth are key drivers of building awareness |
| Friends and relatives |
|
||
| Surffing the web |
|
Hassle-free transition to next step in purchase journey | |
| Favorite celebrities & the brands they wear or endorse |
|
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| Category search on Google e.g., “buy dinner plates online” |
|
Demographic and Infrastructure challenges that make a current channel to serve small-town India.
Today we are going to discuss India's 4th largest sector- The FMCG Sector. According to various estimates, the FMCG generated revenue of around USD 103.7 Bn in 2020.
China’s per capita consumption of consumer goods is still four times higher than India’s.
So Small town demand should grows faster.
The Indian retail sector is highly fragmented with 97% of its business being run by unorganized retailers like traditional family-run stores and corner stores. Organized retail however is at a very nascent stage
The organized retail market in India has a 12% share of the total retail market and has a growth rate of 10% over 2021-32.
The Small-Town market is a goldmine waiting to be tapped, with consumption growing at a remarkable 14% CAGR. StoreKing stands at the forefront, armed with a per capita income of 60,000, a new shopper base of over 60%, and 700+ million active internet users. The FMCG sector is flourishing, and the rising aspirations of small-town consumers are a testament to the changing landscape.
Started in 2012, StoreKing was launched with the aim to be the digital touch point for small-town India. StoreKing focuses on connecting brands & service providers with consumers empowering small-town India to access technology. We are StoreKing, a technology-enabled platform that connects the dots to transform the small-town Indian retail ecosystem by connecting both Retailers and consumers.
We bridge the gap between underserved rural consumers and create access for Consumer companies, opening the doors to small-town cities' aspirational consumers and connecting the remotest villages. What acts as a lynchpin in this process is our partners, the small-town Kirana store owners.
Our New Age Supermarkets are the fastest-growing grocery retail chains in India. It offers a one-stop shopping experience by providing food & beverages, staples, dairy products, home and personal care products, and general merchandise, making it a complete shopping destination. Our Supermarkets’ incredible value proposition rewards shoppers more for bigger purchases, every single time they shop, with 100% assortment being offered below MRP all year round. All this while delivering superior quality products, the best of the brands, the latest launches, and a world-class shopping experience.
We operate our Supermarkets in 2 ways.
StoreKing is here to revolutionize organized retail and gain a strong foothold in India’s Small-town Market with a robust ecosystem. StoreKing is building a technology-powered new-age supermarket and creating a revolution in the way small-town Indian consumers do their shopping.
Technology Edge Support and Training Beauty & Wellness Access to Brands Destination categories & designed to attract & engage customers who are interested in a specific type of product or shopping experience
A wide range of ice creams & juices will be available at the store to cater all types of customers.
All kinds of beauty and wellness products will be available at the stores to cater youth customers
A wide range of snacks & packaged foods will be available at the store to cater to all types of customers.
Customers will get a rich experience of shopping at the stores as the same in metro cities.
Currently, our COCO Supermarkets are present in 2 places in Karnakata. We committed to expanding our stores all over India to 500 by FY 2025.
StoreKing integrates advanced technology solutions, from POS software to inventory management tools, providing you with efficient and streamlined operations, accurate tracking, and enhanced customer experience.
StoreKing's data analytics helps you make informed decisions about product selection, pricing, and promotions based on consumer behavior and trends, boosting customer satisfaction and revenue.
Get access to 650+ National & Regional brands.
Access 18,000+ SKUs at your fingertips.
You'll receive comprehensive training on technology usage, product knowledge, customer engagement, and operational best practices. StoreKing's support extends beyond setup, ensuring you have the tools to succeed.
We’ll help you to perform multiple activities in your store to leverage the growth.
Welcome to StoreKing, where your entrepreneurial dream meets the ever-green grocery retail industry. Leveraging on decades of experience and a commitment to sustainability & community, we offer an exciting and profitable franchise opportunity to passionate entrepreneurs, dedicated suppliers, and visionary investors.
