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StoreKing - Building Highway to Rural India

StoreKing - Building Highway to Rural India

Storeking is a digital platform for rural consumption with the rural kirana as the anchor.

Storeking is a digital platform for rural consumption with the rural kirana as the anchor.

Why is rural important ?

Imagine the brand opportunity of connecting with 850 + million highly aspirational rural consumers! Total retail spending in rural India is set to cross $3000 billion in the next five years.

Today, rural consumers form 200+ million households. While they desire to own urban products and services, they are limited by availability, accessibility and affordability.

16 %

423 Cities

14 %

4,728 Towns

70 %

6,50,000 Villages

Urban India $396B Retail Spend

Rural India $484B Retail Spend (2018)

Rural India today contributes

A large pie to India’s economy. The FMCG sector in rural and semi-urban India is estimated to cross $100 billion by 2025.

With a growing consumption demand in small towns and villages, rural consumer markets are expected to grow faster than urban consumer markets.

GDP

50 %

India's GDP

FMCG

40 %

FMCG Sales

Motorbike

50 %

Of Two Wheeler
Sales

Mobile

45 %

Mobile
Subscribers

Mobile

86 %

Rural Population

Gaps in rural India today

Despite rural market growth, popular e-commerce firms and payment companies still cater to a largely urban audience.

Even though there is market opportunity, serving the rural consumers comes with various challenges.

Insurance

25%

Insurance

Banking

42%

Bank Accounts

Kisan

65%

Kisan Credit
Cards

Digital

50%

Digital
Payment

Investment

25%

Financial Investment

Rural consumers are aspirational

Their consumption patterns are increasingly mirroring that of urban consumers. Rural consumers span across the spectrum of those who are brand conscious, experimenters and brand loyalists. A large number of rural purchases are influenced by brand image, aesthetics and functionality.

As the rural consumers and their environment evolves, these factors will be primary drivers for fueling growth in rural consumption behaviour.

1

Increasing Penetration of DTH, Content Consumption on Mobile

2

Rising Income Levels & Growing Disposable Incomes

3

Demand Replication due to nuclearization of Families

Rural Consumer

But, why are rural consumers underserved?

Every brand wants to connect to rural markets and consumers but are unable to due to the following factors:

  • Broken rural distribution channel: Large format stores do not exist in the ecosystem and brands’ access to kirana stores is limited.
  • Limited product availability: Since distribution is broken, making the latest and promoted products available to consumers becomes a challenge
  • No customized offerings: Due to lack of systems, brands cannot capture consumer data like preferences and buying patterns, leading to generic offerings.

83%

Rural consumers travel to nearby cities to make bigger purchases

> 20KM

Distance travelled by customers to make bigger purchases

18%

Only few rural consumers feel they get quality goods from their local retailer

How do kirana stores bridge this gap and why does StoreKing work with them?

The friendly neighbourhood store owner is the most important touchpoint to access rural consumers. He faces no linguistic barriers, understands consumers’ needs and is familiar with their cash-first behaviour. His relationship with consumers goes beyond transactions, as he also serves as a point for social conversations.

StoreKing understands the power of a kirana owner’s reach and his consumer understanding. We work with kirana store owners and tap into their market potential.

  • Owns physical real estate
  • Is the primary source of purchase for about 120-150 households
  • Enjoys 300K transactions per month
  • Enjoys an established social and commercial relationship with consumers
  • Has deep knowledge of consumers’ preferences
  • Has a bank account and access to digital payments
  • Is a point-of-sale for transactions and drop shipment

Rural India - Retail Ecosystem design

Approach for building a sustainable Rural Retail Ecosystem.

Ecosystem

Rural retailers (kiranas) are the only way to build rural retail ecosystem

Rural consumers would continue to transact with rural kiranas and developing an ecosystem that helps consumers & retailers both is warranted

Ecosystem

StoreKing - The distribution highway to rural India

We are the only rural retail ecosystem which connects suppliers and financial institutions to rural consumers. We make previously inaccessible rural consumers connect seamlessly with brands.

How do we do it? With our technology platform, we empower 6 million+ kirana stores in rural India to become assisted touchpoints, driving transactions of walk-in consumers. Based on the below four robust pillars, we are fueling the next level of growth in rural India.

Where are we today ?

We are the biggest and the only player in the technologically-driven rural distribution network space. At StoreKing, we are redefining rural commerce, one kirana store at a time.

India Map Daily footfall Districts Pincode States Stores Transaction Warehouse
Flexible work
1.5 Million

Daily footfall

Flexible work
50,000+

Stores (Kiranas)

Flexible work
30,000

Transactions / Day

Flexible work
4000+

Pincode

Flexible work
265

Districts

Flexible work
9+

States

Flexible work
8

Warehouses

Brands we connect to rural India

From Hadinbal to Batlawadi, we take brands to the remotest regions. Our clients range across industries - e-commerce, insurance and lending services, travel services, mobile wallets and digital services. In our journey, we have also acted as rural data and insight providers for a lot of organisations in India to help them uncover the potential of rural markets.

Quotes
Quotes

StoreKing success stories

We are not just supply partners for kirana store owners, but work with them to amplify their aspirations and income.

Kirana
Mr. Prasadh, Kolar
PlayView Video

I am a distributor of StoreKing in KGF,Kolar District. StoreKing is a digitized platform and has a mobile app which enables retailers to place orders easily. Retailers need not go to multiple points to purchase stocks to their stores they can place orders 24x7 and purchase exactly what they need. They can earn better profits with lesser investment. I am covering about 10-15 Kms radius from KGF, earlier retailers used to purchase goods from wholesalers nearby and they had to carry everything back on their own, now with the StoreKing business,they can place orders from wherever they are and get the products delivered to their doorstep. With the new concept of StoreKing called Super Franchise, we are able to deliver the products to retailers in less than 24 hours of orders being placed. This helped me doubling my business in a very short span of time.

Kirana
Mohammad Ansar
PlayView Video

I'm very happy to partner with storeking. Our storeking app is very easy to use and place an orders.On time we are receiveing our customer requesting products with our DC/ MSF.Storeking is platform where we can buy all kind of products instead of visiting multiple distributors.This Storeking helps increasing my sales activities day by day.

Kirana
Suneetha
PlayView Video

My name is Suneetha. I own mounika fancy and money transfer, store TADA. We have been running this store for the last three years,and it's doing good profits. Any issues that we or our customers face, Delar will help us to solve all the problems over the phone or sometimes in person. People from the head office do visit the store occasionally. Loans are helping us on time, We are paying back EMI weekly without fail. Before taking the loan our monthly turnover was 5 lakhs. We have developed our business after taking the Loan, now the turnover monthly has increased to 25 lakhs. It is really helping improve our business because of the loan given to us. We are doing good business in products as well, the biscuits division.
Thanks for all the good work and support from Store King.

We are a rural ecosystem and innovate every day

To add value to our rural consumers and partners, we have created strategic initiatives and programs. From unique reward systems to building the largest rural marketplace, we are constantly thinking, ‘How to get more insights and drive rural market growth?’.

WYP
What’s your price

Our relationship with kirana stores goes beyond transactions. We engage with them via gamification and contests to create a sense of belonging. This initiative helps us with data gathering from kirana store retailers across India.

Kingcoins
King Coins

Rural India’s first ever loyalty program that rewards consumers and kirana store owners to transact on and refer StoreKing. Created to offer exclusive benefits to our users and ensure they are deeply connected with the brand.

Bazaar
Bazaar

India’s largest marketplace to help rural consumers connect with buyers and sellers online. With Bazaar, kirana store owners get a new opportunity to sell their local products and services, not just in their village but across the nation.