- Università: SDA Bocconi Asia Center
- Docenti:
Sandro Castaldo
- Studenti:
Alan Joshi, Anunita Pandita, Bhavya Bhatiya, Gourav Parija, Harshal Sutriya, Soumya Shankar
Greenobility Mart is a supermarket of multi-brand green, organic and eco-friendly products. We are a one-stop solution for people wanting to lead or shift to a healthy lifestyle and care deeply about the environment. We offer products ranging from fruits, vegetables, dairy products and meat to home décor, personal care, kitchenware and Ayurvedic products!
Greenobility Mart isn’t just a store, it’s a movement intended to encourage society towards a greener and healthier lifestyle.
Market & Industry
About 707 million metric tons of plastic in a year and about 25,940 tons of plastic waste is generated in India in a day! A portion of this comes from the unsustainable packaging materials used for our day-to-day products- fruits, vegetables, pulses, toothbrushes and many more. About 88% of respondents from a survey said the absence of affordable, eco-friendly alternatives in the market is why they find it difficult to switch to sustainable options. And 88% of people say that if more viable alternatives were available, they wouldn’t hesitate to switch to greener options.
The Indian organic food market reached a value of US$ 731 Million in 2019. It is catalysed by the strong support of the Indian government promoting organic farming by providing financial support to farmers. This combined with the massive growth of the Indian Retail Sector, which is set to cross the US$1.75 Trillion mark by 2026 and ranked No. 2 in Global Retail Development Index (GRDI) in 2019, makes green/organic retail a lucrative market to tap into.
Position & Target
We are a store that promotes a clean, green and healthy means of living through our offerings. Greenobility Mart caters to anyone who wants to switch to organic and eco-friendly products and doesn’t mind paying a premium for a good cause.
Our Target Group comprises of individuals between the age of 21 and 60, living in Tier 1 and Tier 2 Indian cities belonging to middle-class, upper-middle-class and upper-class income groups. These individuals are health and environment-conscious, nature-lovers, often minimalists, who want to make a positive difference to the planet through their actions.
The store
Our initial physical stores will be set-up in Delhi, Mumbai and Bangalore- cities with high affinity to our Target Group of customers: those looking to switch to a healthier lifestyle, environmentally conscious people wanting to include organic and eco-friendly products into their everyday lives! These cities ensure sustained demand, the right exposure and means to reach economies of scale. We later plan to expand to other Tier 1 and Tier 2 cities, too. The stores will be divided into categories such as Kitchenware, Fruits etc. along with Digital Shelves to enhance the customer journey. To elevate the experience further, we will also have the pick-up & go option- no more waiting in line, checkouts and queues!
We will also parallelly have our online marketplace catering to the needs of our customers PAN India via our website and mobile application (available on Android and iOS). Customers will be able to see their shopping history for both online and offline shopping, too.
Communication
We will leverage both traditional and digital marketing to generate awareness for our store. Through Digital, we plan to reach the younger segment from our Target Group via relatable and resonating social media campaigns on our Facebook, Instagram, & Twitter pages. We will also utilise our YouTube channel as a platform to develop & engage with our audiences through videos and webinars on high demand and popular/trending topics- benefits of using organic products, how to switch to a healthier lifestyle and many more! Pay per click ads across platforms targeted towards clearly defined audiences would also be employed aiding in customer acquisition. We would also collaborate with relevant micro-influencers and conduct contests/giveaways to generate buzz and reach new potential customers, too. In Traditional marketing, we will use News-paper ads for the launch to reach all demographics. This will help generate awareness about the brand and our value proposition. Along with that, we would offer a loyalty programme and discounts to our customers and to those who they refer our products to! A consultation on our product portfolio will also be available to customers to get better acquainted with the brand.
Products & Services
Greenobility Mart is a one-stop-shop for everything green, organic and eco-friendly. Everything that we offer would support local businesses, be ethically sourced and of course, be eco-friendly! We will offer everything from fruits, vegetables, grains, pulses, dairy products, meat, beauty & personal care, and Ayurvedic products to name a few. Our customers will also find home & kitchenware, décor, stationery, reusables and utilities in our stores too!
We also offer consultation to make customer familiar with our product offerings. We also have an in-house recycling centre where customers can bring in plastic containers, old clothes and used paper and receive discounts in exchange!
Financial
We will be selling a wide range of organic products, strategically ranging from low to high pricing. Average revenue collected in the first year of the launch will be INR 73 crore which will gradually grow over the next three years. Our gross profit margin is expected to be 15%, since we are just launching, and this is expected to increase once we set ourselves across geographies and start producing private label products. Our expenses include Marketing (Outdoor, Digital, Print, etc.), Business Development & Operations, Selling General & Administrative, App Development & Processing (Fixed Cost), Salaries and Wages, Store Designing and Layout, and Permits and Licenses. Almost 50% of the total costs comprise of Business Development & Operations. According to our projections, we will incur a loss in the first year, achieve break-even in the second, and turn profitable thereon.
