MyGroser Expects Faster Growth in Online Grocery Business; Opens Investment Round for Expansion across Southeast Asia
- Service has clear path to profitability on the back of demonstrated technology stack, end to end supply chain management, owned delivery assets, and fast growing consumer base
- Diverse management team bring balance of gender, experience and enthusiasm to revitalise a traditional business for the digital age
- Availability of service through Malaysia's Covid-19 response demonstrates ability to maintain safety, hygiene, and convenience while delivering daily
KUALA LUMPUR, Malaysia, May 12, 2020 /PRNewswire/ -- Leading independent online grocery service, MYGROSER (www.mygroser.com), today announced enhanced its delivery capabilities to further support consumers and businesses in Malaysia as the country grapples with its pandemic response. MyGroser offers fresh food, fresh produce, baked goods, essential items, and grocery delivery services in Malaysia's USD20 billion grocery and supermarket space. It has stayed available throughout the country's Movement Control Order (MCO) period, delivering daily grocery orders to thousands of consumers while under a national movement restriction.
"We have seen the demand for grocery delivery locally grow by over 1000% during the first part of this year, and have seen our own revenues and number of deliveries made daily grow ten times during just the past 2 months. On the back of this, we are accelerating our expansion plans to better meet the demand for convenient, fresh and affordable produce, everyday essentials and groceries that we are seeing from our consumer and business customers," said Stephen P Francis, CEO, MyGroser.
To support this growth, MyGroser is raising its first public funding round in support of its aim to be profitable within 12 months with expansion to other cities in Malaysia soon after. This round, which is being run as a rolling close, is being targeted towards supporting the incoming customer demand that has already been secured through strategic partnerships for the next 24 months. The service is led by a diverse set of management and founders who have helped the world's biggest brands in e-commerce, entertainment, logistics, e-hailing, and finance build their presence, market and profitability in Malaysia and across the region.
MyGroser, which launched in September 2019, has seen exponential growth on the back of consumer demand for a grocery brand that focuses on convenience, freshness and value. Working through the MCO, MyGroser has been able to deploy technology enhancements, as well as daily delivery slot increases through the effective use of a flexible, owned technology and cloud store powered premium grocery service model.
In addition to being available for service and increasing delivery slots for daily deliveries, MyGroser has been gearing itself for growth across key cities in the country. This has been done through the strategic use of the service's owned fleet of delivery vehicles and partners; full time trained picking, packing and delivery teams; cloud stores that keep a fast moving inventory selection on hand; and MyGroser's owned technology stack that has allowed it to weather and adapt to the current rapid growth it is experiencing.
Machine learning based supply chain management, new product offerings, an enhanced grocery list and new membership offerings are next on the service's list of upcoming enhancements.
These plans are part of MyGroser's three year plans to reach regional coverage as the service reimagines the modern grocery business in an on-demand, premium and affordable manner. This will allow it to better address an existing consumer demand worth over USD300 billion annually for online groceries in the region on the back of continued growth and demand for online services.
Built for profitable-purpose driven growth
MyGroser is entirely digital; available on the web, on iOS and on Android, and powered by its own technology stack. Custom built one-of-a-kind software that is fast and easy to use with secured payments systems underpin a customer-first system that has seen consumers embrace online grocery shopping quickly in Malaysia.
Integrated into MyGroser is its own inventory, warehousing, customer management and routing solutions that allow the service to self manage its offerings. This has been key in helping it remain available through the pandemic period and will be critical as the brand grows.
MyGroser owns its entire supply chain - cloud stores with supermarket sized operations that are run by a team with more than sixty (60) years of combined experience in the grocery industry. Buying directly from thousands of brands, suppliers, manufacturers and producers locally and regionally, the service already lists a variety of over 12,000 products at competitive pricing targeted for everyday value.
Deliveries are done with dedicated full time delivery teams focused on handling groceries. This means delivery services are more secure and safe for consumers, and food handlers are trained to do things at a higher level of safety and cleanliness. Packaging is eco-sensitive including the use of reusable bags and boxes for deliveries.
MyGroser is Malaysia's only independent, full service technology powered online grocery of its kind that offers consumers and businesses delivery services and access to a growing range of 12,000 items in fresh produce (meats, seafood, vegetables), fruit and dairy, frozen food, dry food, groceries, premium products and daily essentials catalogues. Operating its own dedicated handling and delivery teams, MyGroser works directly with the best brands in the world that you're already familiar with from your corner supermarket; and local growers; to bring products you love to you conveniently through its secured online web experience. Our cutting edge technology allows you to schedule your grocery deliveries weeks in advance and to enjoy free delivery for orders that qualify. For more information, please visit www.mygroser.com.
Related Links :