Mobility is clearly changing the face of how things operate in the world. What was once a place for moms to buy fresh produce is now an online platform anyone can visit and purchase commodities. Yes, we’re talking about grocery stores.
Not many have yet jumped on the bandwagon and bought their groceries online, mostly because they enjoy visiting stores and handpicking goods while idly strolling the isles. But that change will happen sooner than we expect, according to Redmart co-founders, Roger Egan and Vikram Rupani.
What was once an online grocery shop targeted at expats living in Singapore, Redmart has quickly changed its merchandising strategy due to a huge uptake from locals, and wants to do more.
“The local grocery shopping market in Singapore is worth at least S$5.9 billion. Nothing much has changed in terms of the way people shop since the invention of the barcode. People are still doing all the work and that has to change,” Rupani said.
Bricks and mortar no more
With increasing rent of brick-and-mortar real estate, along with greater numbers of people shopping online, he expects a consolidation of brands and a smaller footprint of physical grocery stores. But Redmart doesn’t want to just stop at groceries (oh, the twinkle in many of you shoppers’ eyes at the mention of that. It can throw some tech into the mix maybe?).
Egan hinted that the company is looking to become biggest and best e-commerce company in Asia – and that means a possibility for it to offer more than just groceries in future.
“We want it to be a one stop online shop. We’re focused on a small set of offerings to start off with, then we’ll make incremental selections in other industries. We’re exploring other markets at the moment but we’re just getting started, we have a lot of work ahead of us,” he added.
We imagine it'll soon look like an online version of Mustafa, though it still won't replace the excitement of visiting Singapore’s largest one-stop-shop in the wee hours.