The tech-enabled platform, which has made buying for small retailers in the country faster and smarter, will look to expand its presence to 50 cities across India.
Incepted with the vision of plugging the glaring gap between FMCG players and India’s 8.5-million retailers, Beacon has been leveraging state-of-the-art technology to drive better efficiencies within the retail supply chain.
It utilizes machine learning algorithms to identify the precise demand from smaller retail stores, thus enabling brands to fulfill inventory requirements in real-time and optimizing stock movement.
“Our endeavor is to help brands connect swiftly and directly with retailers across the nation. The robust market traction that we’ve received so far is indicative of the relevance our solutions have in the country’s retail ecosystem. Expanding our services to more cities will allow more retailers and brands to benefit from our tech-led services,” said co-founder and director Beacon, Mayank Premi.
Beacon’s differentiated approach has been reaping rich dividends for all stakeholders. Brands are provided with a unique opportunity to rapidly increase their market reach, which was hitherto limited to 10 percent of the country’s overall retail stores.
Retailers, on the other hand, benefit from greater agility of scale and better profit margins. The news of its imminent expansion, as such, comes as exciting news for both retail stores as well as brands.
“We are now poised to take the benefits of our tech-enabled platform and demand aggregation capabilities to newer cities. With the expansion, retailers in 50 cities will be able to ensure accurate on-shelf availability of products that their customers wish to purchase and do this while enhancing margins for the last-mile retailer,” said co-founder and director Beacon, Abhinav Jain.
Adding to this Jain said that the company is targeting diversification of our operations with domainexpansion in the near future.
In order to better assist retailers , especially those from non-metro cities, Beacon also has a dedicated team of agents, comprised mostly of women professionals, to offer support on the phone. This team, in addition to recording retailer requirements, also helps them in translating the analysed data from their own outlets into implementable, actionable decisions for brands.