Marico integrates Saffola Store with Open Network for Digital Commerce

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Marico, a prominent fast-moving consumer goods (FMCG) company in India, has announced the integration of its Saffola Store with the Open Network for Digital Commerce (ONDC), providing a significant boost to the platform.

Marico, known for its renowned brands such as Parachute, Saffola, Parachute Advansed, Nihar Naturals, and Mediker, aims to deliver unparalleled benefits to its stakeholders, including distributors, retailers, suppliers, and consumers through this integration.

Sanjay Mishra, COO India Business and CEO New Business at Marico, highlighted the slow progress of online FMCG retail in rural and semi-urban markets despite the exponential growth of the e-commerce market in India over the past decade. Mishra emphasized that tech-led interventions like ONDC play a crucial role in bringing together various stakeholders within the FMCG and retail value chain to address this challenge.

The integration of Saffola Store with ONDC opens up opportunities for collaboration with stakeholders to leverage technology in unlocking and maximizing value and impact, according to Mishra.

The FMCG sector in India has undergone significant transformation in recent years, driven by changing consumer behavior, urbanization, and rising disposable incomes. The increasing adoption of online sales across the country has created new growth prospects for FMCG players. A report suggests that the contribution of e-commerce to total FMCG sales is projected to reach 11% by 2030. Marico itself experienced double-digit growth in modern trade and e-commerce in Q4 FY23.

ONDC, a private non-profit company supported by the Department for Promotion of Industry and Internal Trade (DPIIT), aims to enhance e-commerce penetration in the country and democratize the space. Currently, ONDC offers services in grocery, food, fashion, electronics, and mobility segments. The platform’s daily transaction volume has seen remarkable growth, increasing from 50 orders in January this year to 25,000 orders in May.

The integration of the Saffola Store with ONDC signifies a step forward for the network in the grocery services sector. While ONDC had previously faced criticism regarding price differences compared to food delivery giants like Swiggy and Zomato, the platform continues to evolve and expand its offerings to meet the diverse needs of consumers and businesses in the digital commerce landscape.

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Marico integrates Saffola Store with Open Network for Digital Commerce

Marico, a prominent fast-moving consumer goods (FMCG) company in India, has announced the integration of its Saffola Store with the Open Network for Digital Commerce (ONDC), providing a significant boost to the platform.

Marico, known for its renowned brands such as Parachute, Saffola, Parachute Advansed, Nihar Naturals, and Mediker, aims to deliver unparalleled benefits to its stakeholders, including distributors, retailers, suppliers, and consumers through this integration.

Sanjay Mishra, COO India Business and CEO New Business at Marico, highlighted the slow progress of online FMCG retail in rural and semi-urban markets despite the exponential growth of the e-commerce market in India over the past decade. Mishra emphasized that tech-led interventions like ONDC play a crucial role in bringing together various stakeholders within the FMCG and retail value chain to address this challenge.

The integration of Saffola Store with ONDC opens up opportunities for collaboration with stakeholders to leverage technology in unlocking and maximizing value and impact, according to Mishra.

The FMCG sector in India has undergone significant transformation in recent years, driven by changing consumer behavior, urbanization, and rising disposable incomes. The increasing adoption of online sales across the country has created new growth prospects for FMCG players. A report suggests that the contribution of e-commerce to total FMCG sales is projected to reach 11% by 2030. Marico itself experienced double-digit growth in modern trade and e-commerce in Q4 FY23.

ONDC, a private non-profit company supported by the Department for Promotion of Industry and Internal Trade (DPIIT), aims to enhance e-commerce penetration in the country and democratize the space. Currently, ONDC offers services in grocery, food, fashion, electronics, and mobility segments. The platform’s daily transaction volume has seen remarkable growth, increasing from 50 orders in January this year to 25,000 orders in May.

The integration of the Saffola Store with ONDC signifies a step forward for the network in the grocery services sector. While ONDC had previously faced criticism regarding price differences compared to food delivery giants like Swiggy and Zomato, the platform continues to evolve and expand its offerings to meet the diverse needs of consumers and businesses in the digital commerce landscape.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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