GoFrugal takes MSME retailers on smart path

The Indian retail industry is estimated to be worth over $700 bn with over 14 million retailers. Of this, the MSME segment contributes 60-90% of the market requirements.

Kumar Vembu, CEO and Founder of GoFrugal, says, “The owners of physical-only stores realise they will be obsolete in the current digital era. They are all eager to serve their customers in the channels of their choice (omnichannel) and to make it happen, they are looking for the right technology partner. To win in the highly competitive market, MSMEs need a solution that will help them run their business with least skills, minimum staff, 100% accuracy and reliability. With online-to-offline (O2O) collaborative business model retail, restaurant and distribution businesses can increase their customer acquisition by 15-20%.”

He added, “Our team is single-mindedly focused to enable traditional retail, restaurant and distribution businesses to build a smart platform that could make collaborative commerce a reality. Having successfully piloted across key customers, we are all set to scale up by minimum 100% Year on year.” Vembu said he plans to expand his customer base from the existing 30,000 to 1 lakh within two years. Kumar Rajagopalan, CEO of Retailers Association of India launched the company’s first of its kind experiential digital store using advance technologies like AI and ML for the traditional retail industry. He said, “I believe technology players like GoFrugal can help small merchants across India to strengthen and grow their business.”