Info-tech

B2B e-distributor Just Buy Live sees uptick after currency ban

Meenakshi Verma Ambwani New Delhi | Updated on January 15, 2018

Sahil Sani, Chairman and CEO, Just Buy Live

Demonetisation has come as a boon for not just mobile wallets but also B2B e-distributors, such as Just Buy Live. Launched earlier this year, thestart-up’s app-based distribution system enables retailers to directly buy from brands, and currently, largely serves small retailers in Delhi and Mumbai.

Sahil Sani, Chairman and CEO, Just Buy Live, said: “We currently reach about 75,000 unorganised retailers in these two cities. Since the government announced its move on currency demonetisation, we have seen a huge jump in retailers joining our platform. Downloads for our app have tripled with 600-700 small retailers registering with us everyday.”

He said the company has seen a sudden uptick in inquiries from mid to small brands who want to sell directly to retailers. Currently, the app hosts over 5 lakh products in categories such as food, drinks, personal care, auto, mobile, tech, home, fashion, toys, sports and stationery goods.

“Earlier, 85 per cent of our transactions were through cash, which has dropped to just about 35 per cent.” Sani believes that even after the situation normalises, cash transactions might end up contributing just 50 per cent to the total transactions.

Expansion

Buoyed by the demonetisation move, Just Buy Live plans to enter new cities and hopes to expand to cities such as Ahmedabad and Chennai by this financial year end. “We have plans to enter one new major city every month,” Sani added.

“We are competing with traditional wholesale suppliers who largely do their transaction in cash.” The e-distributor said it has also seen a jump in demand for mobile point of sale (POS) machines. More retailers are opting for its credit scheme which facilitates picking up of goods and paying within a 30-day window.

However, Sani also admitted that demand from retailers has been adversely impacted as consumption has slowed down. “In the first few days, sales dropped by nearly 80 per cent. It is gradually picking up. Since we largely deal with essentials and staples, I believe consumption will not stop and things will become better by next month.”

Published on November 23, 2016

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