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Prabhudas Lilladher Report
We analysed price trend of 125 products across Avenue Supermarts Ltd.'s DMart Ready, Jiomart, and Bigbasket in key consumer categories of loose grocery items, dairy, packaged food, beverages, personal care and home care.
We observed that out of 125 products that we compared DMart Ready / Jiomart / Bigbasket increased prices of 30%/32%/24% products in May 2023 versus February 2023.
Bigbasket has lowered the price gap with DMart Ready and Jiomart across most categories. We expect increase in competitive intensity in online retail led by
significantly lower price gaps of big basket with others,
rising consumer activations and advertising by DMart Ready,
increase in delivery charges/ higher cart value for free delivery by Bigbasket and
growing salience of instant delivery platforms (Blinkit, BB Now and Swiggy Instamart) with young consumers.
Renewed aggression of DMart will enable it to achieve sales of Rs 54 billion with Ebitda breakeven by FY25 and profit after tax breakeven by FY27.
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