The ecosystem of online pharmacy is working aggressively to take over in the medical domain. In line with this, BigChemist is strategising to build an ecosystem of managed partner pharmacies by investing in an integrated market place that has intelligent point-of-sale systems to make them fully compliant to regulation for effective inventory management, while supplementing income sources and improving profitability
Conceived on the vision to provide simple, effective solutions to people in need of medicines online in India, BigChemist.com (A3T Retails Pvt. Ltd) was founded in May 2013 by co-founders Anil Asnani and Arvind Yadav with a seed capital of US$ 1 million. The company offers largest range of medicines, healthcare and lifestyle wellness products across categories and all major brands. It is run by a team of professionals of healthcare, pharmacy benefits, technology, operations and customer management. The team comprises trained nutritionists, counsellors, pharmacists and product experts help service customers in the most professional manner.
The company partners directly with the brands and their authorised channels, to ensure strict quality control and deliver 100 per cent genuine products. It has its presence both online as a web portal www. bigchemist.com and a physical store in national capital with partner stores in NCR region.
â€œThe company eases the ordering convenience through web portal, telecall, timely notified delivery, returns and payment options, single click reorder, tamperproof packaging make us different from other players. We offer our customers an option to visit us at our physical signature store to experience and interact with the team and see for themselves how we work to service them,â€ say Asnani and Yadav
The inspiration for this idea emerged after the founders colleagues working in the US needed to care of their parents and found that it is very difficult to get services for their medicine requirements. Further, being in such developed market helped them to conceive and develop this idea to measure how the healthcare in India would develop with time. This led to the development of the portal and complemented the understanding of the Indian market.
Big Chemist till now has more than 3.6 lakh visitors visiting their website with over 16 thousand registered customers. In the last two years, the company focused on studying the healthcare space minutely. Understanding the key pain point in the supply and demand areas, how the local pharmacies operate, their scope for profit and revenue increase.
The company looks for scope in this domain as the space offers huge opportunity with current market size of over US$15 billion pharmaceutical market with double digit growth rate. They have also been focused on developing their own B2C platform and are presently working on to develop mobile application and B2B platform for supply and demand forecasting fulfillment. BigChemist experiencing 20-25 per cent growth monthly; on an average they are fulfilling around 5500 orders a month with an average value around Rs.700 each.
The company plans to spread its operations in eight locations in the coming six months. They are to have one signature store at each major city with partner pharmacy stores around it. The company aims to accomplish a target of 1000 orders per city per day with an average bill value of Rs.900 – Rs.1000.