In the pilot phase, 10 physical stores to be launched in Chennai under the franchise model
Ecommerce was born when traditional stores created an online presence to cater to shoppers’ demands for anytime, anywhere purchases. Now, in a interesting role reversal of sorts, pure online stores are adopting a two-way approach and are venturing into the offline space to offer their customers a well-rounded and comprehensive shopping experience. With exactly that goal in mind, Netmeds, India’s leading healthcare e-commerce portal, also popularly known as ‘India Ki Pharmacy’ is now venturing into the brick-and-mortar space. After creating a robust presence felt in the realm of “e-pharma” Netmeds is set to make inroads in the physical retail segment. The healthcare e-commerce portal plans to set up its physical stores in Chennai first and gradually expand its offline reach to other metro cities in the country.
Netmeds is poised to kick-start its offline foray with 10 physical stores under the franchise model in the pilot phase. Under the same brand name, Netmeds will open a number of conveniently located licensed pharmacies. The healthcare firm will invest around Rs15-20 lakh to set up the physical stores. The brand new stores will be located in high demand markets of Chennai, which people can easily access for safely and reliably fulfilling their healthcare needs.
Commenting on the plan, Netmeds CEO Pradeep Dadha said, “Netmeds has fast established itself as the one-stop online destination for customers to procure medicines and fulfill the entire spectrum of their healthcare needs. While our online sales have experienced immense traction, our customers have also expressed an unequivocal desire to be able to interact with their favourite pharmacy in a physical format. Many consumers are keen to attain a 360-degree, seamless medicine buying experience with a trusted brand. To cater to this consumer demand, we have decided to enter into an omni-channel model. Setting up physical stores will not only help us to enhance our engagement with customers, but will also enable us to reach out to those who do not have access to technology or lack technical expertise.”
At present, Netmeds procures from wholesale and retail shops to cater to its clientele. With its brick-and-mortar stores in the offing, Netmeds will source products through its own distribution company.