New from StartUpPakistani
Krave Mart entered the private label market a few weeks ago, meeting customer demand for quality products at affordable prices.
Krave Mart began operations with over 16 categories, over 3,000 products and was home to hundreds of brands. Customer-based product mix ensured a mixture of food and non-food required for daily life. This is where Cravemart stepped into its private label initiative.
Starting with basics such as daily seasonings and utensils including eggs and sugar, Krave Mart has successfully launched over 100 private brand products with the goal of providing customers with the highest quality products. did. full of love
Our current private label products are:
Kdaily (spices, eggs, lentils, high quality flour, dried fruit).
Kfresh (fruits and vegetables, exotic F&V range).
Other products in the pipeline.
In fact, Krave Mart could even double his profit margins in these categories. This has proven to be a key factor in Krave Mart’s achievement of sustainability and profitability in the current situation.
“Today, there are over 100 private label SKUs on the platform and growing. Backwards integration has significantly improved availability rates, maintained quality control, doubled margins, and We have been able to drive growth.” Ahsan Kidwai (Co-Founder and Chief Commercial Officer)
Krave Mart is by far the fastest e-commerce/online platform in the region, launching a wide range of private label products. This allowed us to address sporadic inventory shortages that are common with certain grocery brands.
As Kidwai stated:
“Venturing into the private label landscape was a strategic move, in an attempt to offer our customers the finest quality, phenomenal value, with convenience at their doorsteps!”
What is Private Labeling:
Private labeling involves championing procurement, sorting and packaging in-house and thereby selling it under an owned custom-made brand label.
Private Labeling comes with promising advantages which benefits organizations with:
It instills the sense of belonging in the existing consumers as they feel part of the few that have access to the limited edition products; thereby increasing loyalty and sales volume.
Private labeling definitely yields higher margins as there are no branding and packaging premiums attached to the products being sourced directly.
Private labeling gives complete liberty to promise exclusivity to customers in terms of branding, good marketing and creating its demand that in terms gives an edge over branded retail products..
Krave Mart believes in customer centricity and delivering the right product mix, as a result of which all their stakeholders share the same objectives towards sustainability and quality production. Private labels are the future of consumer products, and brands (who own private labels) already have access to consumer patterns, insights, and preferences, and may even become industry leaders.