- Program to extend WayCool’s supply chain, tech, market intelligence prowess to retailers.
- First phase turned 500 retailers into Magic Points; to reach 2000+ by March 2022
Chennai, 23rd December 2021: WayCool Foods, India’s fastest growing agri-commerce company, announced the launch of “Magic Points”. The program is aimed to transform neighbourhood retailers (kiranas) in Southern India into Magic Points - new age retailers stocking the best of products, and backed by Waycool's tech enabled direct supply chains.
Mr. BP Ravindran, Chief Business Officer (Consumer Products), WayCool Foods, said, “Retailers play a vital role in the food supply chain. Magic Points is a comprehensive program aimed to empower small and medium retailers with the widest range clean, hygienically packed food products, world class fill rates, market intelligence, tech and fintech services. We have piloted in 500 stores and have received tremendous response from these food entrepreneurs in 5 clusters. We will have 2000+ by March 2022, and further scale up to 100 clusters across South India”
Elaborating on how ‘Magic Points’ will transform Kirana’s , he added “ When retailers convert their store to ‘Magic Points’ they will be able to leverage WayCool's deep supply chain capabilities to stock themselves up and buy what they need. They will be empowered with WayCool's product recommendation engines and will also have access to our credit solutions. Magic Point retailers will eventually have access to all of Waycool's premium branded products sourced through our direct, transparent supply chain, and covering over 2000 SKUS across all major food categories. This will give them a competitive advantage over all kinds of players that are now emerging. Currently, these Magic Points sell our ‘Madhuram’ rice varieties, wherein we offer every kind of rice from across the country, and can literally tailor the product mix at the PINCODE level, to suit the palates of the local audience. We will also extend our cooking ingredients brand ‘Kitchenji’, and shall continue to add to the basket.”
Mr Karthik Jayaraman, Co-Founder, WayCool Foods said ‘Magic Points' are our way to empower and back thousands of food entrepreneurs who have been doing 10 minute deliveries for 10s of decades without the benefit of hyperfunding - our very own kirana stores and Annachi kadais. By transforming their stores into Magic points, we intend to stand shoulder to shoulder with them, empowering them with not just our products, but also our technology offerings, as well as our fintech solutions. I firmly believe that with our comprehensive tech stack from soil to sale, and their deep connect with their consumers, we will build a winning combination that will define the future of retail, as against "transplanted" and often incongruous global models."
WayCool operates a highly efficient food supply chain with nex-gen tech. With advanced AI, deep learning, it has developed strong capabilities in predictive demand forecasting, sophisticated inventory management and planning, optimized delivery routes as well as automated and highly productive warehousing. Given the availability of high-quality produce in the country coupled with WayCool’s expertise, consumers will be assured the highest quality, and hygienic products for their consumption.
About WayCool -
WayCool Foods is India’s largest and fastest-growing agri-commerce company. Focusing on food development and distribution, the company leverages innovative technology to scale and operate a complex supply chain from soil to sale. Through its farmer engagement program - Outgrow, WayCool works with 85000+ farmers. WayCool operates a full stack, broadline product range across multiple channels and categories such as fresh produce, staples, and dairy, serving over 100,000 clients in the general trade, modern trade, and food services space. WayCool's consumer brands basket consists of Madhuram, Kitchenji, L'exotique, and Freshey’s, to name a few.
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