WayCool Foods, a rapidly growing agri-commerce company in India unveiled its new programme named “Magic Points”. This programme aims to revolutionize the neighbourhood retailers (kiranas) in Southern India into Magic Points – new age retailers stocking the best of products with the backing of Waycool’s tech enabled direct supply chains.
B.P. Ravindran, Chief Business Officer (Consumer Products), WayCool Foods stated – “Retailers play a vital role in the food supply chain. Magic Points is a comprehensive programme 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.”
Further, while discussing on the transformation of Kiranas through ‘Magic Points’, 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.”
Karthik Jayaraman, Co-Founder of WayCool Foods stated – ‘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 connects with their consumers, we will build a winning combination that will define the future of retail, as against “transplanted” and often incongruous global models.”