Dear reader,
The 'digitizing corner stores' model is ubiquitous across emerging markets. The Realistic Optimist has covered similar startups in Morocco, Senegal...
The difficulty lies in monetizing the model, in light of its high operational costs and low margins. The primary business (enabling corner stores owners to order their inventory from the app) is sometimes pitched as a Trojan Horse to expand into more services (namely, credit).
The corner store is a special ICP indeed: the startup can serve it (via software, credit, etc) but it can also serve the corner store's clients. Corner stores owners have often established relationships of trust with their community, which startups can piggy-back on.
GrowSari raised over $70M+ to run the 'digitizing corner stores' play in the Philippines. In this exclusive interview with GrowSari co-founder Shiv Choudhury we cover:
- How Shiv's prior experience in the retail space informed how he designed GrowSari.
- How he thinks of the "low margin" criticism leveled at companies such as his.
- GrowSari's fintech product roadmap.
- How GrowSari differentiates itself from other similar startups in the space.
... and much more.
Paid subscribers can read the full interview below.
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