BharatPe Co-founder and Managing Director Ashneer Grover, facing an internal enquiry along with his wife over alleged financial irregularities, has said that Indians are the world’s most spoilt customers.
Speaking at YouTuber Raj Shamani’s talk show, Grover who earlier worked with Grofers (now Blinkit) said that it is an utmost challenge to understand the unique behaviour of Indian consumers.
“Indians are the world’s ‘most spoilt’ consumers. They need everything at a cheap price, which should also be in a small size and even after that, they look out for discounts,” he said.
One of the judges at the reality show Shark Tank India, Grover said the Maximum Retail Price (MRP) is a major hurdle.
“In the US, when you move to the outskirts of a big city, you will find everything at a lower rate and the most expensive if you live in the heart of the city. In India, the concept of MRP for every product is a big hurdle as it is across the country,” said Grover.
The culture of stocking up also does not apply to the Indian consumers, which also makes it tough to run grocery business at scale.
Grover and his wife are currently facing an internal probe at BharatPe for alleged financial irregularities.
While Alvarez and Marsal, a leading management consultant and risk advisory firm, is expected to submit its report into financial irregularities at the firm during Grover’s time soon, global audit firm PwC has also been roped in auditing the functioning of the fintech platform.
Meanwhile, reports have surfaced that several BharatPe employees are looking for job change amid the controversy.