BARCELONA – To counter the high inflation, in Spain at 10.5% in August, a new supermarket has been set up. The secret of this startup is that the brands sell their products directly through their website to consumers.
This ‘Cheapest supermarket in Spain’ sells quality food based on a new business model. According to CEO Borja Solé, customers can save up to €100 per month. The basic basket that the supermarket offers contains fifteen products for €15. This includes orange juice, sunflower oil, rice, tomato frito, crackers, canned tuna, lentils, chickpeas or peas. Delivery is also free.
So the secret of this startup, based in Barcelona and founded just a few months ago, is that the brands sell directly to consumers through their website. Buo’s products are available in Barcelona and some neighbouring municipalities.
Groceries now on average €830 more expensive than years ago
This is good news for consumers who live in the area and realise that they are currently paying €830 more for the same purchases in conventional stores than a year ago. This is according to the latest price report from the Spanish consumer organisation OCU.
Apart from fruit, the rest of the fresh food has risen sharply in price in just over a year, such as;
- mutton (7.5%)
- fish (7%)
- legumes and vegetables (4.4%)
- crustaceans and shellfish (3 .3%)
- poultry (2%)
- beef (1.9).
How does the cheapest supermarket in Spain work?
One of Buo’s novelties is that the supermarket has no physical branches. Daily groceries are just one click away from the consumer’s fridge or pantry at any time. Buo has 100 collection points in Barcelona. These are small neighbourhood shops or entrepreneurs that work with Buo and can thus earn some extra money and increase their visibility. The good news is that the successful start has meant that Buo is also expected to become available in Madrid in January and hopes to expand further in the country from there.
Higher discounts on group purchases
Buo also offers consumers the opportunity to make joint purchases. That gives the formula a large part of its success. This way people are eligible for big discounts. They group themselves via the app but do not need to know each other. In addition, they can simply have their groceries delivered to the collection point of their choice.
In addition, customers can find all kinds of brands via the App. From well-known A-brands to lesser-known, white brands. After customers have filled their virtual shopping cart, it takes between one and three days to have the groceries at home.