Medicostores: A One-Stop Solution Provider for Pharma Distributors

Nagendra Yenugula,<br>FounderThe market is not yet digitized in the open market; it is still in its early phases; people still use wall systems that were built 20 years ago, and there has been no upgrade in terms of the internet, so no one knows where the items are accessible. Right now, some critical medicines are available in India that can only be addressed by wholesalers or stockist that can come through, but the Medicostores app is attempting to bridge that gap between a consumer level if a customer comes in now, the retailer can search, this is the medicine they want, and they can get it immediately. So Medicostores has started applique delivery services for retailers and wholesalers, and delivery is also one element of the market that the firm is now performing.

Medicostores was founded in 2021. It is a B2B e-commerce application that connects the bridge or the linking between the stockist which is the wholesaler's market, and a retail market. This is where they look at its project in terms of a B2B e-commerce solution exclusively for the medicine domain. The Medicostores app gives a sophisticated search engine based on the markets it supplies, and it will inform him where the product is accessible. In 2018, it was difficult for the company to explain its services to
clients since they couldn't access it; however, when COVID struck, they realized that an online platform is quite useful. So, the business began with POC and then began doing extensive research in India.

Medicostores initially launched the app in November 2021, and it was very difficult for people to understand what the app was, but now the app has resolved all of their business problems, as well as all of their engineering solutions. The application's uniqueness is primarily about the availability of any product on the market with any of the distributors in the system; here is where Medicostores wants to provide them with real-time solutions as well. So, if a product is available, there are a couple of other tools on the market right now, and don't know how productive that product can be. As a result, it takes a very long time. You may place orders with many vendors through the Medicostores marketplace while also viewing different items where they are available and how many things are available. The Medicostores app can tell you how many goods are available, and how much they cost, this is the USP of the company.

The whole growth path has been quite high; initially, the firm had very few users, but now it has 500+ people utilizing it every day approximately 400 users are utilized, and purchases are placed. So each market is now putting in roughly 30-35 orders, and deliveries are being completed. The company's revenue is generated mostly through deliveries. Medicostores just established a delivery program named 250 packets, 500 packets, 750 and 1000 packets, and monthly deliveries. So, if somebody wants to take into the packets, that is where they will go into the packets and then distribute them.

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“Our company’s future plans include expanding into the B2C market as well as connecting Stockist with manufacturer side, as well as developing an ERP billing system and addressing GST difficulties or challenges that may arise in the market. So, they aim to incorporate the entire pharma sector into a single platform, beginning with the building and GST taxation, and then moving on to B2B", concludes Nagendra Yenugula, Founder at Medicostores.