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‘Ultrafast’ Grocery Delivery Service Buyk Launches In New York City

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Buyk, a new real-time grocery service promising “ultrafast” delivery in 15 minutes or faster, opened in New York City on Sept. 14. It features no minimum spend and no delivery fee and is available in Manhattan.

The company is planning to expand across all New York City boroughs by the end of 2021. It also has plans to launch operations in 2022 in the largest metro areas across the U.S.

The new service leans on the experience of its seasoned founders, entrepreneurs Rodion Shishkov and Slava Bocharov, who previously started and ran Samokat, one of Europe’s fastest-growing ultrafast delivery services and the largest operator of dark stores among on-demand grocers outside of China, with 722 in operation as of this August, 323 of which have opened within the last five months. 

“Three things are central to the Buyk business model: hyperlocality, execution and, of course, our proprietary technology,” said Slava Bocharov, CEO and co-founder. “Tried and tested through years of our European operations, this technology is the magic through which the whole business operates. With this tech, we can assemble the ideal assortment for each area down to the finest detail, we can optimize picking strategies to ensure your order leaves the dark store almost as soon as you’ve put your smartphone down, and we can study the best routes to shave vital minutes off delivery to ensure your order arrives when you need it and not a second later.” 

The grocery market in the U.S. is valued at $1 trillion, according to research from the Institute of Grocery Distribution. As global shifts to online, accelerated by the pandemic, become a consolidated part of 21st century living, much of this market is moving online. Through its business plan, Buyk’s target addressable market is up to 40 percent of this trillion-dollar industry, taking market share from small- and medium-sized food retailers.

To fulfill its promise of real-time retail, Buyk uses dark stores, stocked with 2,000-3,000 SKUs to deliver groceries and other essentials to customers’ doors ultrafast, in 15 minutes or faster. Dark stores are strategically located to enable maximum coverage in the quickest possible time and are fitted out with Buyk’s proprietary technology to optimize the speed of order picking and delivery. The technology also provides its teams with detailed information on a hyperlocal level, to ensure each dark store is stocked according to the specific needs and desires of consumers in that particular area.

“Buyk is a new entrant to the U.S. market but one that possesses a deep experience and expertise that other players simply cannot match,” said Rodion Shishkov, chief product officer and co-founder. “From our experience building Samokat, we know how to rapidly scale our business, implement the technological solutions needed to optimize margins, and crucially, turn unit economics positive in a market where current players are witnessing significant losses.” 

Buyk’s assortment will also feature local partners, so New Yorkers can access all their favorite NYC brands at the touch of a button. The company intends to develop a private label offering, giving consumers a more affordable, but still top-quality, option, in the not-too-distant future.

The Buyk app is now available to download. For more information, visit buyk.com.

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