Future Group of Kishore Biyani will introduce a Big Bazaar monthly discount scheme on the first to eighth of every month at the Big Bazaar supermarket chain. This is the most aggressive move that the retailer has taken to compete with the online retailers such as Flipkart and Amazon that entered the grocery retailing segment.
On Friday, he announced that the customer-reward system to all the employees via Google Hangout. It was called as the next wave of growth for around 270 Big Bazaar outlets as it will help acquire new customers, increase the frequency of shopping and prevent them from shopping online.
Future Group stated that this program will start next month and it will ensure a higher footfall all over the month instead of just the weekends of the first few days.
Sadashiv Nayak, Big Bazaar’s CEO, stated that they wanted to take an effort to get new customers and reward the already existing ones. This move will influence shoppers to keep an eye on new options across the categories rather than just groceries and food.
Biyani pioneered the concept of supermarket discounting in India a decade back. It mostly revolves around the public holidays. This new effort called Monthly Bachat Bazaar will be a solution for every month in the year.
Shoppers who purchase for Rs 2,500 will receive cash bonuses and vouchers worth Rs 2,000 ranging across segments from June this year. These vouchers can be redeemed for the rest of the month assuring there is repetitive footfall even during lean shopping periods.
This initiative of Future Group is a larger strategy to rewire the supermarket chain into a start-up kind of brand and reinvent it in a market where the online companies are challenging the businesses that operate offline.
In the country, the food and grocery retail totals for almost 50 percent of the retail basket, but the online penetration of the same is less than 1 percent. This indicates a growth potential in the segment.