Update On :09 May 2015
Big Bazaar will go live next month with an app to combat the rapid adoption of ecommerce in India to try and beat online retailers at a price-cutting strategy that brick-and-mortar stores have been struggling to come to terms with.
"We are launching a price-match offer where if you shop from us and anybody else is selling cheaper than us at that moment, we will automatically give credits in your account - anything online or offline," Kishore Biyani said in an interview. Apart from this, Biyani's Future Group is also seeking to harness its presence on the ground to complement its push to counter online retail.
Big Bazaar, a hypermarket that sell brands across categories from smartphones, electronics and furniture to grocery and general merchandise, is testing the app that will let consumers compare prices offered by online and other offline retailers. Customers will have a week from the date of purchase to make the price comparison.
In the past two years, Flipkart, Amazon, Snapdeal and others have been offering lower prices to lure consumers, hurting organised retailers, already feeling the squeeze of an economic slowdown. E-tailers may have shelled out discounts worth hundreds of millions of dollars around Diwali alone, according to the trade. Amazon has just launched a Summer Sale, offering "deals that'll make you dance".
Biyani, who's just struck a deal to take over Bharti Retail, said he doesn't worry too much about ecommerce, because it won't be able to match real-world stores in terms of overall volume. The app, which will be available for public use in Mumbai in the coming weeks, will go nationwide in the coming months. Future's acquisition of Bharti Retail in an all stock deal valued the latter at Rs 500 crore.
Apart from this, Future will soon conduct an omni-channel pilot programme in which its Big Bazaar and Food Bazaar stores will deliver goods to customers in Mumbai an hour after they place their orders. The price comparison app is currently being tested by Future Group employees at the Food Bazaar store in Vikhroli in Mumbai.
News Source From : legalera.in
Image Courtesy : indianretailer