Spencer’s to finalise e-commerce plan next fiscal, aims to increase private labels

KOLKATA: RP-Sanjiv Goenka Group’s Spencer’s Retail aims to finalise its e-commerce plan by April next fiscal (2015-16). Spencer’s Retail sector head Shashwat Goenka confirmed that prices at the brick and mortar stores and the e-commerce would be the same once the company offers the product online in April.


Additionally, Spencer’s Retail, a CESC subsidiary, also said that it has decided to augment and increase its private labels, mostly in food and apparels.


“We would freeze the e-commerce business model within next couple of months and implement it over a time period. We are likely to begin with a few categories of products for our on-line store,” Goenka said in Kolkata on Friday.


To make a differentiation and to cut down logistics cost, the company would depend on local sourcing more than pan-India collection. “In West Bengal, we are focusing on local food items including varieties of fish and rice,” he said.


It should be noted that within a short span of its operation, Spencer’s has become a family store since it offers regional flavours in the product vertical. “Spencer’s has decided to stress more on local sourcing and bring in regional flavours in the product baskets,” Goenka said.


Talking about the plans for apparel section, he said, “In the apparel segment, we are looking for a new sourcing point in Kerala. We have developed seven apparel brands including men’s, women’s, kids and sports wear.”

The retail chain is also looking to expand its chain but mainly through large-format in the range of above 25,000 square feet, said Goenka, explaining that all these efforts were geared to make Spencer’s profitable.


Speaking about the company’s expansion strategy, Goenka said that Spencer’s would focus on expanding in the eastern and southern markets of the country. “We would also be present in the north, particularly in Uttar Pradesh and the National Capital Region,” he said.


However, western region will continue to see a token presence in Gujarat.

In the next fiscal 2015-16, Spencer’s is looking at commanding a presence in 12 - 15 large format hyper stores, with a majority of stores being in the eastern and southern regions.


Currently, Spencer’s has around 125 stores in 36 cities including 33 hyper stores. The total store area now stands at over one million square-feet.


For expansion, Spencer’s would spend approximately Rs 3 -5 crore for each hyper store. When asked about the funding for expansion, Goenka said, “CESC, our parent company, would fund the projects.”

Latest Reads
Ogilvy India makes key top-level appointments

MUMBAI: Advertising agency Ogilvy India has announced the appointment of Prem Narayan as its new chief strategy officer and Balagopalan Ganapathy as the new head of planning, Ogilvy Mumbai. Narayan and Ganapathy have started in their respective roles with immediate effect.

MAM Media and Advertising People
SVG Columbus debuts with big wins at IAMAI's 8th India Digital Awards

SVG Columbus has been honoured with 2 Golds and 1 Silver by the Internet & Mobile Association of India (IAMAI) on its debut. For the record, SVG Media was acquired by Dentsu Aegis Network in April 2017. Post the acquisition, SVG Media launched Columbus – an agency focused on Data Driven...

MAM Marketing MAM
81% Indians find ads intrusive: KMB study

MUMBAI: A well-executed multichannel campaign is a thing of beauty. But over one in four of the campaigns we see are not well integrated, and consumers are much more critical than marketers about campaign connectivity. Also, less than half of all campaigns take full advantage of different channels...

MAM Marketing MAM
Vivo YouTube campaign saw better response using Vogon

MUMBAI: Chinese smartphone brand Vivo rolled out a digital campaign - ViewTube, giving a new wave to YouTube’s ongoing TrueView Ads. With the launch of its V7 model, Vivo leveraged Google’s Director Mix tool to launch a campaign that offers a unique creative solution to gauge higher viewer...

MAM Marketing MAM
Big Bazaar launches game to promote R-day sale

MUMBAI: Hypermarket chain from Future Group, Big Bazaar, has created a mobile game to promote its mega property, ‘Big Bazaar Sabse Saste 5 Din’. Designed and executed by L & K Saatchi & Saatchi, Big Bazaar’s innovative deal game is set to transform the shopping experience in India....

MAM Marketing Brands
Inito gives anxious couples hope through its new ad

The desire to have children is something that is harboured by millions of couples. But, in the eagerness to do so, many times this whimsical process ends up becoming strenuous and stressful for many. In order to help beat the woes for many such couples, Inito, a medical technology company, has...

MAM Marketing Brands
Vernacular content consumers to be 2.5 times English by 2021: Deloitte

MUMBAI: Deloitte India has launched the eighth edition of its report on technology, media and telecommunications which predicts major advances in machine learning, voice over LTE (VoLTE) technology services and over-the-top (OTT) platforms, apart from other trends.

MAM Marketing MAM
IAA's new initiative seeks to end rigidity in office timings

A new social initiative titled #WorkToLiveToWork has been undertaken by the International Advertising Association’s (IAA) India chapter with Nandini Dias, managing committee member of IAA and CEO of Lodestar India, at the helm. Dias lost two colleagues in separate accidents related to railways...

MAM Media and Advertising People
PVR promotes cleaner air

MUMBAI: Cinema exhibition company PVR Pictures has launched a new campaign called, #BeTheCommuter with an aim to promote clean air and curb pollution.

MAM Marketing Brands

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories