Kishore Biyani is yet again shaping the face of organised retail in India by banking on the (perceived)enemy’s advantage. Biyani’s Big Bazaar reportedly will go live next month with an app, which appears to be designed to take on the rapid growth of ecommerce giants who have succeeded in luring large number of shoppers with attractive discounts and deals.
“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,” Biyani was quoted as saying.
In the past two years, brick-and- mortar retailers have been feeling the heat from the existing e-commerce giants like Flipkart, Amazon, Snapdeal and others. However, Biyani, feels that there is no threat from ecommerce, because it won’t be able to match real-world stores in terms of overall volume.
“Who is afraid of ecommerce?” Biyani asked. “Even if you open 10 sites in 10 years, it will be 10% (of the total organised retail market). Secondly, worldwide, multichannel is the way. Traditional retailers doing multichannel is a bigger thing than pure online in any which way.” he explained.
The price comparison app is currently being tested by Future Group employees at the Food Bazaar store in Vikhroli in Mumbai.
Apart from this, Future Retail merged its retail operations with rival Bharti Retail Ltd, recently, thereby setting the road to create one of India’s biggest retail chains with more than 570 stores across the country.
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