Spencer's plans tie-up with hyper-local startups

17th Aug 2015
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Spencer's Retail Ltd, a CESC subsidiary, was evaluating about tying up with hyper-local startups for digital footprint for the retail major. "We are keeping a close watch of the new development of hyper-local delivery startups as they are gaining popularity. We are evaluating at this moment about our strategy on our foray into e-commerce model", Spencers retail sector head Shashwat Goenka told PTI.


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He indicated that the company was still evaluating whether Spencer's to go on its own, tying up with the hyper local stratups to overcome the logistics challenges or a mix of both. Pricing also remains to be a challenging task for e-commerce at the time when e-tailers were engaged into deep discounting. Goenka did not gave any timeframe to firm its e-commerce plan.

Already a dozen-odd hyper delivery apps are active at least in some parts of the country. Grofers, Tiny Owl, Big basket and Pepper Tap are a few. Even Ola, Amazon, Snapdeal and Flipkart is known to have plans in this arena. Spencer's has not able to post profit on continuous basis and e-commerce could help the retail major in attaining higher sales.

The retail arm's sales per sq ft stood at Rs 1,470 during April-June, compared to Rs 1,350 in the corresponding quarter a year ago, Goenka said. The retail major was looking to add 475,000 sq ft of trading area in the current financial year (2015-16) by adding 12 new hyper format stores in east and south India. Of these 12 stores, the company has already opened three stores in the April-June quarter while it plans to add another 3-4 stores in the current quarter.

Image Credit: Shutterstock


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