How Honey Money Top Re­tails, with nine stores in NCR, is grow­ing its cus­tomer base on the back of cus­tomer ser­vice

Progressive Grocer (India) - - News -

De­scribe the jour­ney of your store over the years and which new de­part­ments you have added to the stores?

Since 1997 – when we started our re­tail jour­ney – our mo­tive has been to serve the cus­tomer with qual­ity prod­ucts in the re­tail in­dus­try. Over the years, we have ex­panded our prod­uct reper­toire and added new de­part­ments – im­ported fruits, fresh veg­eta­bles, and the best in gro­cery prod­ucts. Our brand Honey Money Top Re­tails has grown into a large chain with mul­ti­ple stores in Delhi, Greater Noida, Noida and Gur­gaon. Apart from stock­ing all ma­jor cat­e­gory prod­ucts, our stores are known for stock­ing spe­cialised prod­ucts such as Jaipur ki Ga­jak, south In­dian sa­vories, premium Pun­jab ke sweets to Thandai from Luc­know. We try to de­liver the best of all ma­jor food prod­ucts of our coun­try.

Which are the fastest-mov­ing prod­uct cat­e­gories in your stores?

Fruits and veg­eta­bles, dairy prod­ucts, veg and non-veg frozen foods, own brand dry fruits, gro­cery and per­sonal hy­giene prod­ucts, pet foods, fresh bak­ery and con­fec­tioner­ies, beverages, south In­dian spe­cial prod­ucts are the best-sell­ing and fastest mov­ing prod­ucts in our stores.

What is your pri­vate la­bel strat­egy? In which cat­e­gories do you have pri­vate la­bels?

We have own store brands for dry fruits and spices. Our pri­vate brands of­fer the best qual­ity at rea­son­able prices when com­pared with other branded prod­ucts. We also sell high qual­ity and tasty bak­ery prod­ucts like cakes, breads & buns.

What do you feel are the marked dif­fer­en­tia­tors for your stores? Which are those el­e­ments that have be­come the hall­mark of your stores?

Our stores are known for their high qual­ity of­fer­ings in fruits, veg­eta­bles, and gro­cery at rea­son­able prices. We have been suc­cess­fully able to sell qual­ity pro­duce at af­ford­able rates as we do our pur­chas­ing di­rectly from the man­dis. Honey Money Top Re­tails has a ded­i­cated pro­cure­ment team that does manda­tory tests and qual­ity checks for ev­ery pur­chase based on our pol­icy of main­tain­ing the high­est stan­dards. Ev­ery range of prod­ucts in each cat­e­gory is dili­gently au­dited for qual­ity checks be­fore they can be dis­played for sale in the store.

An­other hall­mark of our stores is that the staff at out­lets is very help­ful and very well in­formed about the prod­ucts in each of the de­part­ments. Our stores are known to main­tain stocks across var­i­ous cat­e­gories at all times and women find it very con­ducive to in­dulge in free-minded shop­ping at Honey Money Top Re­tails.

What is the lo­ca­tion strat­egy for your stores?

The lo­ca­tion strat­egy of our stores is based on serv­ing and reach­ing out to premium qual­ity cus­tomers and up­wardly mo­bile pro­fes­sion­als. All our stores are

lo­cated in the ar­eas, colonies and so­ci­eties where our tar­get cus­tomers can eas­ily reach out to us.

Which in­ter­est­ing con­cepts or in­no­va­tions have you in­tro­duced at your stores?

We also have a pol­icy of re­ward­ing our loyal cus­tomers. These cus­tomers get to avail of more ben­e­fits with each and ev­ery shop­ping that they do with us. We pro­vide more bonus points ben­e­fits to the cus­tomers than other re­tail­ers and our Loy­alty Pro­gram fea­tures some of the best ben­e­fits to our cus­tomers un­der the ex­ist­ing schemes and of­fers. Then, we also pro­vide free home de­liv­ery ser­vice and we are the one and only store in the re­gions we serve to have in­tro­duced five dif­fer­ent ways of plac­ing or­ders with us, which shows our com­mit­ment to meet­ing cus­tomer con­ve­nience.

What has been the im­pact of your loy­alty pro­gram on store sales?

Honey Money Top Re­tails loy­alty membership pro­gram has been de­vel­oped to forge a close re­la­tion­ship with our valu­able cus­tomers. We have kept our loy­alty pro­gram strik­ingly sim­ple. Cus­tomers can reg­is­ter with their con­tact de­tails and be­come our Loy­alty Mem­ber free of cost. They can use the loy­alty card to earn and re­deem points for ev­ery trans­ac­tion, in­clud­ing the ex­clu­sive schemes and of­fers. We give our loyal cus­tomers four points – equiv­a­lent to one ru­pee – for ev­ery hun­dred ru­pees worth of trans­ac­tion. Also, there is no lim­i­ta­tion value for re­deem­ing the earned points. So, cus­tomers can start re­deem­ing from the sec­ond shop­ping it­self af­ter reg­is­ter­ing with our loy­alty pro­gram. In F&G re­tail, we are the best loy­alty provider in Delhi-ncr. We have been able to build a large base of loyal cus­tomers who shop with us reg­u­larly at our stores. We are spend­ing Rs. 1 lakh plus per month per store on build­ing our loy­alty pro­gram.

Which mar­ket­ing and pro­mo­tional ac­tiv­i­ties do you pre­fer for push­ing sales in your stores?

For mar­ket­ing and pro­mo­tional ac­tiv­i­ties, we rely on SMSES, e-mail­ers, leaflet dis­tri­bu­tion, ban­ner dis­play, and FM ra­dio.

What do you con­sider to be your strengths and achieve­ments in re­tail­ing?

Honey Money Top Re­tails prides it­self on the fact that its stores of­fer the best qual­ity prod­ucts at a rea­son­able price with an un­match­able cus­tomer ser­vice.

What are your plans for the fu­ture?

Our plan is to have 30+ Honey Money Top Re­tails stores in Delhi-ncr by 2021.

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