OUR VI­SION IS TO PRO­VIDE A FINE LIV­ING AT AN AF­FORD­ABLE PRICE

SHASHWAT GOENKA SEC­TOR HEAD, SPENCER’S RE­TAIL LTD RP-SAN­JIV GOENKA GROUP

Progressive Grocer (India) - - Front Page -

Spencer’s Re­tail is one of the ear­li­est en­trants in the re­tail space in In­dia, in­tro­duc­ing con­sumers to the con­cept of or­ga­nized re­tail­ing. The as­pi­ra­tional food re­tailer cur­rently runs 138 stores across 36 cities in both large and small for­mats. As a con­sumer­centric com­pany, the re­tailer takes pride in con­stantly in­no­vat­ing to ex­pand its of­fer­ings. Says Shashwat Goenka, Sec­tor Head, Spencer’s Re­tail Lim­ited, “We are fo­cus­ing on strength­en­ing our non-food port­fo­lio and im­prov­ing the shop­per’s ex­pe­ri­ence in the food range. Con­sumers view us as be­ing syn­ony­mous with qual­ity and, hence, from be­ing their pre­ferred food desti­na­tion, we have now ex­tended a sim­i­lar of­fer­ing in the non-food space with cat­e­gories like ap­parel and gen­eral mer­chan­dise.”

More re­cently, Spencer’s om­nichan­nel busi­ness, www.spencers. in, and its foray in fash­ion with 2Bme range of ap­parel for men, women and kids, has been highly ac­cepted and ap­pre­ci­ated by its cus­tomers, which ties in with its mis­sion of “de­light­ing the con­sumer” by cre­at­ing a 360 de­gree memorable brand ex­pe­ri­ence. It is also aim­ing to grow and strengthen its re­tail net­work in the north, south and east of In­dia. “Over the years, Spencer’s has been able to rec­og­nize the needs and as­pi­ra­tions of the cus­tomers in the spe­cific ge­ogra­phies it op­er­ates in. They are look­ing for an in­ter­na­tional shop­ping ex­pe­ri­ence at Spencer’s. Thus, we have been fo­cused, in­no­va­tive and pro­tec­tive while ca­ter­ing to the or­ga­nized re­tail mar­ket. With this ap­proach, we have ma­tured and evolved as a re­tailer and it has given us the chance to grow and pre­serve our strong cus­tomer base,” ob­serves Goenka, in an in­ter­view with Pro­gres­sive Gro­cer with whom he shares his vi­sion and fu­ture roadmap of Spencer’s.

What is the cus­tomer propo­si­tion and mar­ket­ing po­si­tion­ing of Spencer’s store chain?

Spencer’s Re­tail’s brand propo­si­tion “Makes Fine Liv­ing Af­ford­able”, prom­ises a great shop­ping ex­pe­ri­ence to the cus­tomers. We of­fer a wide range of as­sort­ment from ev­ery cat­e­gory – fresh fruits and veg­eta­bles, sta­ples and gro­cery, fish and meat, bak­ery items, beauty and per­sonal care prod­ucts, ap­par­els, elec­tron­ics and elec­tri­cal items, and home es­sen­tials – to cater to the needs of all. With more than 25,000 SKUS (stock keep­ing units), we are in tune with our cus­tomers’ “fine liv­ing” quo­tient, which also gen­er­ates an ex­pe­ri­en­tial shop­ping jour­ney at Spencer’s. Cur­rently, Spencer’s runs 138 stores across 36 cities in two re­tail for­mats – large and small.

Our brand propo­si­tion per­son­i­fies Spencer’s phi­los­o­phy of de­light­ing the shop­pers with the best prod­ucts and ser­vices by em­pow­er­ing shop­pers to make smart choices. Spencer’s key USP is to focus on cus­tomer-cen­tric in­no­va­tions un­der one roof, with an ex­pe­ri­en­tial play. More re­cently, our omni-chan­nel busi­ness, www.spencers.in, and our foray in fash­ion with 2Bme range of ap­par­els for men, women and kids, has been highly ac­cepted and ap­pre­ci­ated by our cus­tomers.

“De­light­ing the con­sumer” by cre­at­ing a 360 de­gree memorable brand ex­pe­ri­ence is what Spencer’s aims for. To­day, con­sumers are highly stressed, so shop­ping should be en­joy­able and en­gag­ing. There­fore, rather than choos­ing to play the price game, Spencer’s fo­cuses on es­tab­lish­ing it­self as the pre­ferred shop­ping desti­na­tion for young cus­tomers look­ing for an ex­ten­sive range of qual­ity prod­ucts and a global shop­ping ex­pe­ri­ence.

Spencer’s has been able to cre­ate a brand prom­ise with its re­tail de­sign strat­egy. This has evolved to cater to the well-trav­elled and glob­ally ex­posed newage shop­pers seek­ing an in­ter­na­tional ex­pe­ri­ence at the store level. Our vi­sion of pro­vid­ing a fine liv­ing at an af­ford­able price is trans­lated through our store

With more than 25,000 SKUS (stock keep­ing units), we are in tune with our cus­tomers’ “fine liv­ing” quo­tient, which also gen­er­ates an ex­pe­ri­en­tial shop­ping jour­ney at Spencer’s. Cur­rently, Spencer’s runs 138 stores across 36 cities in two re­tail for­mats – large and small.

de­sign as well, which our con­sumers ap­pre­ci­ate each time they visit the store.

Shop­ping at Spencer’s is a vis­ual treat, en­hanced by “Heritage Wall” that tells the Spencer’s his­tory, curved sig­nage fea­tur­ing the sig­na­ture “Makes Fine Liv­ing Af­ford­able” tagline, and cat­e­gory-spe­cific color arches sus­pended over zones and de­part­ments to pro­vide vis­ual re­lief and act as nav­i­ga­tional aids. This has also abet­ted Spencer’s to be­come a world­class hyper­mar­ket re­tailer from be­ing just an­other gro­cery re­tailer.

Spencer’s has been re­defin­ing the Indian re­tail land­scape since 1863 and, with the chang­ing shop­ping trends, the con­sumer has al­ways been able to find Spencer’s at a con­ve­nient lo­ca­tion. Even now, after more than 150 years, Spencer’s still con­tin­ues to in­cul­cate the same kind of trust and pa­tron­age among its mil­lions of con­sumers across In­dia.

What is your lo­ca­tion strat­egy of Spencer’s stores? Which lo­ca­tions do you pre­fer and what part do they play in your store sales?

The lo­ca­tion strat­egy of Spencer’s Re­tail is to ex­pand the store pres­ence in clus­ters within our ex­ist­ing ge­ogra­phies. We gen­er­ally pre­fer lo­ca­tions that have a 360 de­gree catch­ment with po­ten­tial cus­tomers who aspire to get qual­ity prod­ucts at an af­ford­able price and wish to ex­pe­ri­ence a world class shop­ping en­vi­ron­ment. Cur­rently, our focus is in the north, south and east of In­dia.

Did you carry any ma­jor course cor­rec­tion or makeover of your busi­ness in the past? If yes, what has been the re­sult of such re­for­mat­ting?

The suc­cess of Spencer’s has been built on four pil­lars – choice, price, qual­ity, and ser­vice. Since past year, Spencer’s is ma­jorly em­pha­siz­ing on strength­en­ing its non-food port­fo­lio along with im­prov­ing the shop­per’s ex­pe­ri­ence in the food range. We have el­e­vated con­sumer ex­pe­ri­ence and en­gage­ment in cat­e­gories like ap­parel with the suc­cess of our 2Bme fash­ion range and en­hanced the prod­uct range in our Gen­eral Mer­chan­dise and Elec­tron­ics depart­ment. Our aim is to con­sis­tently give cus­tomers some­thing new to ex­per­i­ment with while shop­ping at Spencer’s. Also, we have re­aligned most of the cat­e­gories in terms of the “catch­ment needs”. The back­end of “fresh and sta­ples” has been fur­ther strength­ened to de­liver fresh­ness, qual­ity, and avail­abil­ity of the prod­ucts.

As a course cor­rec­tion, Spencer’s closed down loss-mak­ing stores in some of the re­gions and started re­align­ing the ge­ogra­phies we are cur­rently present in. We have also set up Dis­tri­bu­tion Cen­tres in each region.

Spencer’s has taken a ded­i­cated ap­proach us­ing ad­vanced tech­based so­lu­tions. It has car­ried out sig­nif­i­cant de­vel­op­ment in En­ter­prise Re­source Plan­ning In­te­gra­tion with high vol­ume sup­pli­ers to en­sure timely re­plen­ish­ment.

SHASHWAT GOENKA Sec­tor Head, Spencer’s Re­tail Lim­ited

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