RE­TAIL­ING MILE­STONES OVER THE YEARS

Progressive Grocer (India) - - Cover Story -

Ma­jor break­throughs in the past year: Spencer’s has been re­defin­ing the no­tion of modern trade since its in­cep­tion. In Indian re­tail, Spencer’s started the con­cept of com­pact hyper-for­mat a few years back and this has be­come a dif­fer­en­ti­at­ing ele­ment for Spencer’s visà-vis its com­peti­tors. The fo­cal point of this for­mat was to uti­lize each square foot of space keep­ing the ex­pen­sive cost of real es­tate in mind. Per square foot sales and prof­itabil­ity were the key driv­ers of this con­cept. Cur­rently, 80% of the Spencer’s store space is in large for­mat. In FY 18, it be­came prof­itable at the PBDT (Profit Be­fore Depreciation and Tax) level. Sup­ply chain in­no­va­tion: Spencer’s Re­tail, over the past year, has ramped up key areas of sup­ply chain con­trol for its food and gro­cery re­tail busi­ness. The key in­no­va­tions in­clude, EDI (Elec­tronic Data In­ter­change), which has helped Spencer’s achieve ac­cu­racy in data ex­change by in­creas­ing the fill rate and has also im­proved TAT (turn­around time) of lo­gis­tics by low­er­ing down the cost of sta­tion­ary and man­ual la­bor. The in­tro­duc­tion of Ad­vance Ship­ping Note is an­other ma­jor break­through in its sup­ply chain man­age­ment. In this process, the in­voice of sup­pli­ers gets con­verted through the sys­tem au­to­mat­i­cally and doc­u­men­ta­tion time gets short­ened sig­nif­i­cantly. Its WMS (Ware­house Man­age­ment Sys­tem) has been also rolled out ef­fec­tively to in­crease ef­fi­ciency pa­ram­e­ter in pick­ing and dis­patches while keep­ing the cost at lower level. E-com­merce/ omni-chan­nel ini­tia­tives: Spencer’s is func­tion­ing as an om­nichan­nel re­tailer and the com­pany has taken a much dif­fer­en­ti­ated ap­proach to serve its dis­cern­ing cus­tomers with its e-com­merce chan­nel. Spencer’s launched the on­line busi­ness in 2016 with the in­tro­duc­tion of www.spencers. in where pa­trons can avail has­sle-free home de­liv­ery ser­vices. Cur­rently, the ser­vices of the com­pany’s e-com­merce chan­nel are avail­able in Kolkata, Delhi & NCR, Luc­know, Hyderabad, Vizag, and Chen­nai. With more than 25,000 SKUS to choose from the on­line plat­form, spencers.in com­prises the widest range of as­sort­ment, which in­cludes fresh fruits and veg­eta­bles, fish and meat, bak­ery, dairy prod­ucts, FMCG, per­sonal care, or­ganic food items, spe­cialty food and other util­ity prod­ucts. With its on­line pres­ence, Spencer’s has now been able to bring all its core of­fer­ings to the doorstep of the con­sumers. The Spencer’s app not only pro­vides the con­ve­nience of on­line shop­ping but it also prom­ises to de­liver as­sured qual­ity prod­ucts at best prices within three hours. Cus­tomers may down­load the Spencer’s app from their an­droid and IOS smart­phones to avail the best on­line of­fers, which are seam­less with its off­line of­fer­ings. One may also sub­scribe to a pe­ri­odic list of prod­ucts and share the cu­rated shop­ping list with friends and fam­ily mem­bers. The web­site also hosts Spencer’s Kitchen, a on­estop desti­na­tion for all food lovers who would like to ex­plore sump­tu­ous recipes from dif­fer­ent cor­ners of the world, are en­thu­si­as­tic about cur­rent food trends, and are ea­ger to re­ceive kitchen tips. Cus­tomers can share their own blog posts at spencers.in and en­gage in in­ter­est­ing con­ver­sa­tions about food. Cus­tomer ser­vice ini­tia­tives: Spencer’s has moved to Dig­i­tal YVM (Your Views Mat­ter) and it has re­duced the time it gen­er­ally takes to cap­ture cus­tomer feed­back on a real time ba­sis. Through its sim­pli­fied CRM (Cus­tomer Re­la­tion­ship Man­age­ment) reg­is­tra­tion method, cus­tomers can now give a missed call and send their feed­back. At the same time, the re­tailer can also send proac­tive mes­sages to cus­tomers to know their ex­pe­ri­ences in store and thus cre­ate a feel good fac­tor. Prod­uct demos/ sam­pling ac­tiv­i­ties across cat­e­gories: For any re­tailer, prod­uct sam­pling and demon­stra­tion at the store plays a piv­otal role in reach­ing out to the de­sired TG across cat­e­gories. Spencer’s has in­tro­duced the con­cept of trial in many items across FMCG, Fresh Fruits like man­goes, etc. The Nut Counter is also a one-of-its kind sec­tion where cus­tomers can try a wider range of dry fruits and then pur­chase as per their choice. Be it mak­ing the cus­tomers try the prod­uct in the food cat­e­gory or in the home sec­tion by help­ing cus­tomers se­lect the prod­uct of their choice, the staff mem­bers are al­ways ready to as­sist shop­pers and drive the sam­pling ac­tiv­ity.

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