Future Retail launches first Big Bazaar Gen Nxt store in Delhi
Rakesh Biyani, joint MD at Future Retail, says Big Bazaar expects 70,000-100,000 weekly walk-ins at the new store at Ambience mall in Vasant Kunj, Delhi
New Delhi: Delhi’s first Big Bazaar Gen Nxt retail store opened at Ambience mall in Vasant Kunj on Monday, as the Kishore Biyani-led Future Group bets on the premium brand to attract young consumers.
One floor of the 80,000 sq.ft store is dedicated for its in-house fashion brand FBB, while the other floor has food, home and electronic products.
It is the third Gen Nxt store launch in Delhi-NCR after Ambience mall, Gurgaon and Mall of India, Noida.
Launched in 2015, there are now a total of 14 Gen Nxt stores across cities like Mumbai, Delhi, Gurgaon and Noida.
Rakesh Biyani, joint managing director at Future Retail said a Gen Nxt store offers a more premium and a wide assortment of products to consumers who are looking for a unique retail experience.
“Gen Nxt stores are designed to make the brand Big Bazaar look more younger but at the same time we continue to retain the core essence of offering value for money products. We have put together a huge assortment of products which will appeal to young consumers. Apart from families, we are targetting consumers in their early 30s and teenagers through our fashion category,”said Rakesh Biyani, joint managing director at Future Retail Ltd.
Biyani added Big Bazaar expects 70,000-100,000 weekly walk-ins at the new store. A regular Big Bazaar store outlet gets 35,000-40,000 walk-ins a week.
“Globally, online has only 8% to 9% of total retail sales and I don’t see any reason why India would be any different. Instead of thinking about how many giants are coming together and what will they do, we are focussing on ensuring superior shopping experience to our customers. We do realise that there is a significant set of customers who are online friendly, our strategy is to deeply engage with them on digital, Biyani said.
Future Retail is active on various social media platforms. FBB has held an online fashion show on Hotstar and Facebook. Consumers could buy online on the two platforms during the streaming of the show. It also executed an activation with micro-blogging platform Twitter where consumers get to decide the price of certain products and get to buy them at the store. On Republic Day, the company did a 24-hour live telecast on Facebook highlighting the shopping experience at Big Bazaar.
Editor's Picks »
- What to expect from Q3 results of IndiGo, SpiceJet, Jet Airways
- Forget privatisation, govt has hugged its banks tighter
- Flat profit, rising debt are growing worries for Reliance
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies