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Now, Spencer’s is looking to enter e-commerce sector

Sanjiv Goenka led Spencer’s Retail is reportedly looking to
enter the e-commerce segment soon, joining the likes of e-commerce players like
Flipkart, Amazon, Snapdeal, reports Trak.in. According to the Group’s Head for
retailing, Shashwat Goenka, the electronic bazaar will be up and going by April
2015.

Sanjiv Goenka led Spencer’s Retail is reportedly looking to
enter the e-commerce segment soon, joining the likes of e-commerce players like
Flipkart, Amazon, Snapdeal, reports Trak.in. According to the Group’s Head for
retailing, Shashwat Goenka, the electronic bazaar will be up and going by April
2015.

While the e-platform is still in progress, the management is
deciding the implementation of the same. According to the report, from deciding
the product categories to time framing delivery and the cost associated, the
group seems to be doing its SWOT analysis.

“In apparel segment we are looking for a new sourcing point
in Kerala. We have developed seven apparel brands including men’s wear, women’s
wear, kids wear and sports-wear. In West Bengal, we are focusing on local food
items including varieties of fish and rice.” Goenka told Trak.in.

Spencer’s Retail is another wing of RPG conglomerate,
headquartered in Mumbai, and has more than 30,000 employees in the retail
department with 125 stores in 36 cities. In southern India, the retail chain
operates as convenience stores (Spencer’s) and Hypermarkets (Hyper). RPG group
also re-acquired the food retail chain Foodworld which has already has 73
stores in south India.

In July, 2014, Spencer’s has announced to open 11 large
format stores and with the funding on hand, looks like the e-commerce deal is
coming in handy. Though RPG will not merge with any other e-tailer, the
up-coming e-platform will have from food & groceries, apparel, furniture
and furnishing, consumer IT durables, footwear, jewelry etc.

In the retail analysis report, “Pulse of Indian Retail
Market, March 2014” which pointed out to the growth rate of 13% of CAGR to
reach around $950 billion by 2018.

 

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