Warning: session_start(): open(/opt/alt/php72/var/lib/php/session/sess_0cbbd1ab196ad8cc0ad184692630262c, O_RDWR) failed: Disk quota exceeded (122) in /home/shweuqjw/awajludhianaki.org/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: session_start(): Failed to read session data: files (path: /opt/alt/php72/var/lib/php/session) in /home/shweuqjw/awajludhianaki.org/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83
Online shopping will not replace offline, both will continue to grow: Shashwat Goenka, head of retail & FMCG, RP-Sanjiv Goenka Group - Awaj Ludhiana Ki
Tuesday, July 8, 2025
  • Home
  • National
  • International
  • Movies
  • Technology
  • Business
  • Fitness
  • Lifestyle
  • Punjab
  • Contact us
No Result
View All Result
No Result
View All Result
Home Business

Online shopping will not replace offline, both will continue to grow: Shashwat Goenka, head of retail & FMCG, RP-Sanjiv Goenka Group

by author
July 7, 2021
in Business
0
Online shopping will not replace offline, both will continue to grow: Shashwat Goenka, head of retail & FMCG, RP-Sanjiv Goenka Group
0
SHARES
27
VIEWS
Share on FacebookShare on Twitter


Shashwat Goenka, head, retail & FMCG, RP-Sanjiv Goenka GroupShashwat Goenka, head, retail & FMCG, RP-Sanjiv Goenka Group

The past one-and-a-half year has not been easy for retailers. Consumers restricted store visits amid a surging pandemic with many of them shifting online, nudging retailers to craft a sharper omni-channel play. Spencer’s Retail, that managed to gain 3.4 million new customers in the last 18 months, believes both online and offline will continue to grow. Shashwat Goenka, head, retail & FMCG at RP-Sanjiv Goenka Group tells FE’s Asmita Dey and Shobhana Subramanian that the retailer’s offering of a varied assortment to consumers at competitive price points is what gives them an edge. Excerpts:

Related posts

EXCLUSIVE – Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts

EXCLUSIVE – Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts

June 5, 2023
Why investing just to save tax may be bad for you

Why investing just to save tax may be bad for you

June 5, 2023

Given that more and more people are getting accustomed to shopping online, how far has the impact been for a predominantly offline grocer like you?
I would say that we are an omni-channel retail player. Having said that, the offline retail business did get impacted in the early days of the lockdown last year as people were scared to step out. However, we saw a good recovery in Q4FY21 with infections receding and the economy opening up.

But considering the significant shift to online shopping, we do believe that the rate of growth for any offline retail player will start showing signs of slowing down.
There is definitely a shift to the online. If we take grocery, only about 4% of the market in India is online. That 4% is not going to become 50% through the course of the pandemic which in itself is temporary. Yes, there is a subset of people who would have moved permanently from shopping physically to shopping online. There is also a subset of people who have moved online only because of convenience. Currently, they feel safer shopping online but when things open up, they prefer walking into a physical store. And these are the people who came back to our stores during Q4. We were already a 40% online, 60% offline kind of a retail market earlier as well and we are back to that kind of a number. So yes, what will happen is online grocery will go up significantly due to higher adoption. But will it replace offline? Not at all. Both will continue to grow.

How many new customers did your online platform manage to get?
We have gained 3.4 million new customers in the last 18 months. Our online business made about Rs 28 crore in GMV (gross merchandise value) in FY19. That number went up to about Rs 183 crore in FY21, registering a growth of nearly 650%.

Are you interested in partnering with online retailers like Amazon & Flipkart?
We are open to such discussions.

It appears that there is a near saturation in terms of catchments. Where would you get your next lot of customers?
For us, we have not seen this to be true. All of our stores have actually been growing. We aim for the catchments fairly early. We do not aim for the catchments when they are generally very saturated. Any city that we operate in, we start opening stores and expanding the radius of the city as we move towards the outskirts which are the areas that are expanding. And if you look at stores where we already have dense catchments, those stores are showing phenomenal growth, primarily due to a very aspirational, upwardly mobile catchment that lives around it. Their purchasing power is increasing. The other way to get growth in these markets is by sharpening the omni-channel experience so that you can cater to the evolving customer preferences adequately.

What is the USP of Spencer’s?
Our USP is to give a varied assortment to the consumers at a very good value price. When you really compare all your everyday items offered by us and the competition, you will see we are at par or most likely better priced. Hence, consumers come back to us.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.





Source link

Previous Post

After being stuck for 106 days, Ever Given container ship leaves Suez Canal | World News

Next Post

Better Harvests: Raising funds easier for agri-tech startups

Related Posts

EXCLUSIVE – Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts
Business

EXCLUSIVE – Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts

June 5, 2023
Why investing just to save tax may be bad for you
Business

Why investing just to save tax may be bad for you

June 5, 2023
Share Market outlook today: Nifty, Bank Nifty may to gain on positive global cues; check support, resistance
Business

Share Market outlook today: Nifty, Bank Nifty may to gain on positive global cues; check support, resistance

June 5, 2023
Startup group of G20 calls for $1-trillion commitment
Business

Startup group of G20 calls for $1-trillion commitment

June 5, 2023
DHARAKSHA: Converting rice straw stubble to sustainable packaging material
Business

DHARAKSHA: Converting rice straw stubble to sustainable packaging material

June 4, 2023
Amrita Hospital, Kochi opens two new research centres; announces Rs 65 Crore for charitable care
Business

Amrita Hospital, Kochi opens two new research centres; announces Rs 65 Crore for charitable care

June 4, 2023
Next Post
Better Harvests: Raising funds easier for agri-tech startups

Better Harvests: Raising funds easier for agri-tech startups

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

‘Our languages are not dying, they are being killed’ | India News

‘Our languages are not dying, they are being killed’ | India News

3 years ago
Boost for tourism! How this UN award-winning Himalayan expedition is bringing electricity, sustainablility to remote villages

Boost for tourism! How this UN award-winning Himalayan expedition is bringing electricity, sustainablility to remote villages

5 years ago
True leaders don’t give lollipops: Sidhu hits out at Kejriwal’s AAP over populist measures | India News

True leaders don’t give lollipops: Sidhu hits out at Kejriwal’s AAP over populist measures | India News

4 years ago
Hefty penalty, up to 10-year jail term: Uttar Pradesh clears ordinance to check forced conversions amid ‘love jihad’ row | India News

Hefty penalty, up to 10-year jail term: Uttar Pradesh clears ordinance to check forced conversions amid ‘love jihad’ row | India News

5 years ago

BROWSE BY CATEGORIES

  • Animals
  • Architecture
  • Automobiles
  • Business
  • Culture
  • Fitness
  • International
  • Lifestyle
  • Movies
  • National
  • Sports
  • Technology
  • Travel

BROWSE BY TOPICS

Architecture culture Fitness indian architecture indian culture indian culture and heritage indian news lifestyle national news Technology technology news Travel travelling

About Us

Awaj Ludhiana Ki

Address

2667/3, Kishore Nagar, Tajpur & Jail Road, Ludhiana – 141008

Recent News

  • RTI Reveals Spy Suspect Jyoti Malhotra Was Kerala Govts State Guest; Custody Extended Till July 21
  • India Abstains From UN Resolution On Afghanistan, Calls For Efforts To End Exploitation Of Afghan Soil For Terrorism | India News
  • Indian Travellers With U.S. Visas Can Now Enter 17 Countries Without A Visa – Here’s The Full List | World News
  • From Slave To Superpower – How The U.S. Rose From British Colony To Global Warlord
  • UK F-35B Jet Under Repair In Kerala, UK Grateful To India For Support

Category

  • Animals
  • Architecture
  • Automobiles
  • Business
  • Culture
  • Fitness
  • International
  • Lifestyle
  • Movies
  • National
  • Sports
  • Technology
  • Travel

Search

No Result
View All Result

Email

contact@awajludhianaki.org

  • About
  • Advertise
  • Careers

Copyright © 2019 Awaj Ludhiana Ki or it's affiliates | Website by Awaj Ludhiana Ki Team

No Result
View All Result
  • Home
  • Contact us
  • Animals
  • Architecture
  • Automobiles
  • Business
  • Culture
  • Fashion
  • Fitness
  • Food
  • International
  • Lifestyle
  • Movies
  • National
  • Sports
  • Technology
  • Travel
  • Punjab

Copyright © 2019 Awaj Ludhiana Ki or it's affiliates | Website by Awaj Ludhiana Ki Team

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In