Big Bazaar, country's largest hypermarket chain, on Friday announced to launch a discount scheme 'Monthly Bachat Bazaar' starting June on the first eight days of every month to take on E-retailers like Amazon and Flipkart.
The move by Kishore Biyani's Future Group-owned supermarket chain is aimed at ensuring higher footfall across the month instead of just weekends or the first few days after people get their salaries.
"We wanted to bring together all the might of Big Bazaar in an effort to get new customers and at the same time reward existing ones," said Sadashiv Nayak, CEO of Big Bazaar to Economic Times.
"On Friday, Kishore Biyani announced the customer-reward system internally to all employees on Google Hangout, calling it the next wave of growth for the 270 or so Big Bazaar outlets," said the Economic Times report.
"The strategy has been formulated to take on the likes of online retailers and help in increasing customer base and help them stop from migrating online, The Economic Times reported on Monday," added the report.
The new Monthly Bachat Bazaar initiative will be a fixture for every month of the current financial year. Every shopper who buys goods for Rs 2,500 will get cash bonuses and vouchers across segments worth Rs 2,000 from June onwards. The vouchers will be redeemable for the rest of the month ensuring repeat footfalls even during otherwise lean shopping periods.
In fact, after the government last month issued guidelines on overseas investment in online marketplaces, Biyani welcomed the decision and said that the move will prevent e-commerce firms from controlling prices and selling below cost.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today