Brand Factory will charge entry fees of Rs 100-250 for its five day promotion campaign from November 22-26.
Paying a cover charge at a restaurant or a bar is not something unheard of, but cover charge or an admission fee for a retail store is certainly new. In a first, Future Group's Brand Factory will charge entry fees of Rs 100-250 for its five day promotional campaign from November 22-26, reports The Economic Times.
According to Brand Factory's promotional offer, customer who shops for Rs 5,000 will have pay only Rs 2,000 during the 5-day sale. This Rs 2,000 will also be returned to the customer via shopping vouchers and cash back in the company's e-wallet. The icing on the cake is that shoppers will also be able to redeem the entry fee against purchases.
“We aren’t really charging, because it is refundable,” Kishore Biyani, CEO of the company told the paper. He added that the move is similar to how pre-booking happens online and in the bargain, the company will gain customer loyalty.
But why is Brand factory asking for an admission fees? Biyani said that this will encourage serious shoppers and bring exclusivity to their shopping experience.
The idea came after Brand Factory's sale last year where nearly 12 lakh shoppers visited the stores. While the company earned Rs 115 crore at the event, the crowd was too much to handle.“Last year, there was chaos and we couldn’t service all customers,” said Suresh Sadhwani, business head at Brand Factory. “But now, we hope to limit the customers and curate the footfalls better,” he said.