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Nov 19, 2012, 09.23 AM IST
One of the oldest retailers in the country Shopper's Stop on the art and science of data analytics
People say different things, mild exaggerations at times, but purchased data does not lie.
Retailers have pioneered the use of data analytics across the world. In India, Shoppers Stop , that started in 1991 and had an annual turnover of nearly Rs 2,200 crore last fiscal and operates in 24 cities, is one of the pioneers. Its loyalty programme, the 'First Citizens' club that has over 2.6 million members contributes not just 70 percent of the chain's revenues but also to all the key insights that drive the business.
On CNBC-TV18's Storyboard, Shoppers Stop’s chief marketing officer, Vinay Bhatia explains how data analytics works for Shoppers Stop
Below is the edited transcript of Bhatia's interview.
Q: So, would you say it was a good Diwali?
A: Yes, its been a very good Diwali. We are clearly looking at double digit growth rates, like-to-like growth rates and that is a big change from where we were in the beginning part of the year, which was not as joyous. Diwali has been good. It started off in the East where the pujas set pretty much the tone for rest of India. The pujas went off very nicely. We saw a double digit growth rate and in the rest of India, Bombay, Delhi, Bangalore too it has been a good Diwali. We are very much on track in terms of what we expected to achieve.
Q: Has Diwali sales this year surpassed Diwali sales last year, given that this year has been a weak year in terms of economic outlook and consumer sentiment?
A: Certainly sales have surpassed vis-à-vis last year. The like-to-like growth rates are double digit. The key thing is the customer sentiment and with stock markets being in a reasonably good shape compared to the earlier part of the year, we see a lot of sentiment and perception coming back. That, probably has done the trick in this festive season.
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