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India’s largest ecommerce retailer optimises its supply chain with a string of innovations.
First phase of launch announced; CEO for joint venture appointed.
After signing a master franchise agreement with 7-Eleven last month, Future Group announced that it will open eight 7-Eleven stores in Mumbai as an initial phase. In addition, the Group shared that it is exploring two different retail formats of the chain.
The Group is experimenting between two sizes for its stores – 111 sq m and 185 sq m. While the exact store locations are not finalised, it is expected to be near shopping malls, hospitals and business parks. Future Group had previously announced plans to rebrand some of its existing convenience stores.
Future Group has also named Mr. Hardeep Singh as the CEO for 7-Eleven India. Singh was the founder of Vulcan Express, a logistics firm that provided supply chain solutions to ecommerce platforms, before it was acquired by Future Group. Prior to that, Singh also led the supply chain and logistics function at Walmart India.
Mr. Kishore Biyani, CEO of Future Group, said that the expansion of 7-Eleven India “will be a critical part of growing our food and FMCG brands and bringing new services, formats and conveniences for our customers. An effective supply chain and distribution setup will define the future of a retail format like 7-Eleven."
Find out more information about Future Group here.
Keep up-to-date with the latest retail developments from Asia.
Ecommerce giant takes steps to bridge the online to offline gap in India.
With only one-third of the population with access to the internet, Amazon India is taking steps to strengthen its physical presence in the country. The ecommerce giant has announced plans to open more than 100 small kiosks by the end of this year.
Needing less than 10 sq m, these kiosks will be located within shopping malls and sell a range of locally produced items. Amazon’s own products, like the Kindle ebook reader and the Echo speaker, will also be available at these kiosks.
Amazon first trialled these kiosks in 2017, in Bengaluru. It has since opened four more stores and learnings from these trials have shown there is sufficient demand to support further expansion.
The retailer also announced plans to introduce Amazon Pay, its online payments platform, into several neighbourhood stores. A scan and pay system is being developed specially for these kirana stores.
Already, shoppers can make use of Amazon Pay in the Shoppers Stop department store as well as the chain of More supermarkets. As the retailer already owns a stake in these stores, it has been considerably easier to introduce Amazon Pay into these stores.
However, Amazon Pay will face stiff competition from the more established payment platforms of Paytm, PhonePe and Google Pay.
Find out more information about Amazon here.
Future Retail announces expansion plans for Big Bazaar.
Future Retail has announced plans to spend INR200 crore (US$28.6m) to boost its store network in the eastern region of the country. The retailer is aiming to open 25 new stores from April, operating under the Big Bazaar banner.
Of these 25 new stores, at least seven of them will be located in Kolkata, while the remaining stores will be spread across West Bengal, Bihar, northeast and Odisha.
This announcement comes shortly after Future Retail signed a master franchise agreement to operate 7-Eleven convenience stores in India.
Future Retail is one of India’s largest multi-format retailer and currently operates Big Bazaar, Hypercity, Nilgiris, Heritage Fresh and Easyday banners. Its loyalty programmes, Big Bazaar Profit Club and Easyday Savings Club, has close to 30m members.
Find out more information about Future Retail here.
Seven & i Holdings partners with Future Retail to develop and operate its iconic brand in the country.
7-Eleven, the world’s largest convenience retailer, announced that it has signed a master franchise agreement with Future Retail to begin operations in the country.
The deal looks set to benefit both parties as the Future Group gains access to global technology and processes while 7-Eleven will leverage on the retail experience and local knowledge of Future Retail.
It remains unclear how 7-Eleven will coexist with the 1,300 Easyday stores that Future Retail currently operates. The group has already stated that it will rebrand some of its existing stores.
By introducing greater convenience to shoppers, 7-Eleven’s entry into India looks set to accelerate the modernisation of this channel. Kishore Biyani, founder and group chief executive officer of Future Group said, “we are proud to bring this globally trusted convenience store to India and build new pathways together that will offer Indian customers greater convenience and choices, within their own neighbourhood."
With more than 65,000 stores globally, 7-Eleven has successfully introduced the convenience format into more than 18 countries worldwide. In Japan alone, it operates over 20,000 stores.
Find out more information about Future Retail here and Seven & i Holdings here.
This in-depth guide to India explores the key trends in grocery retail and the growth strategies of the leading retailers in the country.
We've developed a single, universal methodology for calculating food and consumer goods retail data, supported by our programme of primary and secondary research. This makes Datacentre the most reliable and robust source available for data of this type.