Rakesh Biyani, Joint MD of Future Retail spoke at length about growth in consumption, and said that consumption space is getting stronger by the day as we settle with goods and services tax (GST).

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Talking about their new launch Retail 3.0, he said, “The way metro cities are emerging in India traffic is becoming a problem we need to have stores much closer to the customer consuming.”

Therefore, using technology is about ensuring the fact that we have the largest assortment on offer and also address one of the bigger problem that is there in the direct to home kind of a business through e-commerce which is cost of serving to the customer.

“Using these stores we believe the fact that we can reduce the cost of how we serve the customer and at the same point of time because of club data that exists and the data around the behaviour of the consumer we will be able to customize the assortment at the stores and predict what the customer is likely to buy and bring in products more closer and try and create them available on real time basis and that’s the journey with Retail 3.0,” he added.

First Published:Apr 16, 2018 2:01 PM IST