“It’s not fair to indulge in unjustified expansion”
4Ps B&M: Why should a retailer shift from traditional wholesalers and buy from Best Price Modern Wholesale?
RBM: Because Best Price will provide a retailer with whatever he needs to buy for his store under one roof at the best price and a much better quality. A normal kiraana store carries around 700-800 SKUs and for that he has to deal with 20-25 wholesalers and distributors. We’re committed to maintain a long-term relationship with our buyers. It’ll be highly beneficial for resellers to become partners with us.
4Ps B&M: What monetary benefits will a retailer stand to gain if he buys from Best Price?
RBM: There will be a huge margin on our goods. For instance, on commodities a retailer will have a margin of 3-5%, while on FMCG goods he can save up to 8-10%. On certain goods, a retailer can even save up to 20-25%. All our prices will be benchmarked with the mandi prices and our goods will be sourced directly from producers and manufacturers.
4Ps B&M: And the supply chain?
RBM: Our supply chain is robust and strong. It’s very strong. People have been asking us why we chose the Punjab belt for the roll out of our convenience store, Easyday, and for our cash and carry business. We’ve our distribution centre here and our supply chain is pretty much fixed.
4Ps B&M: Why should a retailer shift from traditional wholesalers and buy from Best Price Modern Wholesale?
RBM: Because Best Price will provide a retailer with whatever he needs to buy for his store under one roof at the best price and a much better quality. A normal kiraana store carries around 700-800 SKUs and for that he has to deal with 20-25 wholesalers and distributors. We’re committed to maintain a long-term relationship with our buyers. It’ll be highly beneficial for resellers to become partners with us.
4Ps B&M: What monetary benefits will a retailer stand to gain if he buys from Best Price?
RBM: There will be a huge margin on our goods. For instance, on commodities a retailer will have a margin of 3-5%, while on FMCG goods he can save up to 8-10%. On certain goods, a retailer can even save up to 20-25%. All our prices will be benchmarked with the mandi prices and our goods will be sourced directly from producers and manufacturers.
4Ps B&M: And the supply chain?
RBM: Our supply chain is robust and strong. It’s very strong. People have been asking us why we chose the Punjab belt for the roll out of our convenience store, Easyday, and for our cash and carry business. We’ve our distribution centre here and our supply chain is pretty much fixed.
4Ps B&M: Earlier, retailers focussed on increasing their retail space. Now that the Indian retail saga is set to enter a new revolution, what changes do you foresee?
RBM: I think a couple of challenges that were there in real estate seem to be easing out now. The markets are bouncing back and the Indian GDP growth is hovering around 7%. We believe that the new government will bring certain reforms in the retail sector and ease out the FDI norms. The organised retail sector is still at a very nascent stage and I believe that there is room for more players to co-exist and contribute to the growth of this sector.
4Ps B&M: What are your expansion plans for Easyday?
RBM: We’re currently operating 26 stores. We’ve covered Punjab and Haryana and now we’re looking at expanding in the Delhi & NCR region.
4Ps B&M: Bharti has been very low-key with the launch of its retail outlets…
RBM: No, I think we’re pretty much on track. We’ve opened two retail models – corporate & retail. We’ve set up a strong back-end and are now ready to meet customer requirements. We’re working for long term and until we’ve cracked the code, its not fair to indulge into unjustified expansion.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2300 IIPM students get jobs
The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School
IIPM set to beat economic slowdown
IIPM Admission Detail
IIPM - Admission Procedure
IIPM, GURGAON
Detail of all IIPM branches
RBM: I think a couple of challenges that were there in real estate seem to be easing out now. The markets are bouncing back and the Indian GDP growth is hovering around 7%. We believe that the new government will bring certain reforms in the retail sector and ease out the FDI norms. The organised retail sector is still at a very nascent stage and I believe that there is room for more players to co-exist and contribute to the growth of this sector.
4Ps B&M: What are your expansion plans for Easyday?
RBM: We’re currently operating 26 stores. We’ve covered Punjab and Haryana and now we’re looking at expanding in the Delhi & NCR region.
4Ps B&M: Bharti has been very low-key with the launch of its retail outlets…
RBM: No, I think we’re pretty much on track. We’ve opened two retail models – corporate & retail. We’ve set up a strong back-end and are now ready to meet customer requirements. We’re working for long term and until we’ve cracked the code, its not fair to indulge into unjustified expansion.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2300 IIPM students get jobs
The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School
IIPM set to beat economic slowdown
IIPM Admission Detail
IIPM - Admission Procedure
IIPM, GURGAON
Detail of all IIPM branches
