Big Bazaar Freedom Sale; change in customer preferences
Moneycontrol reports that this year the Big Bazaar Freedom Sale raked in the moolah; Rs 300 crore over a three-day period versus Rs 150 crore last year. But what was notable in this year's sale was the clear change in customer preferences.
People spent a lot more money on travel and electronics, which was a clear trend witnessed in the previous ten months. Also there was a lot of 'youth driven' consumption. Sales zoomed in jeanswear and young fashion category.
Big Bazaar sold over three lakh pairs of jeans, 50,000 DVD players and 25,000 microwave ovens. In all, the fashion, electronics and travel segments made up about 70% of sales. Last year, these categories made up only about 60%. The CEO of Future Group, Kishore Biyani believes that Indians are now spending more on non-essentials.
People spent a lot more money on travel and electronics, which was a clear trend witnessed in the previous ten months. Also there was a lot of 'youth driven' consumption. Sales zoomed in jeanswear and young fashion category.
Big Bazaar sold over three lakh pairs of jeans, 50,000 DVD players and 25,000 microwave ovens. In all, the fashion, electronics and travel segments made up about 70% of sales. Last year, these categories made up only about 60%. The CEO of Future Group, Kishore Biyani believes that Indians are now spending more on non-essentials.
Comments
For eg. Following the Freedom Sale in Big Bazaar, MORE stores has also started a sale (Discount sale and Two for price of 1).
The MORE stores might not be the direct competitor of Big Bazaar, but it surely attracts those customers who feel Big Bazaar's interiors are shabby or congested or who feel shopping in MORE is a better lifestyle portrayal. There exists customers who feel Big bazaar stores offer EDLP and another sale in the store is not much noticeable but the resulting response of competitor stores is more beneficial to these customers.