The RPG Group owned Spencer’s Retail the multi-format
retailer with hypermarkets and convenient stores recorded a same-store sales growth of 40 per cent in West Bengal this year. This has encouraged the company to further penetrate into smaller towns of West Bengal and at other states in the eastern region. West Bengal is already a lucrative market contributing around 15 per cent of Spencer’s total revenue with traditional local market grocery shopping giving way to check-out counters.
Sanjay Gupta, VP, Marketing and Business Development says they see the east continuing to be a significant contributor to Spencer’s in the coming years as well. In terms of market share they have close to 30 per cent share of modern food and grocery retail in West Bengal and this is bound to grow further. Even states like Jharkhand, Orissa, Bihar and Assam are already witnessing higher adoption to modern retail.
Spencer's focuses on verticals like fresh fruit and vegetables, food and grocery, personal care, garments and fashion accessories, home and office essentials, electrical and electronics. Established in 1996, Spencer's has become a popular destination for shoppers in India. With consumers rapidly moving to modern retail outlets which offer a better assortment of products coupled with value offerings, the key challenges will continue to be the supply of right real estate at viable rentals.
Currently Spencer's has retail footage of approximately 1 million sq. ft. and over 220 Spencer's stores in 35 cities. The company operates through the Spencer's Hyper stores, which are destination stores, of more than 15,000 sq. ft. in size as well as neighborhood Spencer stores ranging from 1,500 to 15,000 sq. ft.