Spencer's Retail to open 4 hyper-stores in coming two months

Spencer's Retail Limited, India's leading food-first multi-format chain plans to expand its footprint across the country by opening 12 hyper-stores in this financial year. In the coming two months they are opening four hyper stores in Bhopal, Meerut, Raipur and another in the RP- Sanjiv Goenka group's own shopping mall Quest in Park Circus- Kolkata by September. On the occasion of their "Gift Card” launch in South City Mall Kolkata, Mohit Kampani- President & CEO, Spencer's Retail Ltd. also shared, "June has been a very profitable month for us and we found our strategic model through hyper-markets which are doing very well. Thus, we are going to expand more rigorously this year. Last year Spencer's grew by 16% following this model and it has been a very significant growth rate for the brand. Our aim is to open 85 hyper-stores within 4 years.”

With the Quest Mall outlet, Spencer's will be introducing the new experiential food format in their hyper stores for the first time in India where the 40% of the store will cover fresh varieties of  products giving a touch and feel of the goods offered. So far Spencer's has been into packaged food and groceries etc. but this is for the first time that the customers will have more opportunity to interact. The Axis Mall outlet is also getting revamped and will follow this new replica which will re-open in the month of August.

Speaking on their new shopper connective initiative'Gift Card', Mohit Kampani further said, "Gifting is an intricate part of our culture and this gives the customers the freedom to choose the product of their choice and also the time of purchase as the card will remain valid for a period of one year from the date of activation. The Gift card programme is aimed at making gifting convenient and hassle free which is designed to enable cashless transactions at Spencer's stores. The gift card can be loaded with any denomination ranging from Rs 500-9,999 and redeemed for any value making gifting easy for our shoppers. Spencer's is one of the first food and grocery retailers to launch Pre-paid Gift Card and we plan to launch this card nationally by the next quarter.”