In a move reminiscent of its Sabse Sasta Din introduced 15 years ago, Big Bazaar will give Rs 500 worth of the fresh produce on shopping of Rs 2,500 and will launch advertising campaigns across general entertainment channels, print and digital media.. The retailer’s last deep-discounting event was held way back in January 2020.
“Future Group has been able to source products at a relatively lower price from Reliance Jiomart, which is its key vendor now. The budget for the initiative is also from the fund it received after Reliance placed orders in its group entities” said an official aware of the plans.
Since the past three months, Reliance Retail has started using Future Group’s supply chain unit for its logistics and warehousing needs in the food, groceries and fashion retail businesses, even as both firms await the final approvals for their deal for retail assets.
Reliance has also extended crucial support to normalise Future Group’s other businesses — consumer goods firm Future Consumer and apparel manufacturing company Future Enterprises have received large orders from Reliance Retail.
Future Group, which announced its decision to sell the retailing business to Reliance last year, has been struggling to generate sales at its supermarkets due to low inventory and rising debt. With dues exceeding Rs 6,000 crore at vendors, the retailer had struggled to replenish the stores with fresh stock since last year.
“Big Bazaar is back to driving growth. The full range of assortment is back, our shelves and fixtures are abundant with stocks. We have market leading pricing across all products. All our promotional programmes have been restored. We have activated our customer database to craft personalized offers, disruptive saving and excitement to them,” said Sasashiv Nayak, chief executive officer at Big Bazaar. “Sabse Bada Offer” would be a significant cornerstone for us by offering disproportional saving to our customers and disruption to build consumption in these times.”
As part of the Rs 25,000 crore deal, the retail and wholesale undertaking of the Future Group will be transferred to Reliance Retail & Fashion Lifestyle, a wholly owned subsidiary of Reliance Retail Ventures.
Since the deal was announced in August last year, the Future Group has been involved in litigation with Amazon, which owns a 49% stake in Future Coupons, a promoter holding company. Amazon had objected to the deal claiming Reliance was a restricted party under their agreement and approached the arbitration court in Singapore, which said the agreement should be suspended pending a final decision.
The matter is now listed in the Supreme Court and scheduled for hearing on April 27.