Future Group recovers post demonetization

Future Group is recovering from demonetization. For Big Bazaar, cash transactions which were around 65 per cent of its sales dropped as low as eight per cent but have now settled at around 18 per cent. About 95 to 98 per cent of Future Group customers have debit cards, ATM cards as well as credit cards. Since the group runs its own supply chains, has its own logistic companies, it has been able to meet all requirements and demand.

During the second quarter Future Consumer managed to continue posting an operational profit. The group says customer footfalls for Big Bazaar are up. Central has been delivering its numbers, Brand Factory has been above the numbers, E-zone, the electronic format, has done numbers and Home Town is picking up. To get around demonetization, they started a promotion ‘Buy Now Pay After March’ which has worked wonders and they are now meeting targets. Kishore Biyani, Founder and Group CEO says they have been are proactive in terms of understanding the situation and working with customers and aligning with them and giving them what they want.