Spencer’s to now focus on ecommerce plans

With physical retailers charting out ecommerce plans to woo customers, Spencer’s Retail too has fallen in line. Shashwat Goenka, son of RP-Sanjiv Goenka, Group Chairman Sanjiv Goenka, who now leads the Spencer's Retail chain is in the process of firming up plans. The company is taking a planned and well-researched route before actually launching an online platform of Spencer’s.

Goenka wants to continue offering affordable product range even when Spencer’s goes online, so the company would maintain the same price-range as its in-store products. The company wants to be an omni-channel player, complete with mobile application. The platform is slated to be launched this financial year. The company has planned investments in strengthening back-end support, infrastructure and information technology.

By the end of March 2015, Spencer’s aim was to achieve a revenue target of Rs 1,800 crores and plans to cross one billion dollar mark (over Rs 6,200 crores) in next five years. Operating 123 stores at the moment and by next year, the company wants to open 15 more, of which 13 will be hypermarts and two will be large format stores, predominantly in the north, east and south.