Kishore Biyani-led Big Bazzar has tied up with State Bank of India to enable mini ATMs across all its 260 stores to allow consumers withdraw Rs 2000, using their debit cards, while they shop.
The company has come out with the move at a time when Government’s decision to demonetize Rs 500 and Rs 1,000 denomination notes has affected the business of various retailers as consumers look to save their precious cash.
Future Group CEO Kishore Biyani, tweeted,” Now one can withdraw 2000rs from bigbazaar using your debit card from this Thursday (November 24) onwards.”
He also said that the mini ATMs will be dispensing money received from sales being done at the store.
“Cash being dispensed at bigbazaar is the money received from sales of customers being circulated back to customers, no withdrawal from bank,” Biyani said.
This is the second time that Future Group has come to consumers rescue at a time of cash crunch. On November 8, the day when Prime Minister announced the demonetization decision, Future Retail stores – including Central, Ezone, Home Center, Brand Factory and Big Bazaar – were all accepting Rs 500 and Rs 1,000 notes till midnight, helping people stock up on basic necessities for the next few days.
Biyani tweeted then,” For the benefit of the consumer we are asking our stores to be open till 11: 50 to help people buy their daily needs.”
The strategic move will help the company drive footfalls in the stores and in return increase their conversion rates to push sales.