“I attempted e-commerce four times in my life. We started FutureBazaar way before Flipkart. We lost Rs 300-350 cr in business. Then, we created Big Bazaar Direct and we are officially closing it in next one week. We lost there as well,” Kishore Biyani was quoted as saying to Business Standard.
However, the website is currently up and running actively, without any message or notification about the shutdown.
The move echoes companies aim to focus on omni-channel strategy over online only. Recently in its FY16 annual report, the company said,”We are also in the initial phases of developing omni channel retailing which will enable us to sell our products on every platform such as physical stores, online retailing, assisted e-commerce platforms, on television or outdoor medium, or on mobile platforms”…”Even as the Company works towards introducing an omni-channel platform and the concept of digitally-enabled endless aisles at its stores, Big Bazaar today offers home delivery at multiple locations and a partnership with Amazon, now allows customers to order online. Customers also have the option to pay through Mobikwik mobile wallets at all Big Bazaar stores”.
In February this year, Big Bazaar Direct tied up with Oxigen to expand in the offline category. The tie up allowed Oxigen’s 200,000 retailers to sell goods listed on Big Bazaar Direct directly on Oxigen’s platform at physical stores. A similar deal was announced with mobile payments company Paytm in this month, wherein Big Bazaar merchandise will be listed online on Paytm’s platform for sale.