Modern Bazaar, which set up shop in 1971 with an aim to satisfy the needs of consumers by providing high quality grocery items day in and day out, has recently opened a food emporium at Select CityWalk.
The outlet – which houses integrated bakery, a café and lots of gourmet specialties – spans over 7,000 sq.ft space. It brings the best in foods and ingredients from around the world under one roof. The brand sources bakery, fresh vegetables, meats on daily basis and keeps a close on tab on their freshness.
Talking about his new outlet, Kunaal Kumar, who owns the Modern Bazaar department store chain in Delhi-NCR, said, “This store is a reflection of this kind of positioning where a customer walks into a store with a nice lay-out and can get to pick his choice from a wide assortment of products and brands – from the basics to the upmarket – which are all priced very competitively and come with various deal offers.”
He further added, “Most of the goods that the high-end retailers stock are available at the store but none of the basic stuff that we offer can be found at their stores.”
Modern Bazaar Select CityWalk has exclusive tie-ups with brands like Tea Culture, The First Leaf, Tea Trove, Devi Coffee and Troupe to name a few.
To give a clear understanding of the products, the outlet has allotted specific places to various brands to carry out their promotional activities.
“We always do a special promotion, display, tie-up with the brands in order to promote their products and to help consumers understand what new has been introduced at the store,” revealed Kumar.
Apart from this, the new outlet is equipped with advanced technology to monitor the movement of the customers. Nodes have been installed inside the store which helps in ascertaining that the customers who are visiting the mall, how much time do they spend at the store.
Modern Bazaar, which has more 20,000 SKUs, has 15 per cent private label products on display. And to win the loyal customers, the grocery chain offers attractive discounts and runs loyalty programs.
Explaining the same, Kumar said, “We have fixed discounts for VIP customers plus we have point system. For every purchase made worth Rs 100, customers get Rs 5 as a loyalty point. On certain days of the month, we also offer fixed 10 per cent discount to the registered customers.”
Apart from Saket, the brand has been strategically placed in other parts of Delhi/ NCR as well – New Friends Colony, Vasant Vihar, East Of Kailash, Punjabi Bagh and DLF Phase 1.
“We have a total retail space of around 50,000 sq.ft. with each outlet spanning around 4,000 – 5,000 sq.ft,” revealed Kumar.
Modern Bazaar which has an average bill size ranging between Rs 500 – Rs 2,000, has introduced a new technology, Sign Catch, at the East of Kailash outlet.
“The app-based technology helps customers to checkout on their own. The customers can scan each and every product and make the payment through POS,” explained Kumar.
Apart from this, Kumar revealed Modern Bazaar has implemented the Omnichannel strategy at all the outlets and provides customers the facilities like order online and collect the delivery from the store.
The brand, which has middle-class and upper middle class as its TG, is growing at the rate of 10 per cent every month.
“Last fiscal, we clocked Rs 150 crore revenue and this year, we are expecting 25 per cent jump. We are also looking forward to open 1-2 more stores this year and then next year, we might scout for an investor and open 15-20 stores,” concluded Kumar.