‘The aspirational segment, driven by women, is moving up’

HERALD: How has the festival season been for the company?

SHASHANK MAHATME:  It has been very good, Diwali and Ganesh was good, the shopping for Christmas has not picked up yet.  Perhaps over the weekend it will pick up when the schools shut for the holidays. We have had a footfall of 8500 to 9000 a day and it is expected to rise to 15,000 once the school is shut. We have Shopper stop, we have a spectrum of the stores from low budget, economical ones to premium stores. A lot of people said demonetisation and GST and yes it hurt us. It dropped to 6000 7000 foot fall for a short time. The situation has changed. In 2016-17 the sales figures of Big Bazaar was Rs.68cr. which works out to Rs. 5.6 cr a month. This year they are looking at a 47 % and intend to touch Rs. 100 crores. The aspiration to move up is always there. FBB conducted business worth Rs. 29 crore and intend to reach Rs. 45 crores. Remember the bill value is anywhere between Rs. 500,700,900.The pace of growth is increasing. Remember 55% of Goa is inspirational, in 2016-17 had 35 % conversion and it going up to 52%. The absolute bill value is increasing by 18% to 20%. Big Bazaar and Shopper Stop were affected by demonetisation and GST because the brands had to become compliant. FBB in Goa is amongst the top 5 stores in India and number 1 in South India. In Big Bazaar, food is a big driver. In 2016-17 Shopper Stop generated Rs.19cr, in 2017-18 they looking at Rs. 24 crores and Rs. 36 crores after that an increase of 20%. Please understand there are people who will crib.   

HERALD: How important is the Christmas season for your bottom-line?  

SM:  It gives us 10 per cent to 15 per cent in sales. .    

HERALD: How do you expect the New Year to be business wise? 

SM:  Growth will happen but it will need new schemes to build more footfall and conversions already happen. A new mall is coming up in Patto, which is promoted by DLF. I will say this will change the rules completely. We intend to make use of the fourth floor at the mall and we hope to make it a party deck. 

HERALD: How is the emerging technology changing the rules of the game?

SM:  All diff kinds of apps are available, which is driving sales. We are also training our staff and please remember we are in the hospitality industry. We are helping them become more sensitive, next year business will happen and growth will take place. 

HERALD: What are the trends visible in Goa?

SM:  The aspirational segment in the state is moving up. It is a very tiny percentage and it is being led by women.  That is interesting.