In a bid to beat retail blues brought on by the recession, Shopper’s Stop, has embarked on a Rs 4-crore promotional campaign.
The 101-day exercise, 'Seven Wonders of the world' shopping festival has opened across all eight stores. To be eligible, purchases worth over Rs 1,500 at a time have to be made and the really lucky winners, four in all, will get to see the seven wonders of the world.
The festival is an effort to bring back retail customers hit by “recessionary sentiment,” Kumar Rajagopalan, general manager, concessions and retail operations, Shoppers Stop, said. He said 56 people will get to see one wonder of the world while there are a host of other “smaller” gifts.
The retail chain has tied up with Citibank for all its credit card users to get additional benefits. This is in the form of being able to spend over R. 3,000 and pay back in three instalments, without additional interest. The store has also planned 14 unique events, with foreign artists to perform at all the stores.
Shopper’s Stop had revenues of Rs. 215 crore during 2000-01 and expects to touch Rs. 260 crore this year, the second half adding Rs. 160 crore. It also plans to open its Bandra store, on Linking Road, before Diwali, by November 8.
By March, it will open at Kandivli while Gurgaon, near Delhi and Mulund are slated for a July-August 2002 opening. By March 2004, it expects to have 15 stores, with a turnover of Rs 500 crore.