Croma aims for Rs 2,000-crore plus business this year
From a Rs 31-crore worth business in 2007, Croma has gone on to make business worth Rs 1,549 crore in 2010. Croma believes it will make a business worth Rs 2,000 crore this year.
A Tata Enterprise, electronic retail store, Croma has seen success from day one of its launch in Tier-1 cities like Mumbai, Delhi and Bangalore. Since its launch in October 2006 at Juhu, Croma has done excellent business in the west market. The company started off selling small appliances like toaster, which wouldn’t make the housewives think too much about the budget. From there on, the store has done well to sell all electronic goods.
At the Mumbai leg of the Pitch CMO Summit 2011, Sumit Sahay, Marketing Head, Infiniti Retail (Croma), shared the secret behind Croma’s success. He credits the success to Croma’s strategy of helping pout the customers with a live demonstration of products. He claims, Croma to be the first company to offer demos at stores. “The focus of Croma has been on guided selling through well trained and friendly sale staff,” he said.
Croma believes that all customers should get to see the product and test it before they would want to buy it, since no other retailer was giving such an option earlier.
Informing about the growth of Croma stores in India, Sahay said, “We have had successful five years for now. There are more than 70 stores in 13 cities; Mumbai has 19 stores, Delhi has 17 and Bangalore has 12. We have six stores in Gujarat and one in Aurangabad, Maharashtra.”
Croma has plans to expand to east and Kerala too. As far as making profits is concerned, Sahay informed that the company, last year did business worth Rs 1,549 crore and this year we are expecting to cross the Rs 2,000 crore mark.”
Talking on taking Croma to the e-commerce platform, Sahay said, “e-commerce has been a target for us. We have seen that consumers have adopted this way of buying electronic goods. We would be coming up soon with cromaretail.com for such consumers.”
Adding about the success of new stores at airports, Sahay said, “We have Croma Zip stores at airports and the concept has been quite successful. These Zip stores are doing quite well for us and passengers do come and buy small and portable electronic goods. We have done good sales through these Zip stores.
Speaking about Croma’s communication strategies, Sahay said, “We have always targeted print media to a major effect. Our focus has also been on digital, outdoor and SMS. Once we open more stores in more cities, we would also be looking at television as one of the advertising options.”
The presenting sponsor of the Summit was Jagran in association with Zee Bangla; and other associate sponsors included Times Television Network and Open magazine.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube