Future Group’s ‘Cheapest Day’ sale around Republic Day will also be on Amazon. This will increase the scope of a partnership between the two companies. Amazon took a stake in Kishore Biyani’s retail company last year.
In the ‘Cheapest Day’ Sale, items are sold at huge discounts at stores such as Future Bazaar’s Big Bazaar and Food Bazaar. This time it will also be available through a web store on Amazon’s marketplace. Future Group will deliver the ordered products to the web store through its network of outlets and warehouses.
Biyani told ET last month, “We believe that we can get an additional billion dollars in business over the next 24-36 months by partnering with Amazon.” ET reported in December that Amazon plans to use the Future Group’s large network of physical stores to move its hyper-local platform Amazon Now to new cities. The two companies are also planning to provide benefits from both Amazon and Future Group to Amazon Prime Members and Digital Wall Future Pay customers.
Future Group already sells its private brands and other products on Amazon. Amazon also has a grocery delivery agreement with Big Bazaar outlets. Under this, the groceries purchased on Amazon are delivered to the customers. ‘Cheapest Days’ is the biggest discounting event for the Future Group. During this sales, the number of customers at its stores across the country increases significantly.
Amazon agreed to take a 49% stake in Biyani’s Future Coupons last year. Future Coupons hold a 7.3% stake in Future Retail. This gave Amazon a stake of about 3.6% in the country’s largest listed retail company ‘Future Retail’.
However, due to the rapid growth of e-commerce websites like Amazon and Flipkart in recent years, footfall in future group retail stores has been decreased tremendously.