Senior Correspondent, IndianRetailer.com & Retailer Magazine Jun 18, 2011 / 2 MIN READ
Betting big on online retailing, Future Group said it is targeting daily sales of at least Rs. 1 crore from its online portal FutureBazaar by the end of the current fiscal.
“We are targeting orders worth Rs. 1 crore everyday on FutureBazaar.com by the end of this financial year,” said FutureBazaar.com president Kashyap Deorah. He said the company is confident of achieving the target given the current growth in the number of transactions happening daily.
In the past, the portal had hit the Rs. 1 crore sales mark in a day on some occasions. “For instance during Diwali last year, we had done sales of Rs. 3 crore on one single day but going ahead we want to make it a habit to register average sales of Rs. 1 crore per day,” Deorah said.
Future Group is targeting at least 10% of its total retail revenues to come from digital platforms in the next three years.
Unveiling India's Retail Revolution: Tech Disruptions, Consumer Shifts, and the Future of E-CommerceGiven this divergence, industry projections indicate Tier II and III cities will continue dramatically outpacing their Tier I counterparts in online order growth rates over the next decade.
During Mumbai Tech Week, Chandok also emphasized that those who do not embrace AI, risk falling behind in the rapidly evolving technological landscape.
In the dynamic arena of retail, departmental stores stand tall as monuments of progress, convenience, and diverse offerings.
But the winds began to shift in the mid-2010s. Mounting debt, fueled by ambitious expansion plans and a competitive landscape increasingly dominated by e-commerce players like Amazon and Flipkart, put immense pressure on Future Retail.
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