Future Retail soaring high

Future Retail has been soaring into the sky since yesterday. Today too the same trend continued, going on to hit a new life time high at Rs.606.

The reason for this euphoria is that the market is pretty excited with its new plans for retailing.

It yesterday announced plans for a new digital model, coined as Retail 3.0 and will go under the umbrella of Tathastu. These stores are for the benefit of the online shoppers.

For this Future Retail has teamed up with Google India to open a chain of member-only, tech-driven stores under the Easyday name. It is a 10,000 member-only stores by 2022.

Membership will be limited to 2,000 per store and each member will pay an annual fee of Rs.999 for benefits that include a 10% discount on all purchases.  

Kishore Biyani expects some 10 million of its members, which is just 50% of its total members, to have an average annual spend of Rs.1 lakh, which in turn will translate into revenues of a mind boggling Rs.1 trillion.