Wal-Mart India lauches Cash and Carrry

'Best Price ' launched in Amritsar

Wal-Mart India finally launched its first Cash & Carry format named ‘BEST PRICE MODERN WHOLESALE ' in Amritsar on Saturday. In an interview on NDTV Profit, a bullish Raj Jain, President of Wal-Mart India outlined future plans and expects to open 10-15 such outlets in the next 3 years instead of the 7 years originally planned. The company had so far been focusing on the back end and is now ready to look at the front end.

The 'Best Price' outlet carries an assortment of over 6000 SKU's displayed over 50,000 sq ft. The store carries basic commodities, food and FMCG products to electronics and shoppers can shop and choose in air conditioned comfort. These products are sourced from over 750 suppliers consisting of MNC corporations, large manufacturers as well as numerous small manufacturers who were assisted by the company to come up to international levels. The company has also started sourcing directly from farmers to an extent of 15-20%.

The company has already registered 30,000 members who can shop at the outlet. Only authorised retailers and Kirana stores with a valid registration can register to become members and buy in bulk at attractive prices that the outlet offers. It is not open to retail customers Only bonafide businesses can become members. The company has also enrolled 70,000 secondary members - add on to the primary members.

Mr Raj Jain emphasised that retailing is a marathon race and there is a big opportunity in retail. He also talked of the importance of a robust back end for a successful retail operation. In the case of Wal-mart India, it has taken over 18 months to put the back end in place.
The company , along with the Government of Punjab has started a training institute for Retail where scholarships are also offered. 600 students have already graduated from this institute of which 60 have been employed by the company.

The next 3 years will see similar stores coming up in Punjab, Haryana, Delhi and Uttar Pradesh. Lots of action on the Cash and Carry front to watch !!