Massive discounts to lift retail market. industry expects Rs20-25 cr business in one day.
As the Republic Day (R-Day) turns into a shopping day (S-Day) for Amdavadis, the retail industry is expecting sales of Rs20 crore to Rs25 crore on Thursday.
The city boasts of more than 15 malls, hyper markets and other formats of organised retail. The average sales figure at each of these malls is expected to be around Rs1.50 crore or more.
A retail expert said that around 1.50 lakh footfalls are expected across all malls with average spending expected between Rs1,000 and Rs1,500. "Industry is expecting around 10% to 15% rise in sales compared to last year. As the malls are offering heavy discounts, and the spending power has also gone up compared to last year, Ahmedabad alone is expected to shop for around Rs25 crore on Thursday," said an official of one of the hypermarket brands in city.
However, the organised retail is expected to do a mere 10% of total retail business in the city. AlphaOne mall is expecting double growth in its footfalls. "On an average weekday, Rs370 per footfalls is measured with 28% of conversion ratio from footfalls to sales. On Republic Day, with discount offers of up to 70%, we are expecting 100% growth in footfalls as well as sales," said Dr Prodipta Sen, P- marketing, corp affairs & retail, Alpha G Corp. Sen said, "We are expecting more than 55,000 footfalls with the average sale per footfall likely to be around Rs700," he said. Hence, AlphaOne alone is expecting total sales of up around Rs4 crore. The Himalaya Mall is also expecting 100% rise in footfalls on Thursday. "We are expecting around 20,000 footfalls with average spending between Rs1,000 and Rs1,500," said an official of Himalaya Mall.
The Future Group which has wide range of retail formats is expecting at least 7,500 to 8,000 footfalls in each store. Zonal head of Pantaloon Retail (India) Ltd, Anand Adukia believes that food items and white goods are expected to attract the maximum demand on Thursday. "We are expecting five to six times growth in footfalls as well as sales. Of the total sales, it is estimated that food items and white goods will have maximum share," said Adukia.
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