, a Madanapalle Retail Pvt. Ltd. venture, today introduced, in Chennai a new retail model aimed at addressing the demand-supply need of retail that exists in smaller towns in India. This follows the successful launch of the retail concept in the state of Andhra Pradesh in September 2012.
FabMart.Com a finalist at the India Retail Forum 2012 for the Best Retail Innovation award, introduced ‘RU-BAN’ the retail model that is aimed at bridging the retail gap between ‘ru
’ India. FabMart.Com will integrate the business of retail with the social fabric of small towns empowering the retailer in rural markets (or smaller towns) and provide local consumers with a choice of products that are otherwise available only in metros and larger Indian cities.
“We are on an expansion mode and today we are launching in Chennai in the state of Tamil Nadu,” said Alphonse Reddy, CEO, FabMart.Com. “We had an overwhelming response from our recent launch in Andhra Pradesh last month where, in a span of twenty-five days we had over 100 enquiries and after carrying out our due-diligence, we were able to appoint 20 FabMart Franchisees and the rest will be appointed in the coming few weeks,” he added.
Consumers in smaller towns are excited and have been increasingly demanding a similar shopping experience (in terms of brands, product range, special offers) to those of their counterparts in larger cities. Similarly, some of the big brands have been looking for an entry into smaller towns.
The RU-BAN business model brings the retailers, brands and consumers together on a single technology-enabled platform, placing the smaller retailer at the center of FabMart.Com business model. The retailers book the orders from their customers using a touch-screen tablet as a device. The customer returns in a few days to collect the product, thereby eliminating concerns around security of online transactions or the use of credit cards, creating a win-win situation for FabMart.Com, the retailer, the brand owner and the consumer. Through this process, FabMart.Com has put the retail power back in the hands of the small local retailer. This is achieved by empowering them with technology as an enabler and by providing the retailer training on customer focus and dealing in branded products.
GROWTH AND MARKET FOCUS
FabMart.Com business strategy has an aggressive expansion drive to appoint more than 100 franchisees in Tamil Nadu and a total of 750 retailers across South India this year. Across multiple locations, this number is expected to increase to 2,500 by 2013 and further, to 12,000 franchisees by end of 2014. Following the expansion in Tamil Nadu, FabMart.Com plans to enter Karnataka, and eventually across India.
ACCESS AND AVAILABILITY
Currently, FabMart.Com invites interested franchisees to visit the website www.FabMart.com
and or call 1800 419 5995 to register. Following evaluation and selection the franchisees will be sufficiently trained in providing consistent customer experience, sales techniques, and basic store hygiene. In addition, FabMart.Com will roll-out the ‘HAPPY DAYS’
– a Festive Offer special and an exclusive Franchise Training Program called ‘INVOLVE’
– all aimed to be achieved in the coming weeks.
PROMISING GROWTH IN MARKET
A recently published study by management consultancy firm AT Kearney, reveals that modern retail constitutes merely 7% of the $435-billion Indian retail market, thus indicating the potential and importance of the small retailer. Further, a published Nielsen report cited that ‘Middle India’ is home to 100 million Indians and constitutes up to 20% of the country’s fast-moving consumer goods market. The FMCG market in Middle India will grow from Rs.28,700 crore in value currently to Rs.4 lakh crore by 2026. The numbers make it an attractive market for consumer product companies as well, beyond FMCG. India has the highest density of mom-and-pop shops in the world, with 11 shops per 1000 people, and these small stores have the potential to drive India’s economy outside of the metros.
FabMart.Com, a part of Madanapalle Retail Private Limited is a retail venture aimed at integrating branded retail with the social fabric of emerging India. FabMart.Com follows the unique RU-BAN model, leveraging the goodwill of the smaller retailer to bring rural consumers and big brands on a common technology-enabled platform.
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Alphonse Reddy, CEO and Founder, FabMart.Com
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