GOVIND SHRIKHANDE – Chief Executive Officer SHOPPER STOP
We started as a one stop shop. Today we are an inspirational and a trusted brand for the modern Indian fashionable families. We transform their life and delight them in their shopping experiences every time. That’s the passion and the vision. Offering them fashion, lifestyle, experience and also being trusted and a transformational brand. When customers who know little of fashion and enter Shoppers Stop, their life gets transformed because they get to know about new brands, get to know new trends and get to know new styles. That is where the transformation happens. Trusted and inspirational because you can’t be a brand anywhere unless you are trusted and change the game. When somebody trusts you, their life, their fashion, their habits, their shopping, they simply trust you. Once trusted as a brand with efforts, the job is to keep inspiring your customers and innovating newer and bigger experiences and bonuses. Inspirational because you can learn lots of things from the retail brand, the retail store and from the fashion etc. and the delightful shopping experience. That’s the deliverable we have, that we must deliver to customers because when customers enter the store, they should be delighted.
What is the big idea about doing business?
I think transforming customer life and delighting them every time. That is the big idea
So you on a regular basis connect with the client
Absolutely. The few important differentiation between us and competition is our large loyalty program called the first citizen. It has 4.4 million customers. It contributes to 76% of our sales and we have the entire data for all these customers who have been shopping for 20 years and more. We focus deeply on loyalty and engagement programs that truly connect with our customers.
So what do you think in this context the future is online or it will be a marriage between both?
It will be a marriage of both. Take the American example. 10% is online and 90% on retail. But almost 40% of physical retail is getting impacted by research online. So what’s happening is people are spending lot of time on digital. Business will get impacted because of digital marketing . Indian still wants to touch and feel the product so that will not go away. But a lot of research will go online before going to the store. Its a combination of digital research and physical experience. We ensure an experiential brand and shopping experience.
What was your first paying job?
After my MBA, I joined Mafatlal as a management trainee. That was my first paying job. As a management trainee, working in marketing and market research way back in 1984.
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