Progressive Grocer spoke to KN Niyas, Partner, and a third generation member of the family that founded the MK Retail Company, which has held its own as a pioneering F&G retailer meeting the expectations and aspirations of generations of consumers over decades by providing quality, affordability and assortment in a modern supermarket setting.
FACT BOX: MK RETAIL AT A GLANCE
Name of the retailer: MK.Retail Company
Launch of first store: 1927
City/ies where stores are in operation: Bangalore
Number of stores in operation currently: 8
Total retail trading area: 74,500sq.ft.
Store size: 4,000-25,000 sq.ft.
Product categories & merchandise: FMCG Food; FMCG Non-food; Consumer Durables; Fruit & Veg; Fish & Meat;
SKUs per store: 60,000
Percentage of shelf space to major product categories: FMCG Food 50%; FMCG Non-food 30%; Fruits & Veg 10%; Fish & Meat 10%;
Sales contribution from PLs: 30%
Sales growth over the past 5 years: 25% per annum
Average monthly sales: Rs. 13 crore
Sales growth y-o-y: 10%
Average bill size: Rs. 800
Catchment and customer profile: Upper class and upper middle class
Daily footfalls: Approx. 5,000 across all stores
Number of Employees: 550
Give us an overview of the history of your store over the years; the eventful milestones in its development and a sketch of its progression till date. MK Retail has a legacy of over 90 years. Started in 1927 by M.K. Ahmed, the scion of a prominent retail business family, the store, back then, was called MK Ahmed & Sons. It was a novel concept then, and soon, thanks to its location – the central business district of Bangalore – the store shot to fame. The founder, with his visionary zeal, customer-centric approach and towering entrepreneurial spirit, turned MK Ahmed & Sons into the most favorite neighborhood convenient store in Bangalore.
Denne historien er fra August 2019-utgaven av Progressive Grocer.
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Denne historien er fra August 2019-utgaven av Progressive Grocer.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Gurgaon's First and Most Successful Independent F&G Retailer
SINCE LAUNCHING ITS FIRST OUTLET IN THE YEAR 2000 IN DLF GURGAON AT A TIME WHEN MODERN TRADE FOOD AND GROCERY STORES WERE NOWHERE ON THE RETAIL HORIZONS OF THE MILLENNIUM CITY, NEEDS SUPERMARKET HAS GROWN TO ADD 26 LARGE, MEDIUM AND SMALL STORES TO ITS KITTY, CLOCKING AN ADMIRABLE RUN RATE ON VARIOUS PARAMETERS OF RETAILING EXCELLENCE ALONG THE WAY. PROGRESSIVE GROCER SPOKE TO NEEDS SUPERMARKET’S MD AJAY DHAR, AND CEO, ARUN KHATTAR, ABOUT HOW THE GROCERY CHAIN HAS BEEN ABLE TO HOLD ITS OWN AND CLOCK STEADY GROWTH IN A HYPER-COMPETITIVE MARKET DOTTED WITH BIG-BOX NATIONAL RETAILERS AND THE SECRET SAUCE BEHIND ITS SUCCESS RECIPE.
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Increased Focus on Health, Wellness, and Immunity-boosting Products
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Consumer focus on hygiene & nutrition boosts packaged paneer sales
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ACQUISITIONS, ADJACENCIES AND INNOVATION DEFINE THE GLOBAL BRANDED FOOD COMPANY’S GROWTH STRATEGY
The New Normal for Snacks
THE POST-PANDEMIC CONSUMER WILL DEMAND BETTER-FOR-YOU MEAL SOLUTIONS MORE THAN EVER BEFORE.
The rise of superfoods and ways to mainstream them on retail shelves
WHAT ARE SUPERFOODS AND THEIR BENEFITS AND WHY THESE PRODUCTS ARE WITNESSING A HUGE SURGE IN DEMAND? WHAT ARE THE CHALLENGES OF INFUSING THESE SUPERFOODS INTO OUR TRADITIONAL FOOD PRODUCTS, AND HOW CAN THEIR VISIBILITY AND AWARENESS BE RAMPED UP IN ON-GROUND SHELVES OF SUPERMARKETS AND RETAIL COUNTERS?
What is driving consumers to become more conscious of what they eat?
WITH CONSUMERS BECOMING MORE HEALTH-CONSCIOUS, RETAILERS HAVE ALSO STARTED MAKING SHIFTS IN THEIR OWN MERCHANDISING AND MARKETING TO KEEP UP WITH THE TREND.
