 "What slowdown, asks Kishore Biyani")
“The consumer wants to enjoy small joys of life, even if he is deferring spending on big-ticket items. That’s why we are seeing double-digit same-store sales growth,” Biyani said at the India Retail Forum 2013 in Mumbai.
“In our Central format, we are seeing 20 per cent same-store sales growth.”
On the Reserve Bank of India’s plan to increase interest rates and clamp on interest-free schemes, he said: “Consumers will not stop spending just because rates have gone up or zero per cent-schemes have stopped.”
He said the new Big Bazaar Direct venture might become a larger success than his present flagship Big Bazaar stores. Big Bazaar Direct is a franchisee-based model, where the franchisees will visit consumers and take orders, to be delivered in three-seven days..