JOIN USFuture Group, which created ripples in the retail market by merging Bharti Retail with itself to make a combined Rs 15,000-crore entity, on Thursday announced its strategic partnership with software product firm Manthan to use its analytics tools and big data to spur growth.
Interacting with Deccan herald, Future Retail Joint Managing Director Rakesh Biyani said the initiative comes after taking into account the fast changing consumer behaviour and consistent execution challenges.
“Customer-centric execution is key to our growth. We needed new technologies to develop new competencies and change our game,” he said.
“By making decisions faster and more precise, and our execution more efficient, we believe Manthan’s analytics has the potential to realise a 7-9 per cent reduction in out-of-stocks, recover an average 5-7 per cent in lost sales, and achieve 10-12 per cent reduction in churn. All of this would not be possible without the ability to spot and act on analytics-driven opportunities,” Rakesh said.
Manthan Chief Executive Officer Atul Jalan said that customers are looking for more personalisation and consistency in their experience.
Manthan has deployed its suite of analytics solutions in Future’s key store brands for the past nine months.