FutureBazaar eyes Rs 1 cr online sales every day

Betting big on online retailing, Future Group today said it was targeting daily sales of at least Rs 1 crore from its online portal FutureBazaar by the end of the current fiscal.

"We are targeting orders worth Rs 1 crore everyday on FutureBazaar.Com by the end of this financial year," FutureBazaar.Com President Kashyap Deorah told PTI.

He said the company was confident of achieving the target given the current growth in the number of transactions happening daily.

"The trajectory is pointing in that direction. In terms of revenue, we have grown five times this year compared to last year and expect a similar increase in the next year," Deorah said but did not disclose the figures.

In the past, the portal had hit the Rs 1 crore sales mark in a day on some occasions. "For instance during Diwali last year, we had done sales of Rs 3 crore on one single day but going ahead we want to make it a habit to register average sales of Rs 1 crore per day," Deorah said.

Future Group is targeting at least 10% of its total retail revenues to come from digital platforms in the next three years.

The group's current total annual turnover from all the retail formats such as Big Bazaar, Pantaloons and eZone, is estimated to be over Rs 10,000 crore.

FutureBazaar.Com is working to strengthen online shopping portal by offering attractive deals, greater consumer engagement and partnering with other firms.

Other than FutureBazaar, the company also has online portals for other formats such as eZone, Pantaloons and Big Bazaar and is working to strengthen them to drive more sales.