Wal-Mart India’s Best Price Lucknow Store honoured with `International Store of the Year - 2014’ title
- Selected from among 6000 Wal-Mart stores spread across 26 international markets
- Awarded at Wal-Mart Shareholders Week 2014 in Arkansas, USA
Gurgaon, 9 June 2014: Wal-Mart India, the wholly owned subsidiary of Wal-Mart Stores, Inc. today announced that Best Price Modern Wholesale Store in Lucknow, Uttar Pradesh, has been honoured with the `International Store of the Year’ title, from among 6000 Wal-Mart stores spread across 26 international markets outside the United States. The award was announced at the annual Wal-Mart International Shareholders Week 2014 in North-West Arkansas, USA. Alok Srivastava, Store Manager, Best Price Modern Wholesale Store, Lucknow received the award amid loud cheer from the audience comprising over 3000 Wal-Mart employees from various international markets.
The Best Price Modern Wholesale Store in Lucknow has been consistently performing well across all parameters and exceeding expectations in key parameters such as Member Services, Availability, Assortment, Quality and Delivery, Sales and Profitability since it commenced operations in October 2011. This is evident by its strong sales accompanied by year over year increase in buying members by 57 percent and transaction growth of 45 percent. The store has also won several accolades in Walmart India, a noteworthy one being: `Store of the Year 2013’ at the Wal-Mart India Year Beginning Meeting (YBM) held earlier this year.
Announcing the recognition, Krish Iyer, President and CEO, Wal-Mart India Pvt. Ltd. said: “The `International Store of the Year’ award showcases the outstanding level of commitment, engagement, hard work and passion of our associates who continuously drive to deliver results on our mission of `Saving People Money so they can Live Better’. We provide our business members – kirana shops, resellers, hotels, restaurants, offices and institutions - with high quality domestic and international products at low prices so that their businesses prosper. With entries from 6000 stores this year from all 26 international markets outside the U.S., the competition was stronger than ever and this honour is therefore a significant achievement and a morale booster.”
He added, ``Earlier this year, Best Price Modern Wholesale Store was rated as the leading player in Cash and Carry format vis-a-vis competitors and traditional wholesalers. This finding had emerged in an in-depth `Perception Survey’ conducted by the leading market research agency, IMRB International in five of our markets. The survey revealed that Wal-Mart India’s Best Price Modern Wholesale Stores excel in overall store experience and are considered superior in areas such as price, quality, availability, knowledge of store staff, navigation inside store, cleanliness, layout and visibility of price signage, among other parameters.”
The Wal-Mart Shareholders Week 2014, a four-day series of events held in the U.S. at the company headquarters in Northwest Arkansas, concluded on Friday and witnessed attendance from 5000 employees from 27 countries. An annual event at Wal-Mart, the event combines business and employee engagement activities with a mix of leadership presentations, store walk-throughs, sales associate pep rallies, concerts and celebrity appearances, all under the theme of ‘Serving customers through Innovation’.
About Wal-Mart India:
Wal-Mart India Private Limited is a wholly owned subsidiary of Wal-Mart Stores, Inc., the world’s leading retailer renowned for its efficiency and expertise in logistics, supply chain management and sourcing. Wal-Mart India owns and operates 20 Best Price Modern Wholesale stores in 8 States across India. The first store opened in Amritsar in May 2009.
The Best Price stores offer best prices with unmatched convenience, choice, quality and hygiene. The mission of Best Price is to “Enable small businesses to prosper”. To enter and purchase from Best Price stores, it is mandatory to become a member. Members can belong to different business categories such as Resellers (‘Kirana Stores’); Offices and Institutions (O&I); and Hotels, Restaurants and Caterers (HoReCa).
Members get the benefits of wide range of product assortment to suit their needs at competitive, consistent and transparent prices, great shopping experience, convenient payment and delivery solutions. The price structure allows profitability to the members, and also allows them to pass on the price savings to the end-customers, thereby helping them to save money and live better. The assortment, service and store layout are customized to the specific needs of members who can walk into a Best Price store and source high quality products in quantities they need and at the time they require.