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Shashwat Goenka’s Vision: Spencer’s JIFFY Set to Transform Retail

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Spencer’s Retail, part of the RP Sanjiv Goenka Group, made its debut in the quick commerce space on Thursday with the launch of JIFFY, a new online platform. The service has been introduced in Kolkata and will gradually expand across West Bengal, followed by Uttar Pradesh. At present, Spencer’s operates 89 stores across these regions.

According to Shashwat Goenka, chairman of Spencer’s Retail, the goal is to deliver orders within 20–30 minutes by utilizing the company’s existing store network. Instead of setting up dedicated dark stores, the company will rely on third-party delivery partners to handle logistics for now.

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“Convenience is driving consumer behavior, especially in urban areas. Quick commerce might still be a smaller part of the broader e-commerce sector, but it’s growing at the fastest pace. It’s a channel no retailer can afford to ignore,” said Goenka, who highlighted the changing preferences of shoppers in recent years.

He also noted that the rise of quick commerce has started to reshape modern retail, as more consumers prioritize speed and ease to fit their busy lifestyles. A CLSA report backs this trend, projecting that the gross order value of India’s quick commerce sector will rise from $6 billion today to $18 billion by FY27, with a further leap to $78 billion by FY34.

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Goenka revealed that Spencer’s aims to double its daily online orders within nine months through this new initiative. Currently, the online segment accounts for 10–11% of the company’s total revenue.

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