India First Edition

Essar Steel to issue loyalty cards to retail customers

A pioneering initiative in the steel retailing sector
Mumbai, August 29:Essar Steel has introduced a pioneering initiative to reward loyal customers who are regular visitors to Essar Steel Hypermarts, the company’s chain of steel retail outlets.

In a strategy that is unique in the steel retailing sector, Essar Steel will issue a membership card, branded “24 Carat Bandhan”, to select customers, entitling them to privileges and benefits.

The membership card will carry a unique customer number, with 500 Bandhan points credited to the customer’s account as a start-up privilege. Every time the customer buys steel, he will earn points on the purchase. An SMS will be sent to the customer within 24 hours updating him on the points earned. The customer will also receive a monthly statement on accumulated Bandhan points that can be redeemed for attractive gifts.

“24 Carat Bandhan” members will also be eligible for need-based credit facility on their steel purchases through tie-ups with banks and financial institutions.

Essar Steel has set up India’s only retail chain for steel products under the brand name Essar Steel Hypermart. It has a network of over 80 outlets selling hot rolled, cold rolled and galvanized steel products in various sizes to small- and medium-scale enterprises across the country.
The outlets are conveniently located in the major industrial towns of Gujarat, Maharashtra, Madhya Pradesh, Delhi, Haryana, Tamil Nadu, Andhra Pradesh, Goa, Punjab, Jammu & Kashmir, Himachal Pradesh, Chattisgarh and Kerala. With plans to unveil outlets across more states, the Hypermarts have a strong pan-India presence. Sales from the Hypermarts currently account for 15-20 percent of Essar Steel’s annual revenues.