“The move has seen a positive impact on the business for METRO Cash and Carry in last 30 days. We took several initiatives in the first week to facilitate cashless payment options and to ensure there was optimal inventory of essential commodities at all our stores in Mumbai. In last 30 days, we saw a good jump of new customers who were earlier largely transacting in cash. The robustness of our business model is proven by the fact that we continue to serve our customers with maximum stock availability at the best possible prices, due to our strong supplier relationships. The variety of cashless payment options have also reaffirmed to our customers that METRO Cash and Carry can be relied upon to provide them with uninterrupted services and products at all times."
We continue to support government’s historic decision to clamp down on black money. A key advantage to our customers is the transparency of our transactions, which offers our small and large business customers a clear record of their expenditure and buying patterns. We will support our customers with any information they may need to understand the regulations and on-ground implications of this significant move.” - Arvind Mediratta, CEO and MD, METRO Cash and Carry India
