It was just last year when I’d bought a Windows phone from Jumbo. Diwali was round the corner and people were busy in festive shopping. In fact I have purchased many big and small electronics goods from here. Jumbo Electronics is the biggest shop on third floor of TGIP. It opened long before Reliance Digital set its shop here. I have always found this place invariably drowned in lot of activity. Kids trying out new games at the XBox-PlayStation bay was a permanent fixture. Jumbo Electronics store today wears a deserted look. It no longer is the bustling retail store it used to be at the TGIP mall.
Did you notice?
The food court at the TGIP mall too is under massive renovation. There is a total takeover by branded food chains on the third floor of TGIP. McD, Burger King, Pizza Hut have a major presence. Chopaal, a very popular pocket friendly restaurant, stood it’s ground. While other local eateries at the food court seem to have bowed down to competition. High maintenance cost, escalating/high rentals and low footfall must have pushed them out of business. Jumbo Electronics too seemed to have met the same fate.
When we visited TGIP at the end of February I was quite taken aback by the forlorn look of the empty store and the staff. All the racks were empty mostly. Whatever was stacked on one side was put up for clearance sale with huge discounts and no return/exchange caveats.
JUMBO Electronics Leaving India for Good
JUMBO Electronics is the retail chain of Dubai group company. They are winding up business from India. Huge losses and competition from e-tailers has forced the company to pack bags and move back home. Jumbo will move out of India by March this year and is already in talks with Hotspot of Spice Mobility to sell its assets.
JUMBO has stores in National Capital Region, Mumbai, Pune, Lucknow, Ghaziabad and Bengaluru. It has already informed its staff to look for a change said the staff at the store. Though the salesboys seemed clueless as to why the big retail shop is shutting down. The business news paper ET cites the retail business will now focus in West Asia to turn profitable.
The brick and mortar retail business in Noida and India at large is presently dominated by Reliance Retail, Tata-owned Croma, Essar’s The Mobile Store and Spice retail. The business world is fast changing nowadays with the introduction of new disruptive business models of e-tailing et al. This fortifies my belief that – Change is the only constant.JUMBO Electronics shuts shop Retail chain group from Dubai leaving India for good http://bit.ly/2n4vMfF Click To Tweet