Despite facing one of the most difficult economic times the retail sector, Massy Stores remains confident in the future of the country’s economy, says Derek Winford, CEO, Massy Stores.
“This is one of the most difficult times in retail, as a matter of fact in the whole country, I have been in retail for over 25 years and I am telling you that the times that we are seeing today is the toughest times that we have seen. Even going back to the financial crisis in the United States, we are in really tough financial times,” he said.
Winford spoke yesterday at the opening of its 19th store in T&T in Mandalay, Tumpuna Road, Arima, near the Larry Gomes Stadium.
He called the newest store, which occupies 19,000 square feet, a “huge investment” but declined to give the figure of how much it cost to build and to outfit the store.
“We have confidence in the future of T&T. We have confidence in Arima. We have confidence in the economy. Here we are making such a huge investment when things are as bad as they could ever be.”
He also dismissed as “fake news” reports that Massy Stores had the highest prices in the supermarket industry.
“We have a Dollar Stretcher and on that, you will find the lowest prices possible. We have deals that you will not see any part of the world. It is called ‘extreme deals.’ When people tell you the competition is cheaper, it is fake news. Massy Stores is about the first or second cheapest supermarket in T&T. That is the truth. Anything that anybody tells you about high prices, because of the state of the economy, because of the perception that we have, it is fake news.”
He added that they are bringing the best in service to this latest branch.
“It is the first time, that we have been able to bring all this, our latest formats to Arima. We have delivered in Trincity, we have delivered it in Marabella, we have delivered it in Gulf, we have delivered it in St Ann’s, we have delivered it in Glencoe but it is the first time we are bringing it to Arima. It is the third store in Arima. A beautiful ambience, wide aisles, cleanliness, quality, excellent customer service. When we put on a scale this is two kilogrammes or 5.5 pounds, that is exactly what the scale said. Our value deals with honesty and integrity.”
He also said that Massy Stores will continue its Corporate Social Responsibility projects like recycling.
“The plastic bag initiative that we have, a lot of our customers got upset with us for charging 50 cents for a bag. 50 cents is a penalty, I do not want anybody to pay 50 cents for a bag. So use the reusable bag and save the environment,” he said.