Business news: Reliance retail is now looking at smaller cities after entering the big cities. The company is planning to open Reliance Fresh and Grocery stores in Tier-III and Tier-4 cities. A senior official of the company has given this information.
- Reliance’s eyes for retail businesses are now on smaller cities
- Plans to open retail stores in Tier-III and Tier-4 cities
- Decision to open stores in small towns having population up to 75 thousand
- Retailers of small town can be sleepy
For the grosary retail, the company’s CEO Damodar Mal said that due to the increase in income and aspirations, people are fully prepared to adopt modern retail in small towns. He said, “We started advertising on television, which has created this atmosphere of modern retail in small towns.”
Reliance Retail operates 540 stores in three brand-Reliance Fresh (Convenience Stores), Reliance Smart (Hyper format stores) and Quick Mart (on petrol pumps).
In the third quarter ended December 2018, grosary contributed 17% in company earnings, 34% of connectivity business and 31% of consumer electronics.
The country’s largest retail group has decided to open stores in small towns having population up to 75 thousand. The goods said that Reliance Smart is an exclusive store, which attracts a lot of money in addition to the rich middle income consumers.
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