Retail Biggies Set To Bet On Store Openings As Covid Risks Reduce

25 May 2022, Mumbai:

Covid-subdued retail majors go big on new store openings. Open over 3000 new outlets in 2022 after a long lull caused by pandemic-driven given disruption.

Making the right moves, 3,206 outlets were added last fiscal by top retailer companies. 

Also read Apparel demand recovery exceeds pre-COVID levels, say industry leaders

A 25% jump is estimated to be seen in new store openings in 2022. 

Reliance Retail

Expanded close to 8M sq ft of operating space. 

DMart, Trent, Reliance Retail

All 3 saw the fastest store expansion in 5 years. 

Shoppers Stop

Plans to open 12-15 department stores.

Relevant News Retailers across India on an expansion drive as sales surpass pre-COVID levels

The listed retailer and quick service restaurant chains open over 3000 doors or about 9 new stores every day on an average in FY 22. 

The retail sector bouned back strongly in FY 22 on the back of rapid vaccinations, a sharp decline in cases, and higher footfalls at prominent malls and high streets. 

Companies also said the opening of new stores in FY 21 was affected by delays and runtime delivery of real estate.  

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CREDITS: ET Dt 25-05-2022 (The news article has not been edited by DFU Publications staff).