1. News
January 21, 2020

India’s Reliance Retail plans to open small grocery stores

Indian company Reliance Retail has reportedly revealed plans to develop a network of small grocery stores in the country.

Indian company Reliance Retail has reportedly revealed plans to develop a network of small grocery stores in the country.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

According to The Economic Times, the move is part of Reliance’s omnichannel venture and will support its last-mile delivery of food and grocery. The store concept takes just 45 days from conceptualisation to launch.

Two people familiar with the matter suggested to the publication that the company is considering launching thousands of small stores.

To be named as Reliance Smart Points, the grocery stores will occupy space between 500ft² and 1,500ft² each.

The stores will be located in a number of cities across the country, with most in north India.

Reliance is planning to open over 100 such stores each in Delhi and Mumbai in the coming months, reported the publication.

One of the persons familiar with the matter was quoted as saying: “They are looking for not-so-prime properties with lower rentals.

“It is a grocery concept that will be used for hyper-local delivery and consumers can also order online and pick up from those stores.”

Earlier this month, Reliance Industries launched a new service that aims to compete with Amazon and Flipkart in India.

Named as JioMart, the grocery delivery platform was started on 31 December by Reliance Retail and Reliance Jio.

Reliance has already rolled out some outlets in Navi Mumbai, Thane and Kalyan to pilot the concept.

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.