Focus on smaller towns is driving grocery business growth: Isha Ambani

Isha Ambani on Reliance Retail: Isha Ambani, Director of Reliance Retail Ventures Limited, addressed the shareholders in the 47th Annual General Meeting of Reliance Industries, sharing that the growth of the grocery business is being driven by expanding to small-town markets where the retail major is opening its maximum stores. 

“In grocery, we are not only the largest but also one of the fastest-growing retailers, expanding at 2.5 times the rate of the rest of modern trade. Our growth is driven by our focus on smaller towns, where over two-thirds of our new stores are opening,” Isha Ambani said. 

Ambani also underlined that Reliance Retail is the first modern retailer to build a presence in these small-town markets meanwhile it is also focusing on expanding its premium formats such as Fresh Signature and Freshpik, in large cities to improve consumer experience. 

“Our impact extends beyond just retail. We work closely with thousands of small and medium vendors, regional brands, and new-age start-ups, providing them a platform to grow and scale with Indian consumers. This creates opportunities for small entrepreneurs to showcase their products and expand their reach,” added Ambani. 

Isha also shared a series of examples that included Mukharochak Chanachur, a speciality from Kolkata, Laxmi Narayan Chiwda from Pune, YogaBar, Soulfull, Mamaearth, and Storia which have expanded their reach to the entire country by collaborating with Reliance Retail. 

Isha Ambani maintained that the new offerings and expanding reach of the company will add to its market presence and overall profitability. 

For the Financial Year 2024, the company recorded over a billion footfalls across its stores and facilitated more than 1.25 billion transactions across its various channels. 

The registered customer base for Reliance Retail has also surpassed 300 million. Isha Ambani also shared that the retail major has opened 1,840 new stores, taking the total number of stores in the country to 18,836 stores.