Reliance Retail: Reliance Retail is expanding rapidly, making new items available in grocery stores, increasing focus on local sales:

Reliance Retail: Reliance Retail is expanding rapidly, making new items available in grocery stores, increasing focus on local sales

Business

Desk 2024-09-16 15:07:00

Reliance Retail: Reliance Retail, the country's largest retail company, has increased the trade area of non-food and general goods in its grocery stores by about 50 percent to improve margins. An industry insider said that with this move, the company wants to promote local sales through its e-commerce platform JioMart. The retailer is connecting its Smart and Smart Bazaar stores through JioMart, giving more variety to consumers.

Making changes in the store

Under the new initiative, Reliance Retail is now revamping its stores and allocating more trade area to non-food and general merchandise, a segment that offers higher margins than other segments like grocery and apparel.

what is the plan next

Reliance Retail's profit before tax (EBITDA) margin from operations was 8.2 percent in the latest June quarter, up 0.3 percent year-on-year. Its EBITDA margin in FY23-24 was 8.5 percent, improving 0.7 percent year-on-year.

Reliance Retail aims to double its business in the next 3-4 years. The company is also trying to improve its margins.

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