Key Points
A dozen top-listed retailers and quick-service restaurant (QSR) chains saw the slowest pace of store expansions in at least five years at 9%, reflecting tapering demand for discretionary and lifestyle products last fiscal..
As of March 31, these companies, including Reliance Retail, Aditya Birla Fashion & Retail, DMart, Tata's Trent, Titan Co and Starbucks together had 33,219 stores, data sourced from their latest investor presentations showed..
These companies added 2,700 stores - on average about 7 a day - to their network during the last fiscal year, but that's nearly half compared to 13 doors each day in FY23..
Retail sales growth rate fell year-on-year every month in the previous fiscal, reflecting weak consumer sentiment across segments such as apparel, footwear and quick service restaurants (QSR)..
The previous fiscal's comparatively slower 4-7% growth rate sustained this year as well, with April seeing a 4% rise, the Retailers Association of India (RAI) said after a survey of top 100 retailers...
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Retailers go easy on expansion as slowing consumption bites
23, Jan, 24India's top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets. Jefferies reported that Reliance Retail has reduced retail business capex and store additions have decreased.