The Business Bytes
TBB BUREAU
MUMBAI/BHUBANESWAR, JULY 23, 2022
Despite cautious sentiments due to inflation-led strong macroeconomic headwinds, Reliance Retail delivered strong growth during the quarter on the back of its robust supply chain infrastructure, efficient sourcing and unmatched customer experience.
The business continued to strengthen its infrastructure and consumer proposition by building new warehousing facilities, expanding the store network as well as increasing the reach of its digital platforms. During the quarter, the business added 792 new stores to reach new geographies and enhance its omni-channel model. The business also opened 79 new Warehousing facilities and fulfilment centres created to support the growing customer demand. For the grocery segment alone the supply chain was strengthened with 33 new facilities including 4 cold chain facilities.
The cost efficiencies emerging from these initiatives helped the business to shield consumers from any severe impact of the high inflation witnessed during the quarter.
Highlighting the retail business while commenting on the company’s quarterly results, Reliance Industries Limited Chairman and Managing Director Mukesh D. Ambani said, “In retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers. Our strong supply chain infrastructure and sourcing efficiency is helping us maintain competitive pricing for daily essentials, thereby insulating consumers from inflationary pressures.”
With wider choice at competitive pricing and a stronger consumer proposition, the business recorded over 220 million transactions in the first quarter and its registered customer base reached 208 million, up 29% YoY. To cater to the increasing customer base, the retail business generated 17000 additional jobs during the quarter and now has 379000 employees leading Reliance Retail’s unmatched customer experience.
