Demand improvement visible in retail; uptick in sentiment too

After months of slowdown, consumer sentiment is showing an uptick, Kavindra Mishra, MD & CEO of Shoppers Stop, tells Viveat Susan Pinto.

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After months of slowdown, consumer sentiment is showing an uptick, Kavindra Mishra, MD & CEO of Shoppers Stop, tells Viveat Susan Pinto. The retailer narrowed losses in Q1, improved EBITDA margins to 14.7% from 13.4% last year and saw a nearly 9% revenue growth during the April-June quarter.

Mishra throws light on the company's retail strategy for FY26 and capital expenditure plans. Excerpts:

What worked for you in the June quarter and do you see this momentum lasting through the year?

There is a demand improvement that is visible today in retail. We certainly saw an uptick in sentiment in May and June, led by the wedding season. The momentum has continued into July too and we hope to see this continue into August and September as the festive season sets in. Consumers are also becoming more discerning and are willing to spend more if the product meets their aspirations. In a crowded marketplace, premiumisation allows retailers such as us to stand out.

What are you precisely doing in the premium space?