Retail store expansion picked up momentum in February with the number of store openings rising by 23% to over 76 new stores, including shop-in-shops compared to the previous month, as per the data compiled by IndiaRetailing Insights, a retail intelligence unit. This has been the highest number of store additions in the last three months with December witnessing over 48 new stores and January seeing 62.
Region-wise
Like the previous two months, North India fared better than the rest of India in February as well with 24 new stores followed by South and West with 23 stores each. New stores in the East remained in the range of 1-5, although the retail scene in the North East steadily heated up.
The newly-opened stores are in Surat, Bengaluru, Hyderabad, Noida, Kozhikode, Kolkata, New Delhi, Jodhpur, Murthal, Vashi, Pune, Latur, Nashik, Mumbai, Gurugram, Visakhapatnam, Jaipur, Guwahati, Ahmedabad and Lakhimpur.
Geographically, Bengaluru led the numbers with almost 12 new stores followed by Mumbai with nine, Delhi with eight, Pune and Hyderabad with seven each and the Delhi-NCR region with six new stores.
Active brands
This story is from the March 2024 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2024 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
How can Brands Delight Customers?
A look at strategies to bring customers back and turn them into potential brand advocates
Smaaash Mulls VR-only Arcades in Future
Avanish Agarwal, Consulting CMO, Smaaash sheds light on business, expansion plans and more
Meesho is Built Upon the Bedrock of Technology
Nilesh Gupta, General Manager, Growth at Meesho shares his insights on the growth factors, technology and relevance of the brand in tier 2 cities and beyond
High Streets Emerge Top Leasing Choice for Luxury Brands in 2023, Malls Remain Second
Malls remain the second most preferred luxury realty category, with 300% Y-o-Y growth with high streets lead with about 45% share in India’s overall luxury retail leasing in 2023
Special Events in Malls
Nexus Select Citywalk and Kiran Nadar Museum of Art (KNMA) organised the collaborative exhibition, ‘The Art Maze; from March 24 to March 31, 2024. Inspired by the works of prominent Indian artists - Lakshman Pai, Raja Ravi Verma, Jamini Roy, SH Raza, and Vivan Sundram; The Art Maze aimed to portray an immersive journey into the world of artistic expression for the participants anve d visitors.
CRA Realtors: Inspiring Trust
CRA Realtors boasts about 70% repeat customers, which speaks volumes about the trust the real estate agency has inspired over more than 18 years of existence
Why South India is Witnessing Renewed Retail Surge a
Industry leaders on the factors propelling retail growth in South India and their projections for future expansion metrics in the region
Tier 2 Cities Lead with 64% of March Store Launches
About 48 of all the new stores opened in March 2024 were in non-metros
5 Top Indian Jewellery Brands with the Strongest Retail Footprint
These homegrown jewellery retail gems have been instrumental in shaping the country’s jewellery sector and continue to shine bright amidst stiff competition on the global stage
Demand for Lab-grown Diamonds to Double by 2030. Here's Why
Exploring the different facets of this emerging segment that is increasingly attracting retailers, investors and consumers to it