Reliance Retail Surpassed Billion Transactions and Reached 249 Million Customer Base, says Latest Reports
Based on Reliance Industries' most recent annual report, Reliance Retail exceeded a billion transactions in FY23, and its registered customer base reached 249 million. Reliance Retail's digital commerce and new commerce businesses contributed 18% of its total revenue of Rs 2.60 lakh crore in FY23. The company added 3,300 new stores, bringing the total number of stores to 18,040 with a total area of 65.6 million square feet, and intends to "continue to expand reach into Tier 2 and 3 markets through store network expansion."
"In fiscal year 2022-23, the company exceeded 1 billion transactions, an increase of 42% year on year." Footfalls in stores exceeded 780 million, an increase of 50% year on year," said company reports.
Furthermore, Reliance Retail, which has seen "unprecedented growth in retail footprint," is investing in its retail business's backend warehousing and logistics assets.
"Investments in boosting supply chain infrastructure remained a priority to deepen warehousing and fulfilment capabilities, with the addition of 12.6 million sq ft of warehouse space during the year," the company said.
Furthermore, Reliance Retail, which entered the FMCG market by relaunching the iconic beverage brand Campa and its own brand 'Independence,' intends to expand. Its beauty division also launched the 'Tira' digital commerce platform and opened a flagship store in Mumbai.
"These businesses will be ramped up progressively in the coming period," according to the annual report.
The business also expanded its product basket through acquisitions and partnerships at both local and global levels like Metro, Campa Cola, GAP, Pret A Manger, Lotus, Sosyo, Maliban and Toffeeman.