Stay updated with breaking news from Reliance stores. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Chinese smartphone firms are increasingly relying on Reliance Retail s distribution arm to reach stores in the hinterlands due to a slowdown in online sales. Xiaomi s sub-brand Poco has forged a strategic partnership with Jio Mart Digital to distribute its devices to around 80,000 retail stores across the country. This comes as offline retail channels accounted for 61% of sales in the first quarter of 2024, up from 56% in the previous three-month period. Xiaomi and Transsion saw the fastest growth in the quarter to March. ....
The interim budget for FY25, which will be presented on February 1 after the Lok Sabha elections, is likely to stay on the fiscal course-correction glide path and avoid populist spending. However, the retail industry s message of slowing consumption cannot be ignored. India s top retailers have slowed down their store expansion this fiscal year due to a sharper focus on profitability and lower-than-expected consumption levels. Retail sales have also been affected, with a growth of only 7% in October and November 2023 compared to the same period in 2022. The budget should focus on generating demand and spurring consumption by offering tax benefits and relief to individual taxpayers. ....
Budget 2024: The interim budget for FY25, which will be presented on February 1 after the Lok Sabha elections, is likely to stay on the fiscal course-correction glide path and avoid populist spending. However, the retail industry s message of slowing consumption cannot be ignored. India s top retailers have slowed down their store expansion this fiscal year due to a sharper focus on profitability and lower-than-expected consumption levels. Retail sales have also been affected, with a growth of only 7% in October and November 2023 compared to the same period in 2022. The budget should focus on generating demand and spurring consumption by offering tax benefits and relief to individual taxpayers. ....
Reliance Retail: Reliance is going to start expansion of the business which will continue to run under the Metro brand name for a couple of years under the deal. It has opened a new store in Patiala, will convert a few of its existing dark stores for new and e-commerce into such outlets, and organically build some newer ones with plans to open 40 such new stores in the next few months, the executives said. ....