Besides the enlargement of bodily shops, the Isha Ambani-led firm can also be taking loads of steps to strengthen its digital commerce and new commerce companies
Isha Ambani-led Reliance Retail has crossed a billion transaction benchmark in FY23, which is a significant milestone. It is to be famous that Reliance Retail is subsidiary of Reliance Industries, which is led by Mukesh Ambani. Reliance Industries stated in its annual report on Sunday (August 6) that the Reliance Retail has succeeded in crossing the billion transaction milestone as a result of of its strong consumer base which has now reached 249 million.
Reliance Retail has added 3,300 new shops in FY23 alone and the whole quantity of shops has now jumped to 18,040. Notably, Reliance Retail’s shops aren’t restricted to city areas solely as the corporate is increasing its enterprise in Tier II and Tier III markets as nicely.
“The business crossed the milestone of 1 billion transactions in FY 2022-23, up 42 per cent Y-o-Y. Stores recorded footfalls of over 780 million, which were up 50 per cent Y-o-Y,” stated Reliance Industries’ annual report.
Besides the enlargement of bodily shops, the Isha Ambani-led firm can also be taking loads of steps to strengthen its digital commerce and new commerce companies. “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,” added the annual report.
Reliance Retail has acquired and entered into cope with a number of manufacturers like Metro, Campa Cola, GAP, Pret A Manger, Lotus, Sosyo, Maliban and Toffeeman to develop its product basket. According to the annual report, Reliance Retail has adopted finest know-how for driving operational efficiencies. It is utilizing “Artificial Intelligence/Machine Learning driven decision-making models help in improving customer experience,” it stated.
