REGIONAL RETAILERS COME OF AGE

Regional retail chains are thriving despite onslaught from heftier national players.

- Ajita Shashidhar

SUPRIYA HEGDE HAS BEEN a regular at the iconic Bangalore Club for over a decade. The interior designer meets clients there, works out in the gym and, on her way out, even does a bit of grocery shopping at Ratnadeep Retail store on club premises. The Hyderabad-headquartered grocery chain, which set up a 6,000 sq.ft. store there a couple of years ago, is a favourite among club members.

Hegde is particularly fond of vegetables and fruits at the store. “They are fresh. I even like local masalas and pickles under their own brand.” Why does Hegde prefer Ratnadeep and not Reliance Smart or BigBasket, which offer attractive discounts? “I buy monthly groceries from BigBasket but for vegetables, dairy products or lasagne sheets, Ratnadeep or Namdhari are my go-to stores. They are wellstocked, sell fresh stuff and are close to my neighbourhood,” she says.

The $110 billion organised retail industry—12-15% of the overall retail pie—has been on a roll. It grew 25-30% in FY23 and is expected to touch $230 billion by 2030 with major growth coming from hinterland. That’s why retail biggies such as Reliance Retail, Aditya Birla Retail and Tata Group have made aggressive entry into the country’s interiors over past few years. But does this mean they are taking centre stage in regional markets too?