Retail store expansion in tier 2 cities and beyond accounted for around 64% of the new store launches in March, as per the data compiled by IndiaRetailing Insights, a retail intelligence unit.
The data revealed the number of store expansions in India remained the same with over 76 new stores opening in March 2024, a number similar to that in February 2024.
Store additions in January 2024 were over 62, a rise of around 29% compared to the previous month and over 76 stores in February, a rise of around 23% as compared to the previous month.
Region-wise
With 26 new stores opened in March in the region, North India has fared better than other parts of the country. It reported an increase of around 8% as compared to the previous month.
This was followed by West India, with 23 new stores as compared to the previous month. Contrary to the trend in the previous months, South India saw a drop of 40% in store additions with only 16 stores opening in the region compared to February 2024. However, East India has been witnessing consistent growth with store additions ranging between one and five every month.
This story is from the April 2024 edition of Images Retail.
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This story is from the April 2024 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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