Besides the expansion of physical stores, the Isha Ambani-led company is also taking a lot of steps to strengthen its digital commerce and new commerce businesses
Isha Ambani-led Reliance Retail has crossed a billion transaction benchmark in FY23, which is a significant milestone. It is to be noted that Reliance Retail is subsidiary of Reliance Industries, which is led by Mukesh Ambani. Reliance Industries said in its annual report on Sunday (August 6) that the Reliance Retail has succeeded in crossing the billion transaction milestone because of its solid user base which has now reached 249 million.
Reliance Retail has added 3,300 new stores in FY23 alone and the total number of stores has now jumped to 18,040. Notably, Reliance Retail’s stores are not limited to urban areas only as the company is expanding its business in Tier II and Tier III markets as well.
"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," said Reliance Industries' annual report.
Besides the expansion of physical stores, the Isha Ambani-led company is also taking a lot of steps to strengthen its digital commerce and new commerce businesses. "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 deal with several brands like Metro, Campa Cola, GAP, Pret A Manger, Lotus, Sosyo, Maliban and Toffeeman to expand its product basket. According to the annual report, Reliance Retail has adopted best technology for driving operational efficiencies. It is using "Artificial Intelligence/Machine Learning driven decision-making models help in improving customer experience," it said.
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 "Mukesh Ambani, Isha Ambani’s Reliance Retail achieves significant milestone of billion transactions")
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