A recent survey by Brand Equity has revealed the names of the top 10 retailers of 2016. The list was created on the basis of sales derived, social media presence and media visibility of the brands.
Brand Equity along with the research team at Nielsen has named these retailers as India’s top 10 in the year 2016:
11 Big Bazaar
With 200 plus stores present across India, Big Bazaar has a strong appeal for the urban middle-class. Over the last few years, Future retail has been transforming into a connected commerce company with multiple strategies and changes, one of the changes being moving companies – including Big Bazaar- onto digital platforms.
In November 2015, the company introduced Big Bazaar GenNxt stores in Noida and Mumbai. The stores integrate superior shopping experiences with innovations such as interactive digital screens, sit-down checkouts and smart customer service. Ordinary Big Bazaar stores too offer a slew of convenient services including home delivery.
“Soon, the stores will sport smart trial rooms and endless aisles or kiosks wherein the customer can order from a larger range of merchandise, which may not be stocked within the store. Our stores are also turning into fulfillment centers,” Group Chief Executive Officer of Future Group, Kishore Biyani had told investors in the company’s annual report (2015-2016).
Big Bazaar Direct (BBD), the virtual franchisee concept of Future Group-owned Big Bazaar is also betting big on franchising business model. It has set an ambitious target of 50,000 franchisees over the next four years.
Reliance Retail, which operates a chain of convenience stores, supermarkets, wholesale cash-and-carry and specialty stores, is India’s largest retailer by revenues as well as footprint. The company operates Reliance Trends in the apparel segment while it runs Reliance Fresh, Reliance Smart and Reliance Market in the grocery business.
In FY 2015-16, the company has added 624 new stores taking its total stores to 3,245 stores, spread over 12.8 million square feet and it is currently operating 3,383 stores. “Reliance Fresh” has consistently appeared in the list of most trusted national brands.
According to the company, the e-tailing segment is on a high growth curve and Reliance Retail is well prepared to participate in this growing channel.
“The era of ‘Digital India’ is taking shape as the ecosystem around data security, device and bandwidth availability, digitisation of wallets, content availability and more continues to improve. This is paving the way for a large number of customers to get a first-hand experience of online shopping. The e-tailing segment is on a high growth curve and Reliance Retail is well prepared to participate in this growing channel,” a company report stated in August 2016.
Fashion Retail: Reliance entered the online fashion retail business in April through AJIO.com, targeting shoppers with high-margin, curated fashion. The company has opened AJIO ‘shop-in-shops’ in more than 100 Reliance Trends stores as part of its Omnichannel strategy, an initiative on which the retailer is working aggressively.
With multi-channel initiatives for grocery and apparel under its belt, Reliance Retail says that it will extend its reach to cover the entire country much beyond the 500 towns where its physical stores are operational. The opportunity of integrating an ‘offline-online’ model would truly differentiate the customer experience.