In the world full of Walmarts and 7-elevens, grocery shops were our go-to place for buying everyday essentials. This has changed a lot with the evolutions of supermarkets in India to the extent where D-mart and Big Bazaar became a household name. The retail industry in India did witness a phenomenal growth, but overall, still traditional retailing takes a major stake in comparison to modern retailing. This only means that there is more and more scope of supermarket chains expanding!
The unexpected turn!
Retail as a business has always been constantly evolving and expanding. However, just like several other industries, it suffered a severe blow due to the coronavirus pandemic. Where many consumers started buying daily essentials online. Stocking shelves by purchasing from the next-door grocery store became a thing. People who before used to travel to buy their entire month’s essentials from a supermarket now opted for the grocery shop nearest to them. Things were difficult for modern retailers but not for long.
What’s happening in supermarkets now?
The supermarkets witnessed a steady and consistent growth after the lockdown. As people started coming out, they went back to their old shopping habits. Also, not to forget the several offers that tempted them even more as the big chains wanted to sell their stocked products immediately. The inventory was overdue for months and sales were a need of the hour. While several small supermarkets suffered losses and found survival difficult, the corporate giants saw an opportunity.
With a recovery post-pandemic, supermarket chains are observed expanding at an aggressive pace. The supermarkets in India have a huge scope of expanding as most of the market is yet untapped. The spree has already begun with More Retail and Reliance Retail are scouting hundreds of properties for their expansion.
The future of supermarkets- What to expect?
With an aggressive expansion plan, the modern retail industry might render the Kirana stores obsolete. Having an obvious edge when it comes to offering the same products at a better price point, modern retail companies are having a more omnichannel approach. By integrating all the possible methods, one opts for while shopping, they are bound to be preferred as the chosen one. While offering everything online and also opening hyper-local stores the supermarket chains are not leaving any stone unturned.