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<ul><li>Brick and mortar retail to grow at 14-16% this fiscal, driven by continued expansion across segments – food, grocery, apparel and consumer durables, says a <keyword id="6359483" type="General" weightage="80" keywordseo="crisil" source="Orion">CRISIL</keyword> report. </li><li>Retailers’ capex is expected to go up by 8-10% this year, led by apparel segment. </li><li>These store additions will drive revenue growth of 18-20% this fiscal year, the report says. </li><li>Retailers are planning small format stores in tier 2, 3 and 4 cities. </li></ul>In just two years of almost losing the battle to e-commerce players and the pandemic, physical retailers in India are making a spectacular comeback. One of India’s largest retailers <keyword id="2407038" type="General" weightage="50" keywordseo="dmart" source="Orion">DMart</keyword> has added 50 new stores last year – it’s highest ever. Many more retailers are hitting the historic store-addition highs. For instance <keyword id="158137" type="General" weightage="50" keywordseo="domino" source="Orion">Domino</keyword>’s, run by <keyword id="95677" type="General" weightage="50" keywordseo="jubilant-foodworks" source="Orion">Jubilant FoodWorks</keyword> in India, opened 58 new stores across 12 cities in the first quarter of this year. At least ten top retailers have said that they are looking at rapid expansion. “Brick-and-mortar retail to grow at 14-16% this fiscal, driven by continued expansion across segments – food, grocery, apparel and consumer durables – and return to normalcy from the Covid-19 pandemic,” said a research report by CRISIL. In the last fiscal, store expansion was higher at 21%, the report noted. These store additions will drive revenue growth of 18-20% this fiscal year and the full impact of the expansion will be seen in the next few years. The investments by retailers are expected to go up by 8-10% this year, with the apparel segment expected to lead this growth. “Companies stated that a strong recovery was witnessed during the (first) quarter on the back of improved footfalls and receding impact of Covid. As a result, companies are now resuming with their store expansion plans,” said a report by Motilal Oswal. CRISIL also said that the credit metrics of retailers support their expansion plans. “The credit ratio moderated in FY21 reflecting pandemic impact. Waning of pandemic-related disruptions resulted in sharp recovery in FY22,” it said. Brick-and-mortar expands online too However, not all their expanded investments will go into physical stores, as most of them are keen on providing a hybrid experience. Brick-and-mortar retailers are growing their online presence with apps, warehouses and more – likely fuelling growth in e-retailing as well. Last year, e-retailing grew at 26%, and this year, it’s poised to grow anywhere between 27-32%, according to CRISIL. The rating agency also said that omnichannel strategy will be the way forward as lower footfalls in stores can be compensated by higher online sales. Retail footfalls are still at 85-90% of their pre-pandemic levels . “Stores can display limited inventory. Hence, an omnichannel is a must,” the report said. Retailers will tend to push last-season merchandise online at higher discounts. Table: Expansion plans of top retailers <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retailer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Store additions/ other growth plans </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plans to add 135 stores by March 2024 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Fashion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Already added 7 stores in July. Plans to add over 70 stores in FY23. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plans to add 35-40 Tanishq stores in FY23 if they find suitable properties. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">V-Mart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plans to add over 60 stores in FY23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Westlife Development </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Has 12 McDonald stores under construction and on-track to add 35-40 in FY23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Devyani International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target is to add over 100 KFCs and Pizza Huts each, and over 40 Costa Coffees in FY23. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant Brands Asia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plans to have 390 Burger Kings in India by FY23 – effectively adding over 100 stores </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Barbeque Nation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Added 10 outlets so far and on track to add 35-40 outlets this year. Will also add 5 Toscano stores this year. Plans to launch a delivery-only Biryani brand, this year </td></tr></tbody></table> Source: Motilal Oswal research report Focus on franchising, tier II, III &amp; IV cities Retailers are also pivoting to franchising, though they will earn around 5% less profit from such stores. “Retailers are willing to part with that owing to lower risk and disproportionate gain from increasing brand awareness,” the CRISIL report said. Major store additions are also planned in tier II, III and IV cities, where retail penetration is lower than the national average that stands at 0.8 stores per million people. “Different store formats are being adopted in tier II and tier III cities. Usually, the store size is much smaller. Favourable rental costs, higher demand from private labels make tier II and tier III cities more attractive for driving sustainable growth,” the CRISIL report said, quoting excerpts from a webinar with retailers. 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Brick and mortar retailers are growing and fuelling e-retail growth too

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore in Q1FY21.</li><li>DMart’s high number of stores meant the company had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. </li><li>For <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, another big challenge is on the cards – If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. </li></ul>Radhakishan Damani, the owner ⁠— with a net worth of $15.6 billion, according to Forbes ⁠— of Avenue Supermarts, which operates the DMart chain of retail stores is watching a dream run come to a near standstill. For the first quarter of the current financial year, DMart’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore. DMart’s share price reflected the investors’ disappointment with a 4% fall on Monday (July 13). While DMart said that the company is less anxious now than it was during April 2020, analysts say the causes of worry are only beginning. The biggest of them is a challenge from Asia’s richest man, Mukesh Ambani. Higher costs at stores while customers head to kiranas One of Damani’s biggest advantages was the presence of DMart in Tier-II cities, reaching out to a larger market. But analysts at HDFC Securities believe that this very strength has turned into its weakness. “Higher exposure to some of the most impacted Indian districts and store closures in Apr (50% of network closed in Apr) manifested into a severe footfall loss, ergo revenue loss for D-MART,” said the report. DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. The higher number of stores also meant DMart had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. DMart too acknowledged that ‘organized retail’ failed to mark during the lockdown as local kirana stores <a href="https://www.businessinsider.in/retail/news/jiomart-dunzo-swiggy-and-likes-want-to-ride-the-trust-earned-by-indias-kirana-stores-during-the-lockdown/articleshow/76826479.cms">came to the rescue.</a> The company said customers didn’t put ‘value’ as a priority during lockdown. “There is also a sales channel of traditional trade which is smart, agile and resourceful. India still has a strong and resilient network of small shops and neighbourhood stores. They came roaring back after the first 2 or 3 weeks of lockdown serving the needs of an anxious customer the way the customer wanted it - quickly over the counter or through home deliveries,” said the company in a regulatory filing. A bigger challenge if Reliance and Future Retail join hands DMart’s rise was credited to its ability to outbid kirana stores with heavy discounts powered by smart sourcing and it wooed middle class indians into organised retail. But now the question is – can he beat someone with deep pockets like Mukesh Ambani? If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. Reliance is reportedly close to closing the deal with Kishore Biyani’s Future Retail, as the corporate giant is doubling down investments in the Indian retail sector with its own venture JioMart. <div type="image" title="mukesh ambani" msid="76937031" hostid="261"></div> Ambani is already into grocery retail but bagging Big Bazaar would give him an unprecedented reach and market share that would be difficult to beat. So far, the Future Group <a href="https://www.businessinsider.in/business/news/future-retail-share-price-jumps-because-of-a-possible-investment-from-mukesh-ambani-reliance-premji-or-samara/articleshow/76460606.cms">with a big bag of debt</a>, has not been much of a competitor even though it had a headstart over DMart and ten times the number of stores. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of stores </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">214 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10901 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6700 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Big Bazaar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400 </td></tr></tbody></table> Uncertainty with lockdowns Even as he prepares for the Ambani challenge, DMart may be bracing for another troubled quarter. Several of the states in which DMart is operational – Tamil Nadu, Maharashtra, Karnataka, have once again enforced strict lockdowns. As the latest earnings show, despite keeping stores open 24*7 since April 1⁠— and tying up with housing societies and taking in orders through WhatsApp ⁠and delivering them at home— the volumes have tumbled and profits have shrunk severely. <div type="image" title="dmart revenue (1)." msid="76937002" hostid="261"></div> <div type="image" title="dmart profits (1)." msid="76937010" hostid="261"></div> “Discretionary consumption continues to be under pressure, especially in the Non-FMCG categories. This is impacting gross margins negatively. Store operations and duration of operation per day continues to remain inconsistent across cities due to strict lockdowns enforced by local authorities from time to time. In addition, in certain cities authorities are once again insisting on selling only essential products. Hence our future revenues continue to remain uncertain,” said the company.

Radhakishan Damani has a string of challenges ahead of him and falling profits at DMart don’t help

<ul><li>Quick commerce platforms like <keyword id="3275685" type="General" weightage="20" keywordseo="dunzo" source="Orion">Dunzo</keyword>, <keyword id="12437554" type="General" weightage="20" keywordseo="zepto" source="Orion">Zepto</keyword>, Blinkit are getting ahead of the retail stores in terms of fast delivery at your convenience.</li><li>Grocery shopping in India’s major cities is set to undergo a never-seen-before tec(h)tonic shift led by quick commerce platforms, says a report.</li><li>Meanwhile, <keyword id="2407038" type="General" weightage="20" keywordseo="dmart" source="Orion">DMart</keyword> is still aggressively opening stores in parts of the country to get back to pre-covid levels.</li></ul>The stores are coming to the consumers – figuratively. The local kirana store or India’s largest retail chain, all of them are keen on getting a piece of the <keyword id="1410674" type="General" weightage="20" keywordseo="online-grocery-delivery" source="Orion">online grocery delivery</keyword> market. DMart, for instance, has set up its app and pick-up centers for home delivery after handling its bulk delivery orders during the pandemic. Reliance Retail too stepped into this delivery business with its app, <keyword id="8506093" type="General" weightage="20" keywordseo="jiomart" source="Orion">JioMart</keyword> with little success, though it has also invested in Dunzo. Time does matter When it comes to the delivery market, it’s not about what you deliver, how you deliver but it’s all about ‘when’ you deliver. Most of the online <keyword id="2709620" type="General" weightage="20" keywordseo="grocery-delivery" source="Orion">grocery delivery</keyword> hinges on timing which is why quick commerce companies are walking away with a lion’s share of the pie. “Grocery shopping in India’s major cities is set to undergo a never-seen-before tec(h)tonic shift led by quick commerce platforms,” said a report by JM Financial. Online grocery market has two segments -- quick commerce and scheduled e-grocery. Only Jiomart, Bigbasket and DMart are scheduled e-grocery stores, all the other platforms are in a race of quick delivery business. And the segment seems to be ruled by the ‘10-30-minute delivery’ offered by platforms like <keyword id="6358977" type="General" weightage="20" keywordseo="swiggy" source="Orion">Swiggy</keyword>, Blinkit, Zepto and Dunzo. Most of the retail chains who intend to deliver groceries however have a one-day lag period between order and delivery. Added to that, quick commerce platforms are addressing multiple consumer pain-points such as convenience, speed, curated assortment, value, and round-the clock standardized services. Online food ordering business is <a href="https://www.businessinsider.in/retail/news/grocery-business-is-like-poison-pill-for-zomato-after-failing-miserably-two-times-as-per-analysts/articleshow/92202068.cms">aiding growth in the e-grocery as well</a>. Customers who order food online for convenience, wider selection, discounts and standardized customer support are also likely to be more amenable to ordering grocery items online for the very same reasons. This opens up cross-sell opportunities for food-techs like Swiggy and Blinkit, which is merging with Zomato. Paan to curds - quick commerce delivers it all A February 2022 Survey by LocalCircles indicates that 71% of the households used q-commerce platforms to either order daily use items such as milk, bread, eggs, curd, fruits and vegetables, etc. They also ordered indulgence items such as soft drinks, ice creams, chocolates and paan. Though, only 29% of the surveyed households used q-commerce for ‘all their grocery’ purchases. For the bulk purchases however, the large format stores are still in the running as people are going to the stores. DMart is still aggressively opening stores in parts of the country to get back to pre-covid levels. “We believe it will look to accelerate store expansion and the benefit of recent expansion is yet to fully kick in – revenue intensity is lower than pre-Covid levels,” said analysts at ICICI Securities post its March quarter earnings. Redseer estimates the grocery market size in India was worth $620 billion in 2021, which is expected to grow at a CAGR of 8% over the next four years to reach over $850 billion by 2025. Quick commerce is all set for the long haul Quick commerce players are also vying for a bigger piece of the entire pie. The quick ordering might start with fresher foods like fruits and vegetables, meat, dairy and other ready-to-cook items; and also indulgence categories like chocolates, biscuits, snacking items, cold drinks, and tobacco. But it could extend to others too. “We also expect grocery staples, cooking essentials, medicines, baby and personal care, home care and pet care, amongst others, to pick up as consumers become more habituated to ordering through the platforms,” said the JM Financial report. Recently, Swiggy raised $700 million for quick-commerce grocery service Instamart. Zomato poured $150 million into quick commerce startup Blinkit. Zepto raised $200 million and lastly Reliance Industries also caught the quick commerce train by investing $200 million in Dunzo. This also means that competitive intensity is likely to be severe in the near term, between them and also with the big retailers. “Only those platforms that have very strong customer recall, robust back-end supply chain and/or strong balance sheet are likely to survive this battle of attrition,” said the report. JM Financial believes that quick delivery platforms have what it takes to disrupt the unorganized grocery market including neighbourhood kirana stores or even retail chains like DMart in large cities. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Earliest delivery option </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jiomart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No timeline committed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bigbasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Next day morning </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Next day morning </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Instamart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blinkit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zepto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dunzo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bigbasket Now </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola Dash </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon Fresh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-4 hour </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart Quick </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fraazo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90 mins </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FreshToHome </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Next day morning </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Licious </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-4 hour </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-gives-a-tenth-of-his-networth-to-charity-azim-premji-is-impressed/articleshow/92426271.cms">Gautam Adani gives a tenth of his networth to charity, Azim Premji is impressed</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-show-signs-of-life-after-a-bloodbath-but-future-remains-uncertain/articleshow/92427941.cms">Cryptocurrencies show signs of life after a bloodbath, but future remains uncertain</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rejected-i-banks-manufacturers-for-not-having-enough-women-on-board-says-mamaearth-founder/articleshow/92429742.cms">Rejected i-banks, manufacturers for not having enough women on board says Mamaearth founder</a>

DMart and JioMart are unable to keep pace with Dunzo, Swiggy Instamart, Ola Dash

<ul><li>DMart’s growth in e-commerce still doesn’t seem as bullish as its competitors.</li><li>DMart in its third quarter earnings said that it’s still going slow with e-commerce with ‘controlled acceleration.” </li><li>The Radhakishan Damani-led company managed to post profits worth ₹470 crore, accounting for a year-on-year growth of 19.3%.</li></ul>One of India’s biggest retail players, DMart, has posted a strong show in its third quarter earnings, but a big part of the investors’ focus was on how India’s second richest man, <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, geared up for competition from the likes of <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>, Amazon and Flipkart. While most brokerages seemed content with the progress made by <keyword id="9012742" type="UNKNOWN" weightage="20" keywordseo="dmart-ready">DMart Ready</keyword> (the e-commerce vertical), the company itself called it ‘controlled acceleration.” <div type="image" title="DMart" msid="80210661" hostid="261"></div> DMart Ready – still going ahead with soft launches By the end of October, 2020, DMart finally gave in to the needs of e-commerce and geared up to take on the next phase of growth with small steps in its online retail offering – DMart Ready. Neville Noronha, CEO &amp; Managing Director of <keyword id="6410316" type="UNKNOWN" weightage="20" keywordseo="avenue-supermarts">Avenue Supermarts</keyword> said that in the third quarter the company continued with the soft launch of DMart Ready in select pin codes of Ahmedabad, Bangalore and Hyderabad. Within their brick and mortar stores, they have also leased space for Avenue E-Commerce Limited (AEL). <div type="image" title="dmart revenue (2)." msid="80210029" hostid="261"></div> But DMart’s growth in e-commerce still doesn’t seem as bullish as its competitors. “Post Covid-19 environment is creating opportunities to launch DMart Ready in more cities. However, we will continue with our approach of small trials, reviews and controlled acceleration for DMart Ready,” he said. Earlier in the second quarter of FY21, the company had said that it would be shutting down two stores in Mumbai and turning them into fulfillment centers for its e-commerce operations. "One each in Mira Road and Kalyan. Both these locations have an alternate DMart store within 4 km," Noronha had said in a statement. Analysts too pointed out the slow growth in e-commerce. "Over the long-term, we like the soft launch of <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> operations in some cities, however, focus continues to be brick and mortar stores and e-commerce ramp up will be a slow process, in our view," said a report by ICICI Securities. However, analysts also believe that it’s e-commerce steps could make for a substantial long-term growth. “We believe the aggression on e-commerce along with potential market share gains in modern trade channels bodes well for long-term growth sustenance,” said a report by Edelweiss. The report also mentioned competition from heavyweights like India’s richest man Mukesh Ambani’s e-commerce debut JioMart, Walmart-owned Flipkart and global e-commerce giant Amazon as one of the key risks for Avenue Supermarts.“We expect a period of consolidation in the stock with investors waiting to see the impact of aggressive online competition in the grocery space,” said a report by <a href="https://www.financialexpress.com/market/radhakishan-damanis-dmart-hits-fresh-highs-but-analysts-shy-away-from-giving-buy-calls/2168490/">YES Securities</a>. This has further boosted its share price on Monday morning to ₹3,007 (as of 11.15 am). DMart’s stock has already run-up nearly 30% in the last six months and its market cap is nearing ₹2 trillion. <div type="image" title="dmart share jan 11" msid="80210044" hostid="261"></div> Third quarter earnings boost: Brokerages have raised the target price <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3275 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2400 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,864 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2655 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2850 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a> <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on</a>

You Searched For "Dmart growth" and got 4 results

Brick and mortar retailers are growing and fuelling e-retail growth too

Katya Naidu

Radhakishan Damani has a string of challenges ahead of him and falling profits at DMart don’t help

Sanchita Dash

DMart and JioMart are unable to keep pace with Dunzo, Swiggy Instamart, Ola Dash

Bhakti Makwana

Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce

Sanchita Dash

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