From 1 to 12 Stores: Optimal Retail's Journey to Rs 178 Cr. Revenue

PNN
New Delhi [India], July 9: India is the world's sixth-largest retail hub, with a rapidly expanding sector across major and smaller cities. In February 2024, retail inflation, measured by the CPI, was 5.09 per cent year-on-year. Organized retail, which makes up 12 per cent of the market, is growing at 10 per cent annually, leading to the development of about 120 million sq ft of retail space in major cities. Optimal Retail Pvt Ltd, the nation's first organised food and grocery retailer, excels by providing affordable, quality products and meeting consumer needs.
Indian Organised Retail Industry Challenges
In India, despite the rapid growth of organized retail, over 90 per cent of the retail sector remains fragmented, dominated by traditional family-run and corner stores. These unorganized shops operate with minimal overhead costs, often located in residential areas, unlike organized retail outlets. Understanding customer behavior has also become increasingly complex, influenced by factors like product and service quality, customer satisfaction, and market promotions. Meeting the rising demands of a globalised consumer base poses a significant challenge for retail businesses, as customer expectations and preferences continue to evolve.
Optimal Retail's Approach
Healthy economic growth, changing demographic profile, rising disposable income, urbanization, and shifting consumer tastes and preferences have all contributed to the rise of India's organized retail business. Optimal Retail, which entered this market in Delhi in 2015, serves as a model for how attentive retailing may lead to long-term business success and societal good. Starting with a single store in 2016, Optimal Retail aimed to excel in the food and supermarket segments, focusing primarily on North India with a customer-centric strategy geared towards long-term prosperity.
Optimal Retail, through its brands Necessity Hypermarket, Devras Retail Store and Restaurant, aims to revolutionize the industry by catering directly to evolving customer preferences.
Necessity Hypermarket
Necessity Hypermarket stands out for offering affordable, quality goods across six states, aiming to redefine supermarket accessibility and industry standards. It guarantees stable prices with "Always Below MRP," ensuring customers can shop without fear of sudden cost hikes. With "Free Home Delivery," it eases the burden of carrying heavy bags and extra costs, especially benefiting busy professionals and the elderly. Leveraging advanced inventory management and an intuitive online platform enhances the shopping experience, while catering to diverse needs with budget-friendly to premium products. Necessity Hypermarket maintains stringent quality standards across all items, ensuring every customer receives the best without compromise.
Devras Retail Store and Restaurant
Devras, with six outlets across Zirakpur, Chandigarh-Ambala Highway, and Vaishno Devi-Jammu, offers a wide range of sweets, snacks, and more. The products, made with pure desi ghee, are affordable and hygienic, catering to the demand for fresh and healthy choices.
Vishal Mahajan, Founder and Managing Director of Optimal Retail Pvt Ltd, adds, "Our 12 operational stores play a pivotal role in our omnichannel strategy, blending offline and online sales seamlessly. Whether in F&B or retail, customer service remains paramount, especially among service-oriented Indian consumers who seek both quality and affordability. Starting with 20 lakhs in 2016, our sales reached 178 crores by 2024. Our commitment lies in reshaping India's organised retail sector with accessible, customer-centric solutions and addressing industry challenges."
The FMCG industry's projected growth to USD 220 billion by 2025 presents a promising market outlook. With the rise of hybrid retail models, the retail sector stands to benefit significantly over the next decade. Key factors driving this optimism include rigorous market research, flexible business strategies, and a strong commitment to customer satisfaction. By embracing continuous feedback and staying attuned to consumer trends, Optimal Retail positions itself competitively for sustained success.
Optimal Retail Pvt Ltd.
Founded in Delhi in 2015 as a proprietorship firm and transitioning to a private limited company in 2019, Optimal Retail Pvt Ltd., is India's pioneering organized retailer in the food and grocery segment. The company operates under the brands Necessity Hypermarket, Devras Retail Store and Restaurant, and also acquired Skittle Bowling Arena, a gaming zone and entertainment firm.
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