The company’s expansion plans are in line with growing consumer confidence to return to physical shopping reflects in a growth in footfall.
The department store chain, operated by Raheja Corp has already introduced five new stores up to now in the present financial year and aims to continue with its expansion plans despite the ongoing disruption of the Coronavirus pandemic.
Venugopal Nair, Managing Director and Chief Executive Officer, Shoppers Stop, commented: “We are looking to open 12 to 15 stores in the next nine months. We did close down three stores in this financial year but that cannot be attributed to Covid as it was part of the annual rationalisation of our portfolio.
“The company is witnessing growth in footfalls with each passing month and the average bill value per customer is higher now. Normally December is a better month than January, but this time we saw higher footfalls in January than in December. That is a good sign that consumers are continuing to come back. Consumer confidence has improved with the vaccines being rolled out.”
