Companies eye rural store expansion to drive growth

Good news for the signage companies engaging in in-store display and signage projects is that companies across various verticals are looking to open brick and mortar stores in the smaller towns of the country, a move which according to them will help to address the next potential market and increase their market share. Fashion e-commerce brand, LimeRoad, mobile, and accessories company Xiaomi, and apparel retailer Raymond are betting big on these markets and wants to add new consumers into their fold. LimeRoad is looking to open 3,000 offline stores in the smaller towns in the next three years. Raymond is also aggressively expanding its exclusive retail outlets in tier IV towns and beyond, so far opening 200 small format retail outlets called Mini TRS (The Raymond Shop) in smaller towns with populations as low as 50,000.