Companies eye small towns to open physical store to boost business

A number of leading companies across various verticals are looking to open physical 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 3 years. Raymond is also aggressively expanding its exclusive retail outlets in tier IV towns and beyond in order to tap the non-metro consumers who are not yet shopping from the brand. On the other hand, Chinese handset maker Xiaomi is preparing for a bigger offline push by opening over 5,000 small format Mi Stores by the end of 2019. Such expansion in the retail sector will bring fresh business opportunity for the signage companies dealing in in-store graphic and branding projects.