Shoppers Stop gears up for 12 new stores in FY23

Retail chain Shoppers Stop has plans to launch 12 new stores in FY23, primarily in Tier-2 and 3 cities, and will continue to invest in store renovations. The company plans to increase the share of new and refurbished stores to over 50 percent in FY23. The company will also continue to invest in its private labels, including celebrity endorsements. This can then be translated into much more effective marketing and product recommendations, leading to greater customer accretion and stickiness. In addition, such store expansion move of Shoppers Stop is a new business opportunity for the signage companies engaging in in-store graphics and such applications.