DEERIKA Hypermart has launched its second Hypermarket at the Pacific Premium Outlets, Jasola, Opposite Apollo Hospital, New Delhi. DEERIKA’s Hypermarket offers a wide variety of categories, including Grocery items, Fashion, Electronics, Luggage, Footwear, Home fashion, and much more. The range of products extends from basic to premium, providing consumers with a wide assortment to choose from.
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries in the world, owing to the entry of several new players in the market. It accounts for over 10 percent of the country’s gross domestic product (GDP) and around 8 percent of employment. India is the world’s fifth-largest global destination in the retail space.
Akash Anand, MD, DEERIKA Retail said, “We began DEERIKA’s operations in 2020 with the goal of meeting the diverse demands of Indian customers by providing a promise of convenience, value, and quality, which would ultimately reinforce DEERIKA's commitment to its clients and the shifting retail market climate in the country. We conducted a survey where we found that 45 percent of customers complained about joining long queues just to make bill payments at retail stores.”
“To provide a convenient in-store shopping experience, we are the very first player in the market to introduce Smart Cart and Scan and Mobile Pay option through Deerika App. Our success can be gauged by the fact that since our inception we have witnessed 30 percent year-on-year business growth. From just 1 Store in 2020, we currently have 5 stores in PAN India, 12 stores will go live in the next 2 months and will open 25 more stores by 2023, in addition to our ever-increasing online presence,” he added.
DEERIKA launched DEERIKA App and the DEERIKA plus membership program for customers in April 2022 with hard-to-resist offers for all new users. Within just 3 months of the launch of Deerika plus+ membership, we have observed a drastic upward trend of 40 percent contribution in business by our members alone.