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In a bid to meet evolving consumer needs, Godrej & Boyce, the flagship company of the Godrej Group, is looking to ramp up the distribution of its various consumer businesses in tier-2 and 3 cities by FY27. This includes Godrej Appliances, Godrej Security Solutions, Godrej Interio and Godrej Locks.
Responding to emailed queries by businessline, Anil Verma, CEO and Executive Director, Godrej & Boyce said, “We are looking to ramp up our operations into tier-2 and -3 cities by strengthening our network and online presence through our verticals. These towns have been driving the growth of premium products and services driven by aspirational consumer demand and digital payments. We plan to extend our footprint to more than 400 towns by FY27 to meet the evolving demands of consumers.”
He added that this expansion will be done through organised retail stores specialising in hardware, furniture, and appliances, along with local outlets that draw potential buyers through revitalised point-of-sale strategies.
“We are present across multiple consumer-facing businesses and each of the businesses has a detailed plan to reach their targeted markets through our shops, distributor-retailer networks, multi-brand outlets, modern trade outlets, and traditional channels and E-commerce platforms,” Verma explained.
Premiumisation
Godrej Appliances plans to increase the number of exclusive brand outlets as well as preferred brand outlets. Godrej Interio is looking at opening over 100 stores outside metro cities annually. Meanwhile, Godrej Security plans to double its reach from over 2,500 stores to over 6,000 stores by FY27. Godrej Locks and Architectural Fittings plans to extend its footprint to 600 cities across 14,000 stores in this period, Verma added. .
This expansion comes at a time when the premiumisation trend across categories has been gaining ground with consumers looking at upgrading their homes and lifestyles.
“Indian consumers are becoming increasingly discerning when it comes to their choices, and they are looking for brands that reflect their values. There is also a palpable yearning for premium products and elevated experiences. The prominence of premiumisation is evident, as consumers actively seek superior-quality offerings and technologically advanced products,” Verma explained.
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