The New Shop, a 24-hour convenience retail company, has appointed Bollywood actor Rajkummar Rao as its brand ambassador. The actor will be involved in a series of campaigns aimed at improving its footprint across the country. He will be seen connecting with potential consumers through physical stores and in-app services across digital and print platforms such as social media, OTT, OOH and IVR messaging.
Accelerate Product X Ventures Pvt Ltd – the company that owns The New Shop – is two years old and has around 100 stores, of which 70 are franchised. With its plans to expand and open new stores in the near future, the company looks to go beyond traditional strategies of consumer engagement with Rajkummar Rao’s association.
Rajkummar Rao said, “I am thrilled to partner with them, a young brand that is growing rapidly. I identify with the co-founders’ determination to build a brand, ensuring its sustainability and profitability; and I believe it comes from their past entrepreneurial experiences.”
Aastha Almast, co-founder and business head of the company, said, “We believe that now is the right time to bring a brand ambassador on board and strengthen our brand-building initiative. While making can be quite a challenge, Rajkummar Rao has time and time again proved to the world that talent is not only a product of ability but a combination of persistence and hard work. What sets him apart is the unconventionality with which he They have navigated through the industry by setting their own rules and syncing with the audience. Their risk taking is nothing short of entrepreneurial, breaking the organic growth of the company and systemic barriers by providing quality services to the consumers round the clock.
According to a research by Kearney, India’s retail industry is projected to grow at 9% CAGR over this decade, from $779 billion in 2019 to $1,407 billion by 2026 and over $1.8 trillion by 2030.
While the pandemic put major pressure on discretionary spending, especially in lifestyle retail categories like apparel, footwear, fashion accessories, cosmetics, small appliances and home and living, the segment is expected to strengthen post-pandemic. Lifestyle retail categories are expected to grow at a healthy 10 per cent rate to become a $249 billion market by 2026.
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