Kirana stores sitting on gold mines in real estate

One of the biggest problems that our retail industry is facing is the severe shortage of retail space in central areas of cities, areas where the kirana (mom-and-pop) stores are already established. So instead of competing with the organized retailer, kirana store owners are opting to lease space to them, giving them a ready made market and local customer base. Food and grocery retailers like Subhiksha, Spinach and Spencer’s are signing long leases with kiranas that are over 1,000 sq ft in space.