As concerns grow around the potential impact of artificial intelligence on technology sector employment, Electronics Mart India is accelerating its expansion into new markets to reduce dependence on its core Hyderabad business.
The Hyderabad-based electronics retailer currently generates nearly 60% of its revenue from the city, which is home to major global and Indian technology companies. Around 20% of its stores in Hyderabad are located in areas where software professionals form a significant portion of the customer base.
The company operates more than 220 stores across 6 states, primarily in Andhra Pradesh and Telangana, and entered the National Capital Region in 2022. It sells products from leading consumer electronics brands and is now looking to strengthen its presence in northern and eastern India.
As part of its growth strategy, Electronics Mart plans to invest approximately Rs. 1.2 billion to open 20 new stores during the current financial year. The expansion includes up to 7 stores in Kolkata, where the company currently has no presence, along with a deeper push into the New Delhi market.
Company executives acknowledged that any disruption in the technology industry could influence consumer spending patterns and impact business performance. With AI adoption increasing across industries, concerns about potential job losses in technology-driven cities such as Hyderabad and Bengaluru have become a key consideration for retailers dependent on this customer segment.
The company said its expansion plans are aimed at reducing reliance on any single market or industry and creating a more balanced business footprint.
Looking ahead, Electronics Mart intends to add 20 to 25 stores every year over the next 5 years, focusing on regions where organised electronics retail remains fragmented and offers significant growth opportunities.
For the current financial year, the retailer expects revenue growth of around 15%. The company also anticipates strong demand for air conditioners and cooling appliances due to rising temperatures and an extended summer season, which is expected to support overall sales performance.
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