: HPCL launches branded store ‘Happy Shop’ #FinanceIndia #StockMarketNEWS #Business New Delhi: Hindustan Petroleum Corporation Ltd, India’s third largest fuel retailer, on Friday unveiled its

@StockMarketNEWS Mon 06 Sep, 2021

Posted in: #Business #FinanceIndia #StockMarketNEWS

HPCL launches branded store ‘Happy Shop’ #FinanceIndia #StockMarketNEWS #Business
New Delhi: Hindustan Petroleum Corporation Ltd, India’s third largest fuel retailer, on Friday unveiled its branded store ‘Happy Shop’, marking its foray into the non-fuel retailing business.

World over, fuel retailers are vigorously pursuing non-fuel retail business to boost overall revenue margins. Non-fuel retail services such as convenience stores are an integral component in the revenue makeup of fuel retail companies globally but in the Indian market it is a relatively new format.

The contribution of non-fuel segment in revenue is between 40-50 per cent of the overall profitability in the international market whereas in India this is just 4 per cent.

In a statement, HPCL said it opened the branded store at one of its petrol pumps in Mumbai.

“Located at the company-owned retail outlet at the upmarket Nepean Sea Road near Malabar Hills, this is company’s latest offering at its ‘Club HP’ Retail Outlets,??? it said.

“The store will provide home utility products including food, toiletries, healthcare products, bakery products, groceries, medicines and more,??? it added.

HPCL said the core objective is to provide a range of good quality daily use products to customers at their convenience.

“Apart from physical sales from the shop, order and self-pick up, order and home delivery options will also be available to the customers,??? it said.

Customers will be able to browse the merchandise on HPCL’s HP-Pay App (available on Play store/App Store), check out product details and availability and have goods delivered to their doorsteps. The services will be available 24X7.

HPCL said it plans to come up with more such Club HP ‘Happy Shops’ in Mumbai and other major cities at its retail outlets.

HPCL also launched poWer 100, an ultra-premium grade petrol with Octane rating of 100 to cater to the growing number of high-end cars and bikes.

PoWer 100 provides improved knocking characteristics for high-end engines. Its superior combustion properties reduces emissions making it more eco-friendly, it added.
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