India is the most attractive retail market in the world. Retail market matured in India over the years but still it is highly fragmented. There are around 12-15 million outlets in the country making it a US$ 550 billion market. In past 5 years retail market witnessed a growth of 15% from 2010 to 2014, which is higher than Indian GDP growth.
Growing youth segment and working women population, rising incomes and rising purchasing power, higher brand consciousness, changing consumer preference, growing urbanization, Increase in number of upper middle class and rising internet penetration are the biggest drivers in the growth of retail industry of India. Also, rapid real estate infrastructure development, easy access to credit, increased efficiency due to development in supply chain and growing interest of investors are also helping retail sector to grow in India.
Retail Industry in India unlike other emerging economy is still very traditional in nature and is largely controlled by Cooperatives and Independent Retail companies. Street markets play an important role in the Retail industry of India as most of the population does their shopping here. Before the liberalization and globalization in 1991, western apparel, foods etc. we’re not available in the Indian market and the brand awareness and recall among the local population was negligible but after 1991 the awareness has steadily increased. This has allowed international brands to flourish.
Apart from normal brick and mortar stores e-commerce is the next big sector in India and is poised for a boom. India has all the necessary conditions like moderate per capita GDP, rising internet connections, large number of engineering graduates etc which are required for the success of E-commerce. Currently the E-commerce Market is worth more than billions of dollars but that is just the tip of the iceberg. The retail industry of India is hugely untapped and investors can massive returns when they decide to enter India’s retail sector. The Retail Market in India is expected to grow at a CAGR of till 2020.
What the report offers
The study identifies the situation of India and predicts the growth of its Retail Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Retail Sector of India. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by bazaars, brick and mortar shops and e commerce.