Presently, data indicates that 14 new malls spread over 5.9 mn sq. ft. area will get operational by 2021-end across Indian cities, and fit-outs are underway in at least 10 of them.
Tag: Future Of Retail In India
essential goods will fuel Indian retail industry’s growth in the coming quarters as consumer expenditure continues to remain focused on essentials—particularly food and grocery—reveals the latest report by ANAROCK & Retailers Association of India (RAI) titled ‘Indian Retail – Certainty Despite Headwinds’
Anuj Kejriwal, MD & CEO – ANAROCK Retail
- Online retail is projected to grow to US$ 73 billion by 2022
- Retail sector attracted US$ 147.40 million investments in FY18
- Organised retail penetration expected to reach 10% in 2020 against current 7%
- Amazon & Alibaba are investing in offline stores – brick-and-mortar retail will survive the ‘online assault’
The Changing Dynamics of Indian Retail
The Indian retail sector is on a faster roll than ever before. Rapid urbanization and digitization, rising disposable incomes and lifestyle changes – particularly of the middle-class – are acting as booster rockets for the Indian retail sector, which is projected to grow from US$ 672 billion in 2017 to US$ 1.3 trillion in 2020.
Over the last two decades, the Indian retail market has witnessed phenomenal changes, evolving rapidly from traditional shops to large multi-format stores in malls offering a global experience, and on to the highly tech-driven e-commerce model.
These changes have resulted in unprecedented growth in overall consumption with numbers suggesting that consumer expenditure in India will rise to US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017.