Tag: Future Of Retail In India
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.