India’s retail market to touch $1.1-1.3 trillion by 2025: BCG
Live MintIndia’s retail market is estimated to reach $1.1-1.3 trillion by 2025, from $0.7 trillion in 2019, growing at a compound annual growth rate of 9-11%, driven by socio-demographic and economic factors such as urbanisation, income growth and rise in nuclear families. The future of Indian retail will be determined by factors such as consumer shifts, supply side innovations, data and technology driven disruptions, new competitive forces and government regulations, the report said. In its report, BCG said the increasing popularity of supermarkets and investments by large corporates such as RPG Group, Future Group, Aditya Birla in modern trade, along with the rise of e-commerce, among others, has threatened the existence of India’s kirana stores. But going forward, BCG expects that innovations aiming small neighbourhood stores driven by e-commerce, B2B, B2C will continue to drive their growth and relevance.