retail and ecommerce
The Retail And Ecommerce Industry
The Retail market in India has undergone a major transformation and has witnessed tremendous growth in the last 10 years. The Overall Retail market is set to cross the $1.75 tn mark by 2026 from $795 bn in 2017. India’s e-commerce retail market which stood at $30 bn in 2019 is also set to grow at a CAGR of 30% for gross merchandise value to be worth $200 bn by 2026. Direct-to-Consumer segment could have a US $100 billion addressable market by 2025.
India ranks among the best countries to invest in Retail space. Factors that make India so attractive include the second largest population in the world, a middle class of 600 mn people, increasing .urbanization, rising household incomes, connected rural consumers and increasing consumer spending.
The fast growing e-commerce market in the country will touch $84 billion in 2021 from $24 billion in 2017 on account of a healthy growth in organized retail sector, a report said on Tuesday. A fast growing economy and robust demographics provide a positive outlook to the consumer businesses in India, according to a report by Deloitte India and Retail Association of India.