Project report for Supermarket
Project report for supermarket is as follows
India has replaced China as the most favorable market for retail expansion, supported by a fast-growing economy, increasing consumption rates, rising urbanizing population and a burgeoning middle class. The total market size of Indian retail sector was estimated to be around US $650 billion in 2018, thereby registering a compound annual growth rate (CAGR) of around 7.5 percent since 2000. The retail industry is expected to grow to US $1.6 trillion by 2026, registering a CAGR of about 10 percent. However, modern trade is expected to grow at a rate of 20 percent per annum and traditional trade is expected to grow at a rate of 10 percent per annum.
Of the overall retail industry, food and grocery accounts for the largest share in revenue in India. India is the world’s second-largest producer of food. Food and grocery retail in India exceed US $294 billion representing 16 percent of India’s GDP. By 2020, food and grocery segment is estimated to constitute 66 percent of the total revenue in the Indian retail sector, followed by the apparel segment. The grocery business in India is distinctive in many ways, primarily due to the diversity of consumers and the unique distribution models of the retail sector. From mom and pop stores to giant supermarkets to online grocery stores, the grocery business in India operates across channels. However, most of India's grocery business happens through the unorganized sector, which mainly comprises of small stores, also known as kiranas.
Product / Services & process
We offer a supermarket with self-service shop offering a wide variety of food, beverages and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores.
Market potential & Strategy
The grocery business in India is distinctive in many ways, primarily due to the diversity of consumers and the unique distribution models of the retail sector. From mom and pop stores to giant supermarkets to online grocery stores, the grocery business in India operates across channels. However, most of India's grocery business happens through the unorganized sector, which mainly comprises of small stores, also known as kiranas. There are over 12 million small stores in India and account for over 90% share of the Indian F&G market, which is predicted to reach USD 810 Billion by 2020. Indians have traditionally relied on mom and pop stores for their monthly food & grocery needs. These stores have a personal connection with their customers and are well versed in customer preferences, which in turn enables them to stock locally relevant products. Indians prefer buying their monthly supplies from these local stores for various reasons such as proximity, availability of credit, and the option to return/exchange products. However, with rising disposable incomes and internet penetration, the eGrocery market is expected to grow by leaps and bounds in the near future. The eGrocery market size, which was worth USD 0.69 billion in 2017, is projected to grow to 16 billion by 2020; translating to a staggering of 148?GR. The fact that India is home to the youngest population in the world (avg. age - 27.6 yrs) plays a major role in the predicted shift in the Indian grocery market. Equipped with disposable incomes and smartphones, young consumers are internet savvy and prefer ordering their grocery online, given their busy lifestyle. This change has majorly contributed towards creating a dynamic market environment in India and has opened up opportunities for the organized e-retail players.