Retail is the second-largest sector in the Indian economy after agriculture. It accounts for nearly 10% of the GDP and employs approximately 7% population of the country.
India is seen as one of the fastest-growing economies in the world and has a huge potential for organised retail as currently about 3% of the Indian retail is organised. The remaining 97% share is taken by the local mom and pop shops, an unorganized retail that constitutes of India’s Informal Economy.
Even the government is taking measures to help the organised retail sector in its expansion like relaxing restrictions such as franchising, licensing, wholesaling. About 13 million small retailers exit in India, accounting for more than 83% of the Indian F&G sector, which would be projected to exceed USD 950 billion by 2022. But in a country like India which finds it tough to employ its ever-expanding workforce, a large-scale liberalization will adversely affect the large, unorganised retail sector.
We offer a supermarket with a 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.
Inia is the world’s 6 largest grocery market with enormous development possibilities owing to expanding population and spending power. The Indian grocery sector, which represents 69 percent of India's overall retail sector provides merchants with several options. Numerous retail players had attempted to capitalize on this opportunity with little success. The small Kirana has always been the core of the Indian grocery market, accounting for 90 percent of sales. Even while retails giants compete for customer loyalty whenever it comes to grocery shopping, local business has kept their ground.
Furthermore, with growing spending power and internet usage, the e- supermarket is anticipated to develop at a rapid pace in the next years. The market for e – supermarket, which was valued at USD 1 billion in 2020, is expected to increase to USD 22 billion by 2022.
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. This created a dynamic market environment in India and has opened up opportunities for the organized e-retail players.
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