Retail Industry Analysis in Mumbai

RETAIL INDUSTRY ANALYSIS

Indian Retail Sector is the second largest in terms of employing people after agriculture. The sector employs more than 35 million people with wholesale trade generating an addition employment to 5.50 million more. Presently the Indian retail market stands at USD 396 billion and is likely to grow at 12% to increase to USD 574 billion by 2015. The rising disposable income in the country is resulting in increasing consumer spending habits. This is likely to double in next 5 years. The organized retail – a chunk of this, is presently budding at a CAGR of 22% and is anticipated to be 21% of the total retail expenditure. The highest contribution in retail sector is made by the food and grocery through traditional retailing. And penetration of modern retail is highest in the clothing and fashion segment, at 23% of growth. Retail in India is undergoing a paradigm shift. With emerging mega malls, increasing young population, boost in earning capacity and spending power, changing mindsets with trends and influences of brand and easy customer credit, the sector is augmenting in a conducive environment. Add to this, the relaxed FDI norms and large players in retail spreading out their businesses in tier II and tier III cities offering specialized products and convenient shopping choices, the sector is certainly set for higher growth.

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