Why Retail is a significant industry?

Well, it is evident; Retail is a promising customer business landscape. Announcing its prominence in the world across nations & economies today, the Retail industry has undergone a major shift observing prolific growth and to which the tangent is ever scaling. India currently has the 4th Largest retail market in the world which is expected to reach $1.1Tn by 2027 and $2 Tn by 2032.

While the field ranges across Food & Grocery, Apparel & footwear, and consumer electronics officiating its rich segments, constituting 63 percent, 9 percent and 7 percent respectively, what adds to its expansiveness is the attractive & large population who bear incessant market demand for products. India having the second largest population in the world, with a rising middle-income class, increasing urbanization, connected rural consumers and increased discretionary spending amongst consumers has much to seek. Especially digitization has further propelled the paradigm of retail with growing e-Commerce segment, introduction of newer formats, increasing institutional investment and entry of new global brands.

Furthermore, with the growth that Indian retail sector has marked, post COVID market in 2022 taking a leap forward with sales and revenue multiplication, the Retail Franchises space is also witnessing addition of new leaders across sectors. We through our current edition, ‘10 Most Promising Retail Franchises – 2023’ have strived to enlist the acknowledgeable leaders making a positive dent in the industry with their accomplishing services.

Do read through and let us know your feedback!