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Retail Industry in India

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RETAIL SECTOR OVERVIEW-2020

Statistics, news & updates: everything you need to know about the Retail Industry in India

Summary

The Retail market in India has undergone a major transformation. In fact, it has witnessed tremendous growth in the last 10 years. India is largely an unorganized retail market, contributing 88% to the total retail sector in India.

The organized retail market is currently valued at $ 60 billion, while the unorganized market holds the rest. Organized retailing in India, refers to trading activities undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. These include the publicly traded supermarkets, corporate-backed hypermarkets and retail chains. Unorganized retailing, on the other hand, refers to the traditional formats of low-cost retailing. Most Indian shopping happens in open markets or numerous small grocery and retail shops.

 

The Indian Government has permitted 100% FDI in the single-brand retail and 51% in multi-brand retail. This move will further accelerate the Retail Industry. Due to the entry of several new players, the Indian retail industry has emerged as a dynamic and fast-paced industry.

Covid Impact
Brick-and-mortar retailer chains and small stores said the latest Covid restrictions have severely impacted the retail industry leading to liquidity challenges and job losses. India’s $850 billion retail sector has been reacting to the global pandemic over the last year with hand sanitiser, face masks and a step up in the cleaning at malls and other organised retail outlets. Annual retail inflation (INCPIY=ECI) rose 6.30% year-on-year, up from 4.29% in April. Analysts had forecast retail inflation at 5.30% Weaving in and out of lockdowns and restrictions has enabled most retailers to invest in digitisation and e-commerce to remain competitive and in some cases, stay in business. The online retail sector was already growing at considerable rate pre-covid. The lockdown and closure of physical stores has allowed retailers to digitise, pivot and focus on different verticals, meaning that the online space is now more competitive than ever. The statistics below are taken from Industry data available pre-Corona virus impact.
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