How big is Indian retail
Retail is the new gold rush
fter Jio became India’s number one mobile brand, Reliance wants to dominate Indian retail. It launched Jiomart to select customers with 50,000 grocery products, free home delivery and a return policy. India is world’s fastest-growing retail market.
Reliances offline retail arm Reliance Retail is already India’s biggest retail brand. It’s bigger than HDFC, ICICI Bank, Kotak and SBI. Its nearest competitors are:
- Dmart: 1.2 lacs cr.
- Vmart: 3000 cr.
- Trent: 18,000 cr.
- ABFRL: 18,000 cr.
- Spencer Retail: 400 cr.
- Future Retail: 17,000 cr.
Source: Meet Shah
Indian retail industry was worth Rs 66.39 lakh crore (US$ 950 billion) in 2018, and it will reach to Rs 76.87 lakh crore (US$ 1.1 trillion) by 2020. 12% of India’s retail sector is organized. Online retail penetrates only 2% of India’s market. Online retail will grow at 31% annually. Overall retail will grow at 13%. Market will see more brands such as 37 Krishna Supermarche. It started as a single outlet mom&pop shop. Today it has six stores in Delhi-NCR.
