The Indian retail market is the fifth largest in the
world, and it is estimated that by 2015 it will grow to US$637 billion.
India has currently 12 million retail outlets, out of which nearly 5
million sells food and other related products. But even with such large
number of retail outlets, Indian retail sector contributes only 4% of
the total market. Thus there is a huge potential of growth in this
sector. The trends and the life style of the people are changing very
rapidly and this is contributing hugely in the expansion of retail
sector. The mall space is expected to touch nearly 60 million square
feet by the end of 2008. The retail sector comprises of luxury retail,
kid's retail, discount malls, E- tailing etc.
Luxury Retail:
The Indian luxury market is expected to rise to US$30 billion, by the
end of 2015 and it is world's 12th largest retail market. The luxury
retail market is growing annually at the rate of 25% per annum. Many
foreign brands such as French Connection, La Pearla, Calvin Klein are
investing in the Indian luxury retail market which is sure to further
give a push to this booming sector.
Kid's Retail:
According to the experts, the kid's retailing sector is going to touch
annual growth of nearly 35%, which is a positive sign for Indian kid's
retailing. Like in the luxury retailing sector, many foreign brands are
also coming to Indian kid's retailing. Brands such as Monalisa,
Pantaloons, Marks & Spencer have already entered in the Indian
Market.
Discount Malls:
Malls are being developed to sell branded goods. Nearly 50 of such
malls are coming in the next few years. Some of such malls are Orchard
Road Mall in Mumbai, Pantaloon Retail (India) Ltd's Brand Factory etc.
E- Tailing:
Internet has reduced the world into a global village. People prefer to
shop online and it is estimated that e - tailing market is going to rise
to US$275 million in the coming few years.
The above facts makes it quite clear that in the coming few years retail
sector in India is going to progress by leaps and bounds.
