Retail likely to grow to $1.3 trillion by 2020: Anarock
India’s retail segment is on a faster roll than before. Rapid urbanisation, digitisation, rising disposable incomes and lifestyle changes are boosting the sector, which is projected to grow to $1.3 trillion in 2020 from $672 billion in 2017, according to Anarock Property Consultants.
Over the past two decades, the Indian retail market has transformed to large multiformat stores in malls offering a global experience and on to the highly tech-driven ecommerce model.
“High demand for a superior customer ‘experience,’ penetration of big brands into smaller towns and cities, enhancement in business strategies and operations, along with the movement from unorganised to organised business have been key factors driving this growth,” said Anuj Kejriwal, MD of Anarock.