India Retail Report in 2019 From IBEF
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The following is the India Retail Report in 2019 From IBEF recommended by recordtrend.com. And this article belongs to the classification: research report, Online shopping.
The brand value foundation of India (ibef) released the latest “India Retail Report”. In order to boost consumer spending, India continues to raise household incomes and promote demand for quality products.
Currently, India ranks 77th on the world bank’s business environment rankings in 2019.
It is estimated that India’s total consumption expenditure will increase from $18.24 trillion in 2017 to nearly $3.6 trillion by 2020.
Due to economic growth, India has become one of the fastest growing retail markets in the world.
In 2018, India’s retail industry will reach 950 billion US dollars. Ibef predicts that the compound annual growth rate from 2018 to 2020 will be about 13%, so the retail industry in India will reach 1.1 trillion US dollars by 2020.
In terms of retail industry, India is the fifth largest market in the world.
India’s retail market is expected to grow from $672 billion in 2017 to $1.2 trillion in 2021. In other words, the scale of India’s modern retail industry will double in the next three years.
It is expected that the size of India’s modern retail market will increase from US $13.51 billion in 2016 to US $26.67 billion in 2019.
Consumption is booming, and the rural market has expanded India’s FMCG market.
The FMCG market is expected to increase from US $52.75 billion (INR 340 million) in 2018 to US $103.7 billion by 2020. The industry is expected to grow by 11% to 12% in 2019.
In order to promote the development of Indian retail industry, the Indian government actively promotes the participation of foreign and private enterprises to promote the construction of retail infrastructure.
On the other hand, online retailing has become another driving force for the Indian retail market. In 2017, India’s online retail sector grew by 23% to $17.8 billion. In 2018, online retail sales in India increased by 31% year-on-year to reach US $32.7 billion. Revenue from online retail is expected to grow to $60 billion by 2020.
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