Retailing in India - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 03:36:03
2013 was a good year for retailing in India as income levels increased for much of the Indian population. Improvements in the economy encouraged consumers to spend more, benefiting non-grocery retailers particularly. Furthermore, improvements in the availability of a wide range of brands from luxury goods to basic private label products gave consumers more options to choose from and also boosted awareness of particular brands and products, supporting growth across retailing during 2013.
Improved convenience and the wider availability of various brands at cheaper prices online led Indian consumers to shift towards internet retailing during 2013. Internet retailing now poses huge competition to store-based retailing, especially apparel and footwear specialist retailers, electronics and appliance specialist retailers, beauty and personal care specialist retailers, leisure and personal good specialist retailers and health and beauty specialist retailers, among others.
Towards the end of the review period, rising disposable income levels led Indian consumers to spend more on products other than basic necessities. This helped to drive growth in non-grocery retailers, which outpaced growth in grocery retailers over the course of the year. Furthermore, rising brand consciousness led many consumers to switch to luxury goods and premium brands, which further boosted non-grocery retailers.
Domestic brands and local companies remained dominant among the players operating in retailing in India during 2013. In spite of various relaxations made to the rules regarding foreign direct investment in India in 2013, international companies remain cautious about India and a ´wait-and-see´ approach remained common. However, anticipated changes to legislation is set to have more of an influence on their operations in India. Moreover, domestic players maintain a longstanding presence in the country and thus remain very popular.
Hypermarkets is set to record the strongest growth in grocery retailers over the forecast period. Much of this growth is set to be due to the increasing number of product categories which are being offered by hypermarkets. The operators of India´s leading hypermarkets chains are also slowly beginning to increase the total proportion of their value sales coming from non-grocery products, which is set to remain the primary factor behind the strong growth expected in hypermarkets in India over the forecast period.
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