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IMARC Group has published a market research report titled "India Retail Market Report by Product (Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032", India retail market size is projected to exhibit a growth rate (CAGR) of 13.90% during 2024-2032.
The India retail market is expanding rapidly, owing to a rise in consumer spending and the rapid urbanization of the country. Besides this, the demand for a variety of retail goods is being greatly increased by the middle class's expansion and growing disposable incomes. Additionally, the penetration of the internet and smartphones has facilitated a boom in e-commerce, making online shopping highly accessible and popular among consumers. Moreover, the initiatives of the government bodies, such as the Digital India campaign and policy reforms to remove foreign direct investment (FDI) norms in retail, are further propelling the India retail market forward. Meanwhile, retailers are increasingly leveraging technology to enhance customer experiences, streamline operations, and offer personalized services, thus attracting customers.
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India Retail Market Trends and Drivers
Another major trend in the India retail market is the growing preference for organized retail formats over traditional, unorganized retail. This shift is driven by the convenience, variety, and quality assurance offered by modern retail stores and online platforms. Consequently, the rise of omni-channel retailing, where retailers integrate their online and offline operations, is providing consumers with seamless shopping experiences. In addition, there is a noticeable increase in the need for sustainable products as consumers become more environmentally conscious. Apart from this, the adoption of advanced technologies such as artificial intelligence, big data analytics, and the Internet of Things (IoT) in retail operations is enhancing efficiency and customer satisfaction, positioning the India retail market for continued growth and innovation.
Report Segmentation:
The report has segmented the market into the following categories:
Product Insights:
Food and Beverages
Personal and Household Care
Apparel, Footwear and Accessories
Furniture, Toys and Hobby
Electronic and Household Appliances
Others
Distribution Channel Insights:
Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Regional Insights:
North India
West and Central India
South India
East and Northeast India
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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