Mumbai: The Indian retail market is estimated to cross $1 trillion-mark by 2025 and the top five retailers could take on a bigger slice of the industry, reaching over 10 percent market share each in the next decade, a new report said on Wednesday.
The Indian retail market is likely to hit $1.1-$1.3 trillion dollar mark from 0.7 trillion in 2019 — a 9-11 percent CAGR growth — driven by multiple structural, socio-demographic and economic drivers fueling consumption, said the report by Retailers Association of India (RAI) along with Boston Consulting Group (BCG) titled “Retail 4.0: Winning the 20s.”
“The market is still fragmented and offers an opportunity for the top five retailers to more than double their share from less than 5 percent to over 10 percent in the next decade,” said Abheek Singhi, Managing Director and Senior Partner, BCG.
“Winning in the 20s will require retailers to rethink their value proposition and operating model. Precipitating and participating in ecosystems will be a key driver of success,” he added. (IANS)