THE INDIAN RETAIL MARKET is estimated to be around $800 billion. Predominantly, it is unorganised and operated by over 11 million kirana shops. These kiranas depict the power of MSME or even nano-SME entrepreneurs, using their native intelligence and commercial acumen to trade. They continue growing despite the past two decades of large brands of formal retailers having entered this space. This retail space has its set of complexities of hyper local consumer behaviour, local product preferences, price sensitivity, packaging requirements, brand vs product trade-offs and much more.
The Indian grocery ecommerce market is estimated to grow to around $25 billion by 2025. The research firm Sanford C. Bernstein's report mentions that "Online grocery penetration is expected to reach -3-5%, by 2025 from less than 1% today. Long-term structural drivers remain strong: rising income and affluence, lower tier consumption, e-commerce penetration (-30% CAGR) and a youngpopulation (-50% below 25). Grocery spend as a proportion of income remains high at -30%".
Traditionally, the Indian households bought monthly groceries in bulk. With the advent of nuclear families, this slowly segmented into buying groceries as dry goods and fresh goods (like vegetables, fruits, meats, etc.) as separate purchase patterns. With usage of marketing mediums to communicate freshness, price bargains, free home deliveries, special SKUS (stock-keeping-units), seasonal merchandise and more, the formal retailers have been trying to capture territory and consumer mindshare, as well as a share of their wallets. Fairly, the consumer behaviour of planning the monthly groceries purchase has changed and continues to shift more towards Just-in-Time (JIT).
この記事は Businessworld の April 23, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Businessworld の April 23, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.