Progressive Grocer - July 2022
Progressive Grocer - July 2022
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E-commerce and online shopping are growing at a steroidal pace in India. So much so that many feel the online channel will soon emerge as the preferred shopping medium and will outsprint offline by a wide distance.
But here’s a sobering statistic for those who think that physical retail and grocery retail, in particular, is fast moving towards its sunset date. According to market intelligence tracker IBEF, the FMCG market in India is expected to grow at a CAGR of 14.9% to reach $220 billion by 2025, from $110 billion in 2020. But only a thin slice of this market — 3% — will be taken up by e-commerce, leaving about 97% of the FMCG market in the offline domain. So, any apocalyptic prophecy about the future of offline retail is grossly exaggerated and overblown.
In order to capture the huge offline FMCG market, retailers need to build both their online presence and offline footprint. This strategy is best exemplified by The NEW Shop, our cover story retailer (pages 26-37), which has emerged as India’s fastest-growing 24/7 omnichannel, convenience quick commerce company.
Progressive Grocer Magazine Description:
Utgiver: Images
Kategori: Business
Språk: English
Frekvens: Monthly
PROGRESSIVE GROCER has been the voice of the food retail industry for over 80 years in the USA. Serving a wide audience in the Indian market, Progressive Grocer India's readers are top management at headquarters and top decision makers at store level. By anticipating, reporting and interpreting important data and trends, PROGRESSIVE GROCER fulfils its mission of identifying and highlighting insights and opportunity for leading grocery retailers, thereby accelerating brands and sales success for leading manufacturers
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