A lot of talk of India’s potential is currently obscured by the slowdown in the economy, which is also linked to global turmoil. However, experts assert that this is only a temporary blip on the radar, and India’s long term promise is far from breached. Presently a US$ 3 trillion economy, India is targeting a GDP size of US$ 5 trillion by 2025, which undeniably means tremendous upside for businesses.
Consumption is the most critical bulwark of this growth, with the Indian consumer market projected to grow from US$ 1.9 trillion in 2019 to US$ 3.6 trillion by 2025. While it took 20 years to reach a size of US$ 1 trillion, it would just take 6-7 years to add the next trillion dollars. The prospects are particularly bright for the food & FMCG industry, as it is known to best reflect the growth in lifestyle aspirations and consumption with growing affluence. Moreover, the industry has managed to penetrate well beyond the top six-seven metros. In fact a number of major retailers are reporting rich dividends from Tier II and Tier III towns. The prognosis is only bound to get better with the promise of 100 smart cities and associated infrastructure with planned growth. More and more affluent as well as young working people will be attracted to settle in these cities, thereby driving growth in food, grocery and outdoor dining. Beyond this, online retail has penetrated far deeper into the Indian hinterland, precipitating growth rates that are among the fastest in the world. Online retail has been the game-changer by penetrating the entire geographic reach of the country and the growth rates are amongst the fastest in the world. With 65% of the population under 35 making it the world’s largest youth demographic, the consumption story looks even more promising.
Denne historien er fra March 2020-utgaven av Progressive Grocer.
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Denne historien er fra March 2020-utgaven av Progressive Grocer.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Gurgaon's First and Most Successful Independent F&G Retailer
SINCE LAUNCHING ITS FIRST OUTLET IN THE YEAR 2000 IN DLF GURGAON AT A TIME WHEN MODERN TRADE FOOD AND GROCERY STORES WERE NOWHERE ON THE RETAIL HORIZONS OF THE MILLENNIUM CITY, NEEDS SUPERMARKET HAS GROWN TO ADD 26 LARGE, MEDIUM AND SMALL STORES TO ITS KITTY, CLOCKING AN ADMIRABLE RUN RATE ON VARIOUS PARAMETERS OF RETAILING EXCELLENCE ALONG THE WAY. PROGRESSIVE GROCER SPOKE TO NEEDS SUPERMARKET’S MD AJAY DHAR, AND CEO, ARUN KHATTAR, ABOUT HOW THE GROCERY CHAIN HAS BEEN ABLE TO HOLD ITS OWN AND CLOCK STEADY GROWTH IN A HYPER-COMPETITIVE MARKET DOTTED WITH BIG-BOX NATIONAL RETAILERS AND THE SECRET SAUCE BEHIND ITS SUCCESS RECIPE.
Paras Spices is innovating with unique products to meet new trends in the spices category
CATEGORY WATCH FOOD STAPLES
Brands and retailers collaborate to promote the growth of non-alcoholic beverages
SUPER-HERB INFUSED BEVERAGES THAT BRING THE POWER-PACKED GOODNESS OF SUPERFRUITS ARE TAKING THE MARKET BY STORM. THESE NONALCOHOLIC BEVERAGES CLAIM TO CONTAIN ZERO CALORIES, ZERO SUGAR, ZERO ARTIFICIAL SWEETENERS, AND ZERO PRESERVATIVES AND ARE DESIGNED FOR TODAY’S MILLENNIAL-GEN WHO ARE SEEKING A HEALTHY DRINK WITH A TASTY TWIST.
Just Outside the Box
THE HUMBLE PARKING LOT HAS BECOME A DIFFERENT KIND OF RETAIL DESTINATION AND HUB OF COMMERCE.
Increased Focus on Health, Wellness, and Immunity-boosting Products
SALES OF PACKAGED FOODS HAVE SURGED SINCE THE ONSET OF THE PANDEMIC, AS HOME-BOUND CONSUMERS STOCKPILE FAMILIAR PRODUCTS THAT WON’T GO STALE QUICKLY. BREAKFAST CEREALS, INSTANT NOODLES, RICE AND COOKING FATS ARE AMONG THE PRODUCTS THAT HAVE SEEN THE STRONGEST GROWTH IN RECENT MONTHS.
Consumer focus on hygiene & nutrition boosts packaged paneer sales
THE DEMAND FOR CATEGORIES SUCH AS CHEESE AND PANEER HAS WITNESSED AN ALL-TIME NEW HIGH DURING THIS PANDEMIC THANKS TO THE VERSATILE NATURE OF THESE PRODUCTS. NOT ONLY IS PANEER DELICIOUS TO TASTE BUT DURING THE HEIGHT OF THE LOCKDOWN, THE INTERNET WAS TRENDING WITH UNIQUE, FUN AND EASY-TO-MAKE PANEER RECIPES.
How Hormel Became a Snack Company
ACQUISITIONS, ADJACENCIES AND INNOVATION DEFINE THE GLOBAL BRANDED FOOD COMPANY’S GROWTH STRATEGY
The New Normal for Snacks
THE POST-PANDEMIC CONSUMER WILL DEMAND BETTER-FOR-YOU MEAL SOLUTIONS MORE THAN EVER BEFORE.
The rise of superfoods and ways to mainstream them on retail shelves
WHAT ARE SUPERFOODS AND THEIR BENEFITS AND WHY THESE PRODUCTS ARE WITNESSING A HUGE SURGE IN DEMAND? WHAT ARE THE CHALLENGES OF INFUSING THESE SUPERFOODS INTO OUR TRADITIONAL FOOD PRODUCTS, AND HOW CAN THEIR VISIBILITY AND AWARENESS BE RAMPED UP IN ON-GROUND SHELVES OF SUPERMARKETS AND RETAIL COUNTERS?
What is driving consumers to become more conscious of what they eat?
WITH CONSUMERS BECOMING MORE HEALTH-CONSCIOUS, RETAILERS HAVE ALSO STARTED MAKING SHIFTS IN THEIR OWN MERCHANDISING AND MARKETING TO KEEP UP WITH THE TREND.
