![Taking Stock of India's Value Retail Market](https://cdn.magzter.com/Images Retail/1721736919/articles/83sEIiv-s1721739768963/TAKING-STOCK-OF-INDIAS-VALUE-RETAIL-MARKET.jpg)
India's value retail sector has undergone a remarkable transformation over the past decade. Currently pegged at US$112 billion, the market will likely surge to US$170 billion by 2026, according to a Wazir Advisors report. This segment is set to grow at a CAGR (Compound and Annual Growth Rate) of 15%, surpassing the overall retail sector's expected 10% CAGR. The overall retail market grew from approximately $490 billion in 2011 to over $1 trillion in 2022. Value retail contributed substantially to this, growing at a CAGR of around 15-20% during this period.
"The rise in digital integration, personalized shopping, and sustainability has evolved the growth of value-retail as a segment," said Vineet Jain, COO, V-Mart.
This evolution has been driven by a surge in consumer demand for affordable yet quality products, rapid urbanisation, and an expanding middle class with rising disposable incomes. As a result, several value retail brands have not only emerged but also thrived, each employing unique strategies to capture and sustain market share.
Following the success of Zudio from Trent Ltd., many large retailers entered the game. Reliance Retail brought Yousta, Aditya Birla Fashion & Retail Ltd. opened StyleUp, and Shoppers Stop launched InTune all focusing on affordable clothing, footwear, and accessories.
Other players like D-Mart, V-Mart, V-Bazaar and Vishal Mega Mart too expanded their value retail offerings.
Factors
The future of value retail in India looks promising, with continued growth driven by urbanization, increasing disposable incomes, and evolving consumer preferences. To stay competitive, value retailers are focusing on innovation, operational efficiency, and customer-centric strategies. They are embracing technology, such as Al-driven insights and e-commerce integration to understand and meet consumer needs.
Denne historien er fra July 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
![Retail Sector Records Strongest Hi Leasing in 5 years: CBRE](https://reseuro.magzter.com/100x125/articles/95/1804931/sYcQzvt7U1724157391572/RETAIL-SECTOR-RECORDS-STRONGEST-HI-LEASING-IN-5-YEARS-CBRE.jpg)
Retail Sector Records Strongest Hi Leasing in 5 years: CBRE
Leasing in Bengaluru, Chennai, and Delhi-NCR accounted for 59% share during Jan-June 2024.
![Lulu Mall Bengaluru Welcomes 5 New Brands](https://reseuro.magzter.com/100x125/articles/95/1804931/44gBf59op1724157297021/LULU-MALL-BENGALURU-WELCOMES-5-NEW-BRANDS.jpg)
Lulu Mall Bengaluru Welcomes 5 New Brands
Lulu Mall, Bengaluru, operated by the multinational developer Lulu Group, has expanded its portfolio by welcoming five new retail brands, the company wrote on social media.
![Gujarat gets its First IMAX at Palladium Ahmedabad](https://reseuro.magzter.com/100x125/articles/95/1804931/UPXc4cTFt1724157232407/GUJARAT-GETS-ITS-FIRST-IMAX-AT-PALLADIUM-AHMEDABAD.jpg)
Gujarat gets its First IMAX at Palladium Ahmedabad
Mumbai-based PVR Cinemas opened a new theatre at Palladium Ahmedabad, a social media post by a company official.
![Budget 2024-2025: What's in it for Retail?](https://reseuro.magzter.com/100x125/articles/95/1804931/KIuIYQqvB1724155962941/BUDGET-20242025-WHATS-IN-IT-FOR-RETAIL.jpg)
Budget 2024-2025: What's in it for Retail?
An overview of all the retail ecosystem-related measures in the Budget 2024-2025 revealed by Finance Minister Nirmala Sitharaman in her 7th budget speech.
![Identity As a Service (IDAAS) Simplified](https://reseuro.magzter.com/100x125/articles/95/1804931/2OreY5Vai1724155769702/IDENTITY-AS-A-SERVICE-IDAAS-SIMPLIFIED.jpg)
Identity As a Service (IDAAS) Simplified
An explainer on Identity and Access Management-As-A-Service (IDaaS) in the context of retail.
![6 Ways in Which D2C Brands are Redefining Physical Stores](https://reseuro.magzter.com/100x125/articles/95/1804931/PbodCLl2Y1724155492529/6-WAYS-IN-WHICH-D2C-BRANDS-ARE-REDEFINING-PHYSICAL-STORES.jpg)
6 Ways in Which D2C Brands are Redefining Physical Stores
From quirky fixtures to restageable elements, D2C brands do it differently when they open brick-and-mortar stores
![What Innovation Means for Different Leaders](https://reseuro.magzter.com/100x125/articles/95/1804931/BYHiU_4Sz1724155388219/WHAT-INNOVATION-MEANS-FOR-DIFFERENT-LEADERS.jpg)
What Innovation Means for Different Leaders
A look at how representatives of different retail categories define innovation and how they approach and implement it in their businesses.
![Elevating Experience Through Omnichannel Retail Strategies](https://reseuro.magzter.com/100x125/articles/95/1804931/PQw94CPgh1724155234493/ELEVATING-EXPERIENCE-THROUGH-OMNICHANNEL-RETAIL-STRATEGIES.jpg)
Elevating Experience Through Omnichannel Retail Strategies
Here's how retailers are blending online and offline to offer seamless and personalised customer experience.
![How to Improve Customer Engagement with Generative AI](https://reseuro.magzter.com/100x125/articles/95/1804931/4gO93nsPR1724154991648/HOW-TO-IMPROVE-CUSTOMER-ENGAGEMENT-WITH-GENERATIVE-AI.jpg)
How to Improve Customer Engagement with Generative AI
Ways in which retail businesses can embrace generative AI to create hyper-personalised, seamless conversations to secure a lasting competitive edge in the marketplace.
!['Customers Do Not See Shoppers Stop.com as Just Another e-commerce Site'](https://reseuro.magzter.com/100x125/articles/95/1804931/6qqImd9Id1724154779922/CUSTOMERS-DO-NOT-SEE-SHOPPERS-STOPCOM-AS-JUST-ANOTHER-ECOMMERCE-SITE.jpg)
'Customers Do Not See Shoppers Stop.com as Just Another e-commerce Site'
Sreekanth Chetlur, Chief e-commerce Officer, Shoppers Stop speaks about the three-decadeold physical-first department store chain's e-commerce journey, goals and strategies