The future of retail in India is likely to be more franchise-driven, as this model offers a number of advantages for both franchisors and franchisees. Let’s read on to know more about the factors driving the growth of the franchising model in India.
The retail sector in India is experiencing a transformative journey driven by urbanization, localization, convenience, and digitization. With the rise of the millennial generation and their changing preferences, the retail industry has adapted to meet their demands, leading to remarkable growth. This transition from traditional to millennial-driven methods has contributed to a compound annual growth rate (CAGR) of approximately 10% in the Indian retail industry over the past three years.
Here are some interesting details about the retail growth in India in the last 3 years, post-COVID:
The retail industry in India has been growing at a compound annual growth rate (CAGR) of 10-12% in the last 3 years.
The post-COVID retail market in India is expected to grow at a CAGR of 12-15% in the next 5 years.
The franchisee model is becoming a more popular retail model in India, and it is expected to continue to drive growth in the coming years.
The COVID-19 pandemic had a severe impact on the retail industry, but it is now recovering rapidly. The future of retail in India is likely to be more franchise-driven, as this model offers a number of advantages for both franchisors and franchisees.
Some of the factors driving the growth of the franchise model in India include:
This story is from the July 2023 edition of The Franchising World.
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This story is from the July 2023 edition of The Franchising World.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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