Professional Documents
Culture Documents
Retailing in India
Retailing in India
Euromonitor International
March 2019
RETAILING IN INDIA Passport I
© Euromonitor International
RETAILING IN INDIA Passport II
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RETAILING IN INDIA Passport III
Table 62 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space
2018-2023 .................................................................................................. 30
Table 63 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space:
% Growth 2018-2023 ................................................................................. 30
Table 64 Forecast Sales in Grocery Retailers by Channel: Value 2018-2023 .......... 30
Table 65 Forecast Sales in Grocery Retailers by Channel: % Value Growth
2018-2023 .................................................................................................. 30
Table 66 Forecast Grocery Retailers Outlets by Channel: Units 2018-2023 ............. 31
Table 67 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2018-
2023 ........................................................................................................... 31
Table 68 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling
Space 2018-2023 ....................................................................................... 31
Table 69 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling
Space: % Growth 2018-2023 ..................................................................... 32
Table 70 Forecast Sales in Non-Grocery Specialists by Channel: Value 2018-
2023 ........................................................................................................... 32
Table 71 Forecast Sales in Non-Grocery Specialists by Channel: % Value
Growth 2018-2023 ..................................................................................... 32
Table 72 Forecast Non-Grocery Specialists Outlets by Channel: Units 2018-
2023 ........................................................................................................... 33
Table 73 Forecast Non-Grocery Specialists Outlets by Channel: % Unit Growth
2018-2023 .................................................................................................. 33
Table 74 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space
2018-2023 .................................................................................................. 33
Table 75 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: %
Growth 2018-2023 ..................................................................................... 34
Table 76 Forecast Sales in Mixed Retailers by Channel: Value 2018-2023 .............. 34
Table 77 Forecast Sales in Mixed Retailers by Channel: % Value Growth 2018-
2023 ........................................................................................................... 34
Table 78 Forecast Mixed Retailers Outlets by Channel: Units 2018-2023 ................ 34
Table 79 Forecast Mixed Retailers Outlets by Channel: % Unit Growth 2018-
2023 ........................................................................................................... 35
Definitions................................................................................................................................... 35
Sources ...................................................................................................................................... 35
Summary 2 Research Sources ...................................................................................... 35
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RETAILING IN INDIA Passport 1
RETAILING IN INDIA
EXECUTIVE SUMMARY
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RETAILING IN INDIA Passport 2
OPERATING ENVIRONMENT
Informal Retailing
Informal retailing continued to flourish in India in 2018. It continued to account for a
considerable share of retailing in India in terms of value sales because of its easy availability
and the low prices offered by such retailers.
Non-grocery specialists, especially electronics and appliance specialist retailers, apparel and
footwear specialist retailers and health and beauty specialist retailers, are the most affected
by informal retailing. The products available range from fake products to grey market products
to black market products. Consumers who cannot afford to buy original brands, e.g. Nike,
Reebok, adidas, Zara, Forever 21 and many others, prefer to buy them from an informal
retailer due to their aspirational desires. This has led non-grocery specialists to suffer the
most from informal retailing.
The concept of informal retailing is popular in India because of the large rural population. Most
of the rural population in India continues to live in poor economic conditions, which is why
informal retailing is preferred – purely due to the low prices.
Informal retailing primarily attracts consumers from the lower economic strata, as generally
the price and the quality are both low. Middle-income and affluent consumers do not tend to
use informal retailing.
Opening Hours
Retail opening hours in India tend to vary between rural and urban areas of the country. In
India’s rural areas, the opening hours for retail outlets are generally between 07.00hrs and
19.00hrs. However, in urban areas, retail outlets are generally open for longer. Retail outlets
in India’s major metropolitan cities tend to be open between 08.00hrs and 22.00hrs. These
times, however, vary from city to city, and depend to a substantial degree on the commercial
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RETAILING IN INDIA Passport 3
laws of the state in which the city is located. However, in smaller Indian cities, such as
second- and third-tier cities, retail outlets are generally open between 08.00hrs and 20.00hrs.
On national holidays, including Republic Day on 26 January, Independence Day on 15 August
and Gandhi Jayanti on 2 October, retail outlets are usually closed until 16.30hrs, at which
point they generally open as normal. However, there are no strict laws in place in India
governing the number of days per year that retail outlets can remain open.
In India, 24-hour retailing is common mainly amongst chemists/pharmacies, although this is
generally limited to major cities and metropolitan cities. A limited number of convenience
stores in India are also open 24 hours a day; however, the number of such stores remains
quite low, and again, the spread of these outlets is restricted to India’s major cities. This is
likely to change during the forecast period, however, as increasing numbers of Indian
retailers, especially modern grocery retailers, are expected to remain open 24 hours a day, as
changing lifestyles and more intense and irregular working schedules are creating demand for
24-hour retailers in the country.
S N 0 0 0 1
uper o 8.00 6.00 8.00 1.00
mar - - - -
kets 23.0 23.0 22.0 17.0
0hrs 0hrs 0hrs 0hrs
C N 0 0 0 0
onv o 7.00 7.00 7.00 7.00
enie - - - -
nce 02.0 02.0 02.0 02.0
stor 0hrs 0hrs 0hrs 0hrs
es
F N 1 1 1 1
orec o 0.00 0.00 0.00 0.00
ourt - - - -
retai 22.0 22.0 21.0 21.0
lers 0hrs 0hrs 0hrs 0hrs
H N 1 1 1 1
yper o 0.00 0.00 0.00 0.00
mar - - - -
kets 22.0 22.0 21.0 21.0
0hrs 0hrs 0hrs 0hrs
F N 1 1 1 1
ood/ o 0.00 0.00 0.00 0.00
drin - - - -
k/to 22.0 22.0 22.0 22.0
© Euromonitor International
RETAILING IN INDIA Passport 4
In N 1 1 1 1
dep o 1.00 1.00 1.00 1.00
end - - - -
ent 22.0 22.0 22.0 22.0
sma 0hrs 0hrs 0hrs 0hrs
ll
groc
ers
Ot N 0 0 0 0
her o 9.00 9.00 9.00 9.00
groc - - - -
ery 19.0 19.0 19.0 19.0
retai 0hrs 0hrs 0hrs 0hrs
lers
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RETAILING IN INDIA Passport 5
Seasonality
Diwali
Shopping season: November (Diwali).
Primary products bought: Consumer electronics and appliances, apparel and footwear and
leisure and personal goods are the leading consumer durables purchased during the Diwali
season sales. Specialist retailers and internet retailers earn most of their year’s sales during
these two months.
Retailer strategy: Retailers generally offer big discounts and cash back to attract consumers
to their outlets during this season. Almost every retailer and manufacturer slashes prices
during the Diwali season, and they advertise heavily via every media possible.
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RETAILING IN INDIA Passport 6
Mobile payment picked up significantly post-demonetisation. However, once liquid cash was
back in the economy consumers returned to cash. A successful result of demonetisation was
rising awareness of mobile wallets, which witnessed a distinct increase post-demonetisation.
Shipping in India is dominated by logistics companies and retailers themselves, which have
their own delivery staff. Generally, consumers do not select the company for shipping; the
retailer already has a tie-up with a shipping company and takes care of the cost of delivery.
The primary method of payment for goods online continues to be cash on delivery. Shipping is
always taken care of by the retailer; hence does not have a strong effect on payment or e-
commerce.
MARKET DATA
Table 1 Sales in Retailing by Store-based vs Non-Store: Value 2013-2018
INR bn
2013 2014 2015 2016 2017 2018
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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
INR bn
2013 2014 2015 2016 2017 2018
'000 outlets
2013 2014 2015 2016 2017 2018
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RETAILING IN INDIA Passport 8
Note 2: Off-price retailing not included in store-based retailing total to avoid double counting as off-price retailing
is a duplicate category already accounted for within apparel and footwear specialists and department
stores.
% unit growth
2017/18 2013-18 CAGR 2013/18 Total
INR bn
2013 2014 2015 2016 2017 2018
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RETAILING IN INDIA Passport 9
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2013-2018
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2013-2018
% growth
2017/18 2013-18 CAGR 2013/18 Total
INR bn
2013 2014 2015 2016 2017 2018
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Discounters - - -
Forecourt Retailers 7.2 6.5 36.8
Hypermarkets 5.1 15.0 101.6
Supermarkets 8.2 11.7 74.2
Modern Grocery Retailers 7.2 13.9 92.1
Traditional Grocery Retailers 6.5 9.3 55.8
Grocery Retailers 6.5 9.4 56.6
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
'000 outlets
2013 2014 2015 2016 2017 2018
% unit growth
2017/18 2013-18 CAGR 2013/18 Total
Table 15 Non-Grocery Specialists: Value Sales, Outlets and Selling Space 2013-2018
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Table 16 Non-Grocery Specialists: Value Sales, Outlets and Selling Space: % Growth 2013-
2018
% growth
2017/18 2013-18 CAGR 2013/18 Total
INR bn
2013 2014 2015 2016 2017 2018
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RETAILING IN INDIA Passport 12
'000 outlets
2013 2014 2015 2016 2017 2018
% unit growth
2017/18 2013-18 CAGR 2013/18 Total
Table 21 Mixed Retailers: Value Sales, Outlets and Selling Space 2013-2018
Table 22 Mixed Retailers: Value Sales, Outlets and Selling Space: % Growth 2013-2018
% growth
2017/18 2013-18 CAGR 2013/18 Total
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RETAILING IN INDIA Passport 13
INR bn
2013 2014 2015 2016 2017 2018
'000 outlets
2013 2014 2015 2016 2017 2018
% unit growth
2017/18 2013-18 CAGR 2013/18 Total
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RETAILING IN INDIA Passport 14
Variety Stores - - -
Warehouse Clubs - - -
Mixed Retailers 12.2 14.9 100.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
© Euromonitor International
RETAILING IN INDIA Passport 15
sites/outlets
Brand (GBO) Company (NBO) 2015 2016 2017 2018
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RETAILING IN INDIA Passport 16
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RETAILING IN INDIA Passport 18
sites/outlets
Brand (GBO) Company (NBO) 2015 2016 2017 2018
More (Aditya Birla Aditya Birla Retail Ltd 500 506 523 543
Group)
Reliance (Reliance Reliance Retail Ltd 480 450 423 430
Group)
Big Bazaar (Future Future Retail Ltd - 231 259 270
Group)
D-Mart Avenue Supermarts Ltd 89 110 141 167
Spencer's (RPG Group) Spencer's Retail Ltd 136 129 123 120
Big Bazaar (Future Future Value Retail Ltd 211 - - -
Group)
Big Bazaar (Future Pantaloon Retail India - - - -
Group) Ltd
Others Others 12,559,970 12,628, 12,700, 12,776,
680 436 045
Total Total 12,561,386 12,630, 12,701, 12,777,
106 905 575
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
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RETAILING IN INDIA Passport 19
© Euromonitor International
RETAILING IN INDIA Passport 20
sites/outlets
Brand (GBO) Company (NBO) 2015 2016 2017 2018
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Interio (Godrej Godrej & Boyce Mfg Co Ltd 154 170 175 180
Group)
Spice Hotspot (S Spice Retail Ltd 325 275 190 125
Mobility Ltd)
Croma (Tata Group) Infiniti Retail Ltd 97 91 105 112
Brand Factory Future Lifestyle 40 52 60 105
(Future Group) Fashions Ltd
LG Shoppe (LG Corp) LG Electronics India 102 100 95 90
Pvt Ltd
Vijay Sales Vijay Sales Ltd 65 68 73 76
Sony Centre (Sony Sony India Pvt Ltd 177 97 75 50
Corp)
Vimal (Reliance Reliance Retail Ltd 122 50 48 47
Group)
The MobileStore MobileStore Ltd, The 857 610 250 -
(Essar Group)
Others Others 2,333,636 2,516,672 2,706,847 2,913,486
Total Total 2,343,735 2,527,531 2,718,126 2,925,379
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
© Euromonitor International
RETAILING IN INDIA Passport 22
Corp)
The MobileStore MobileStore Ltd, The 77.1 54.9 22.5 -
(Essar Group)
Others Others 200,291.9 217,918.6 236,249.3 255,113.8
Total Total 202,909.9 220,769.6 239,455.6 258,740.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
trade interviews, trade sources
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sites/outlets
Brand (GBO) Company (NBO) 2015 2016 2017 2018
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RETAILING IN INDIA Passport 24
INR bn
2018 2019 2020 2021 2022 2023
INR bn
2018 2019 2020 2021 2022 2023
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Note 3: Off-price retailing not included in store-based retailing total to avoid double counting as off-price retailing
is a duplicate category already accounted for within apparel and footwear specialists and department
stores.
Note 4: No forecast data available for luxury and off-price retailing.
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sites/outlets
Brand (GBO) Company (NBO) 2015 2016 2017 2018
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RETAILING IN INDIA Passport 27
INR bn
2018 2019 2020 2021 2022 2023
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INR bn
2018 2019 2020 2021 2022 2023
'000 outlets
2018 2019 2020 2021 2022 2023
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RETAILING IN INDIA Passport 29
Note 2: Off-price retailing not included in store-based retailing total to avoid double counting as off-price retailing
is a duplicate category already accounted for within apparel and footwear specialists and department
stores.
Note 3: No forecast data available for luxury and off-price retailing.
% unit growth
2018/19 2018-23 CAGR 2018/23 Total
INR bn
2018 2019 2020 2021 2022 2023
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Table 62 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2018-2023
Table 63 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2018-
2023
% growth
2018/19 2018-23 CAGR 2018/23 Total
INR bn
2018 2019 2020 2021 2022 2023
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'000 outlets
2018 2019 2020 2021 2022 2023
% unit growth
2018/19 2018-23 CAGR 2018/23 Total
Table 68 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space 2018-2023
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Table 69 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth
2018-2023
% growth
2018/19 2018-23 CAGR 2018/23 Total
INR bn
2018 2019 2020 2021 2022 2023
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Retailers
Other Non-Grocery Specialists 5.7 5.3 29.2
Non-Grocery Specialists 9.4 8.9 53.4
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
'000 outlets
2018 2019 2020 2021 2022 2023
% unit growth
2018/19 2018-23 CAGR 2018/23 Total
Table 74 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space 2018-2023
© Euromonitor International
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Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: Forecast value data in constant terms
Table 75 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2018-
2023
% growth
2018/19 2018-23 CAGR 2018/23 Total
INR bn
2018 2019 2020 2021 2022 2023
'000 outlets
2018 2019 2020 2021 2022 2023
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% unit growth
2018/19 2018-23 CAGR 2018/23 Total
DEFINITIONS
Explanations of words and/or terminology used in this report are as follows:
Kirana stores: Independent small grocers.
Other terminology:
GBO refers to global brand owner, which is the ultimate owner of a brand.
NBO refers to national brand owner, which is the company licensed to distribute a brand on
behalf of a GBO. The NBO may be a subsidiary of a GBO or it may be a separate company.
Share tables at both GBO and at NBO level are provided in the report. Reference to shares in
the report analysis is at NBO level.
SOURCES
Sources used during the research included the following:
Domain B
E Retail Biz
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Financial Express
ICICI Direct
IIFL
Images Retail
India Retailing
IndiaRetailBiz
Inside Franchising
Money Control
Nam News
News 4 sites
Newsvision
Pitch
Retail Angle
Retail Yatra
Retailbiz
Retailing 360
Telegraph
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