RetailTrends

Global Brands and Retailers Are Expanding into India’s Lucrative Market

India's retail sector is emerging as a lucrative market, attracting many global brands and retailers eager to expand their footprint.

Published: May 31, 2024 9:45 AM

By Jeanel Alvarado

RetailTrends

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RetailTrends

Global Brands and Retailers Are Expanding into India’s Lucrative Market

India’s retail sector is emerging as a lucrative market, attracting many global brands and retailers eager to expand their footprint. The Indian market is currently the fourth largest in the world. As of 2022, its retail market size stood at an impressive INR 91,891 billion, contributing over 10% to the nation’s GDP. This growth trajectory is expected to continue, with projections indicating a CAGR of more than 13% by 2027.

Tier 2 cities are also witnessing increased discretionary spending and footfalls. Uniqlo opened its first store in Chandigarh, Tim Hortons entered Ludhiana, and Starbucks, Biba, and Shoppers Stop have expanded into Dehradun.

Let’s dive into the latest trends shaping the future of retail in India and highlight the global brands set to debut in the country over the next two years. Factors Driving Retail Growth in India Several factors are influencing the growth of the retail sector in India.

Infrastructure development, economic growth, and changing consumer demographics are key drivers. Additionally, strategic store locations, effective management, and competitive salaries for personnel are contributing to the sector’s expansion.

Recent trends highlight a surge in retail leasing activity, particularly in the fashion and apparel sectors, reflecting growing consumer confidence. Technological advancements and experiential retail are reshaping the landscape, offering personalized experiences and hassle-free services…

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