Opportunity for the growth of retail outlet in India seems promising

By VARINDIA - 2019-04-23

Opportunity for the growth of retail outlet in India seems promising

With the growing adoption of new-age technologies like internet of things, augmented reality and machine-to-machine communications in enterprise settings, the need for deploying edge computing as a key enabler has also gained greater currency. However, many companies are struggling to keep pace with the technological advances and upgrade their existing infrastructure, often not designed for today’s IT environment. At the same time the growth of e-commerce is fading up in India,with the newer regulations for the foreign players entered India and at the same time it has witnessed a large volume of pirated goods to ship by the portals, this brings the attention for the growth of brick and mortar shops to come up.

 

Where is the opportunity for the Off-line market growth?

 

With the rapid growth and awareness of middle class income groups and exposure to the digital medium, in result the transformation has seen in the sector of e-commerce. Various Mobile phone brands (450 brands are present in India as on date) and fashion brands (300 brands to hit India) are opening the stores across the country at faster speed.

 


Secondly, it has also seen in the increasingly powerful manufacturing sector and by 2019 it is expected that, India will take centre stage in Asia ,as per a report of ,said McKinsey's. The report said India remains a complex market which presents challenges as well as opportunities.



The country is being propelled by strong macroeconomic tailwinds and is predicted to grow at 8 per cent a year between 2018 and 2022. The Indian middle class is forecast to expand at 19.4 per cent a year, outpacing China, Mexico and Brazil.


"As a result, India is set to move from being an increasingly important sourcing hub to being one of the most attractive consumer markets outside the Western world."

 


India's apparel market will be worth 59.3 billion dollars (about Rs 4.12 lakh crore) in 2022, making it the sixth-largest in the world and comparable to Britain 65 billion dollars (Rs 4.51 lakh crore) and Germany 63.1 billion dollars (Rs 4.38 lakh crore), as per the data from McKinsey's FashionScope city-level growth forecasting tool.




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