2025印度零售行业研究报告

Executive summary (1/2) Executive summary (2/2) Advantage India Advantage India 1. Robust Demand 4. Increasing Investment •RelianceIndustries,India’slargestretailer,statedthatthecountryissettoemergeastheworld’s •DuetoIndia’swealthofresources,availabilityoflabouratrelativelylowcosts,andspecialinvestmentwages such tax breaks,etc., third-largestretailmarketby2030,supportedbygovernmentinitiativesaimedatenhancing •India’s retail sector is on track to exceed Rs.1,37,10,400crore(US$1.6trillion)by2030fromRs.81,57,859crore(US$952billion)in2024. •Amazonis increasingitsinvestmentinIndiabyUS$15billionoverthenextsevenyearsfrom2023,bringingitstotalinvestmenttoUS$ •India’s organised retail sector is expandingrapidly.It is projected to reach Rs.19,70,870crore(US$230 billion)by 2030 from Rs. •India’s retail trading sector attracted Rs.35,292crore(US$4.86billion)FDIsbetweenApril2000-June2025. 11,31,108crore(US$132billion)in2024,drivenbyrising disposable incomes and evolvingconsumerpreferences,according to a Deloitte- •The retail sector in India accounts for over10%ofthecountry’sGDPandaround8%oftheworkforce(35+million).Itisexpectedto •India'sretailsectorleasingsurgedto3.2millionsquarefeet in Q3 2025,marking a 65%YoYgrowthacrossthetopsevencities.Delhi-NCRledtheleasingwithnewmallconstructions,facilitatingnew store openings in key micromarkets.D2C brands are expanding their •In August 2025,Reliance Retail announcedplansto invest Rs.40,000 crore(US$4.67billion)over three years to set up Asia’slargestintegrated food parks,leveraging AI,roboticsandsustainabletechnologiestodriveitstarget of Rs.1,00,000 crore(US$11.67 •AsofFY25,India’shasthethirdhighestnumberofe-retailshoppersglobally. 2. Innovation in financing 3. Policy Support •Collectiveeffortsoffinancialhousesandbankswithretailersareenablingconsumersto •Toimprovethebusinessclimateandmakeitsimplerfor foreign companies to registerfullyownedsubsidiariesinIndia,theIndiangovernmenthasimplementedanumberof •India’sconsumerandretailsectorclosed139dealsworthRs.32,562crore(US$3.8billion)inQ1CY25markinga65%surgeindealvolumeanda29%riseinvalueoverthepreviousquarter,ledbymajordealssuchasTemasek’sRs.8,569crore(US$1 Market Overview and Trends Evolution of retail in India ▪India’s retail trading sector attracted Rs.41,645 crore(US$4.86 billion)FDIs betweenApril2000-June2025.▪Retail2020:Retrospect,Reinvent,Rewrite▪Movementtosmallercitiesandruralareas▪Large-scaleentryofinternationalbrands▪ApprovalofFDIlimitinmulti-brandretailupto51% Retail formats in India Competitive landscape in Indian retail sector 1. Departmental stores 5. Cash and carry stores ▪Pantaloons has 400+stores in 190towns/cities. ▪Westside operates over 248 storesacross82citiesasofMarch2025.▪ShoppersStophas117stores&Lifestyleoperatesacross107storesinIndia.▪As of March 2025,Reliance Retailoperates19,340 stores across with a ▪Metrostartedthecash andcarrymodelinIndia-operates 31 stores across Mumbai,Kolkata,Delhi,Punjab,Hyderabad and Bengaluru.▪RelianceRetailoperates52cashandcarry 2. Hypermarkets ▪AsofMarch31,2025,AdityaBirlaGroup’sfashionarm spans 12 million sq.ft.with4,420 stores,37,000+multi-brand outletsand7,000+shop-in-shopsacrossIndia. 4. Specialty stores ▪Asof July2025,Titan Company’s brandportfoliospans3,322storesnationwide.▪AsofFebruary2025,VijaySalesoperates108storesacrossIndia.▪As of May 2025,Crossword Bookstoresoperates120 stores across 40 cities in ▪Trent’s Star Bazaar is set to expand itsfootprintfrom72supermarketsinQ1FY25toaround90storesbytheendof2024,with alonger-term goal of reaching 110-120outletsacross15-20citiesbyFY26.▪Spencer’sRetailhas131storesacross27citiesinthecountryasofMarch2025. 3.Supermarkets/ convenience stores ▪StarBazaar(72stores).▪Dmart(415stores).▪VishalMegaMart(696stores). Strong growth in the Indian retail industry ▪India is one of the most promising and developing marketplaces in theworld.ThereisagreatdealofdesireamongmultinationalcorporationstotakeadvantageoftheconsumerbaseinIndiaandtoenterthemarketfirst.DuetoIndia’swealthofresources,availabilityof labouratrelativelylowcosts,and special investment wages such tax breaks,etc.,foreign ▪TheIndianretail sector recorded a 5%sales growth inDecember 2024comparedtothepreviousyear'sfestiveperiod,withSouthIndialeadingat6%,followedbyWestandNorthIndiaat5%andEastIndiaat4%. ▪TheannualinflationratebasedonallIndiaConsumerPriceIndex(CPI)numberis1.55%forthemonthofJuly2025.InJuly2025,ruralfoodinflationstoodat-1.74%,whileurbanfoodinflationwas-1.90%. ▪India’sretailsectorisontracktoexceedRs.1,37,10,400crore(US$1.6trillion)by2030fromRs.81,57,859crore(US$952billion)in2024,withorganisedretailersexpectedtocaptureover35%ofthetotalmarket. ▪India is the third largest and a preferred retail destination globally.Thecountryisamongthehighestintheworldintermsofpercapitaretailstoreavailability. ▪India’sdirectsellingindustryachievedsalesofRs.22,142crore(US$2.58billion)in FY24,reflecting a 4.4%YoYgrowth,as per the Indian DirectSellingAsso