Indias Big Opportunity
March 28. 2021
According to reports from Goldman Sachs, India’s grocery online market is expected to grow at an annual rate of 81% through 2024.
Several factors are contributing to this progression, chief amongst them; India’s burgeoning middle class and the coronavirus. Online sales showed huge gains for retailers.
“Kiranas” India’s fabled “mom and pop shop” establishments, which carry staples for villages and towns have been at threat since the incoming of Western grocery supermarket chains as well as local brick and mortar competitors. The latter are building supermarkets, on par with their Western counterparts. However, local digital players are finding ways to immerse them into their ecosystem and offer more competitive and localized services and products.
This sector represents a tremendous opportunity for supermarket chains both international and regional to take advantage of the market. The Indian shopper has become edgier, more discerning and the space will continue to heat up. FlipKart, Amazon, JioMart are leading examples within the country.