Mumbai has highest potential for modern retail in India
In this article (4)
Mumbai Metropolitan Metro has the highest potential for modern retail in the country at Rs 1.05 lakh crore, followed by Delhi-National Capital Region, which has total potential of Rs 77,900 crore, according to Knight Frank & Retailers Association of India’s ‘Think India. Think Retail. 2016’ report.
Bengaluru is third in the list, with potential of Rs 48,600 crore.
As part of the city-level analysis, the report has identified zone level supply-demand gap for apparel, F&B, entertainment and grocery across India’s top markets.
It says the penetration of modern retail is set to increase from the current 13.5% to 50% by 2036 in Mumbai, from 26% to 50% by 2028 in NCR and from 24% to 50% in 2026 in Bengaluru.
While the market potential of daily needs supermarkets and hypermarkets is pegged at Rs 58,800 crore in Mumbai and Rs 51,200 crore in NCR, it stands at Rs 24,300 crore in Bengaluru.
The report says that modern retail penetration in India is extremely low at 19% compared to US, Singapore and China, where the figures are 84%, 71% and 63% respectively.
According to the report, 69% of the total retail spending comes from Mumbai Metropolitan Region, NCR and Bengaluru out of the top seven cities in the country.
Questions & Answers
Q.What is the projected increase in modern retail penetration for Mumbai, NCR, and Bengaluru?
What is the projected increase in modern retail penetration for Mumbai, NCR, and Bengaluru?
Modern retail penetration in Mumbai is expected to rise from 13.5% to 50% by 2036. For NCR, it is predicted to increase from 26% to 50% by 2028, and in Bengaluru, it is forecast to grow from 24% to 50% by 2026.
Q.How does India's modern retail penetration compare to other countries?
How does India's modern retail penetration compare to other countries?
India's modern retail penetration is 19%, which is significantly lower than in other countries. The US has 84% penetration, Singapore has 71%, and China stands at 63%.
Q.What is the market potential for daily needs supermarkets and hypermarkets in the top three cities?
What is the market potential for daily needs supermarkets and hypermarkets in the top three cities?
The market potential for daily needs supermarkets and hypermarkets is Rs 58,800 crore in Mumbai. In NCR, it is pegged at Rs 51,200 crore, and for Bengaluru, the potential is Rs 24,300 crore.
Reader pulse
Is Mumbai's growth potential accurate?
23,139 votes so far