Relentless March of Evolution

Evolution is unstoppable. The entire Universe itself seems to support evolution with all its focus and force. That is why the earth today is ruled by Homo sapiens though the micro-organisms had a distinct first mover advantage. Evolution enhances the sophistication of life, no doubt, but it also makes living easier through excellent organisation and intelligent design. 

Everything evolves. Retail is no exception!

Indian Retail Sector

The word ‘retail’ is derived from the French verb ‘tailler’, meaning ‘to cut off’ in terms of tailoring. It is the sale of products in small quantities to the final consumers.  The retail sector in India is a coexistence of the modern organised retailers and the traditional unorganised retailers or kirana stores. While the kirana is often conveniently located, has a low-cost structure and customer intimacy, modern retailers offer product width and depth with an enhanced shopping experience.

As of 2020, India’s retail market was 12% organised. But the pandemic changed that and accelerated the growth of organised retail. By 2025, approximately 30-35% of the Indian retail market will be organised.

You may ask – How are we so confident?

Changes Driving the Revolution and Evolution

To start with, organised retail in India has been growing at an average compound annual growth rate (CAGR) of 26% with furniture & furnishings growing at about 12% and pharmacy growing at a whopping 41%. Being leaders in custom designing, manufacturing and installing high-quality fixtures & furniture in consumer environments, we have seen this growth first-hand over the past decade.

Income levels have been rising with more people choosing to build a career, more women entering the workforce and thus, dual incomes in families. The per capita GDP (gross domestic product) in India has grown at an inflation-adjusted 60% in the last decade.

The mindsets of consumers too have undergone paradigm shifts where they increasingly prefer convenience and comfort in their shopping experience. The consumer today is well-informed, looks out for bargains and additional perks and is not hesitant to use credit cards. There is also an increased brand-consciousness and brand-awareness.

Organised Retail – Ticking All Boxes

Organised retail is tailor-made to fulfil all consumer aspirations. With all products across brands well classified and available in a single space, it offers the choice, convenience and comfort that a kirana shop or mom-and-pop store can never have.

It is entirely self-service which allows the shoppers to indulge in an experience or quickly pick and leave as per their preference. The store ambience created with masterful merchandising and lights adds to the experience.

These large super-stores offer the best deals thanks to their bargaining power. They also offer other perks like quick, computerised billing and facilities like parking space and acceptance of credit cards.

Finally, the consumer receives value added services like memberships, customisation and home delivery which are almost absent in unorganised retail.

Organised Retail – Here To Grow

Having catered to the furniture & fixture requirements of many renowned brands including FABIndia, Flying Machine, Soch, BIBA, BBQ Nation, Indian Terrain and the list is endless, we can confidently say that the retail revolution and evolution is ON in India.