News Excerpt:
The e-tail sector in India, which is expected to be nearly USD 60 billion in the financial year 2023-24, is projected to grow at a compounded annual growth rate (CAGR) of 18% by 2028-29, according to a report by Knight Frank India, a property consultancy firm.
Key highlights of the report:
- The findings were part of a report released by Knight Frank titled 'Think India Think Retail 2024'.
- At the current consumption levels across all retail categories, the revenue potential of all shopping centres across Tier 1 and Tier 2 cities is expected to grow at a CAGR of 23% during the same period.
- The compound annual growth rate (CAGR), is the mean annual growth rate of an investment over a specified period of time longer than one year.
- The Indian retail industry is rapidly growing and accounts for 10% of the country's gross domestic product (GDP) and 8% of the workforce.
- The sector is witnessing exponential growth with the development of shopping centres and new retail destinations, not just in major metros but also in Tier 2 cities.
- There is an exciting opportunity for shopping centre developers to capitalize on both Tier 1 and Tier 2 cities.
What is e-tailing?
- E-tailing, also known as electronic retailing or e-retailing, is the process of selling online through digital channels like websites and apps.
- Both physical stores and digital-only businesses participate in e-tail because of the benefits it can deliver, including global reach and 24/7 availability.
