With expansion of modern retail in all parts of the country backed by emerging players on the retail horizon across states and cities, the focus is now shifting from national to regional retail markets. Images Retail has been keen and knowledgeable industry observer of such evolution and is taking lead to map regional retail markets. In the same regard in this issue of Images Retail, we have made an endeavour to analyse and map the retail potential of the Western region.
Western India, with all its potential, continues to be an intriguing destination for retailers, brands, retail realty players, marketer and investors. The growth of organised retail here has been on an upsurge. Over the last one decade, the retail dynamics of the region has changed drastically. The Western states of India hold tremendous possibilities of growth in terms of economical viability, geographical vastness of the market and increasing disposable income. The dynamics of these markets are unique and need in-depth understanding.
The main contributing states in the economy of the region are Gujarat and Maharashtra. Both the states have large population base and sizeable agriculture, industrial, technical and service sector which help them yield major share in economic development of the country. Madhya Pradesh and Goa contribute primarily through their tourism aspect. Goa, especially, earns lot of foreign exchange for the country exclusively through its tourism which attracts people from all over the world. Madhya Pradesh is relatively rich in its natural resources, minerals and agriculture landscape.
In the February issue of Images Retail we bring in forth the key insights on the West India’s demography, market scenario, key regional players, major retailers, leading malls and emerging growth centres of the region. All these factors clubbed together pave the growth path for retail to flourish in Western region.