The total retail market in India is estimated to be around $780 billion, which accounts for 10% of the country’s GDP.
However, this is only getting better every single day and in February 2022, the North region of India showed the highest sales growth of 17 percent in the retail industry. In comparison, the South region of India witnessed sales growth of four percent in that year. This is a promising figure and shows a lot of growth all across India and it does present a very positive environment too. What is humbling is that this growth comes after almost 2 years given the pandemic and all the lockdowns.
Retail was significantly not in its best phase during the pandemic, but the push it received post lockdown, turned out to be a big marker to the changes that we were expecting within the retail domain in the time to come. Our recently concluded on-ground events and the full house audience that we got to welcome at Renaissance during the 6th and 7th of April made us hopeful too. After a long hiatus of only working with online events, we finally broke free and got on the ground once again.
New Normal is helping retail grow at every turn and it is very promising to see how brands are responding to the changes today. Be it the D2C ecosystem or the traditional retail changing its course to stay afoot with the changing times, a lot is happening and we are eagerly witnessing all these and more to learn a thing or two.
Times are promising and we have planned a full year of events to discuss, debate, and stir a conversation around retail and its varied aspects. Be it the Shopping Centre Next event scheduled for the 12th of May in Goa or the next session of PRC due in August or even the ICS scheduled for November, we are waiting to welcome our esteemed patrons from the industry to be a part of these events to make them a grand success.
Come, join us as we together script a new chapter in the history of retail in India.