A Look at India’s Food & Grocery Retail Basket
India is the third-largest food and grocery market in the world. Making up 65 per cent of India’s retail market, the food and grocery segment is a thriving business. Within the food & grocery basket, staples and fresh account for 75-80 per cent of the total food retail spend. Growing at a CAGR of 10.9 per cent, packaged snacks, confectionery, and beverages are also making their mark.
National Investment Promotion and Facilitation Agency Invest India expects the market to grow at a compound annual growth rate (CAGR) of 10 per cent, driven by rising consumption of processed foods, dairy products and premiumisation trends. The Indian e-grocery market, which experienced a turning point during the pandemic, has seen a CAGR of over 30-35 per cent. It is projected to reach $3 billion to $6 billion by 2025, up from $2 billion to $3 billion in 2020.
Overall, the food & grocery retail scene in India tells a positive story. And Reliance Retail Ltd. (RRL) with its 2700 grocery stores (the largest organised player in the segment), is its protagonist, who is rewriting how India experiences, buys and consumes food & grocery. In an exclusive interview, SupermarketWala Damodar Mall, who leads Grocery Retail for RRL, and is Chairman of India Food Forum 2023, shares strategies, aspirations and ambitions for the business—that’s the cover story of this issue, a must-read if you want to understand the approach behind the company’sphenomenal success in the segment.
The other stalwart we are featuring in this issue is the dynamic woman leader Nirupa Shankar who as the Joint Managing Director, heads the office, retail and hotel portfolio of Bengaluru-based real estate major Brigade Group.
Adorning the cover of the Phygital section is IT veteran, Satish Panchapakesan, Senior Vice-President & CIO at Arvind Fashions Ltd. In the cover story, he speaks about the technology transformation at the company, his tech mantra and his future focus.
The issue, as always, has many other features to help you in your business. Happy Reading!