India’s retail market is estimated to reach around $1.3 trillion by 2025, from $0.7 trillion in 2019, growing at a compound annual growth rate (CAGR) of 9-11 percent, driven by socio-demographic and economic factors such as urbanisation, income growth and rise in nuclear families. According to a new report launched by Boston Consulting Group (BCG) in collaboration with Retailers Association of India, retail is expected to cross the trillion-dollar mark on the back of multiple structural, demographic and economic drivers to boost consumption. In its report, BCG said there is increasing popularity of supermarkets and investments by large corporate players such as RPG Group, Future Group, Aditya Birla (More) in modern trade. However, the report added that a decade on, small neighborhood stores continue to be relevant owing to familiarity, proximity and the convenience of monthly credit that these shops offer. Moreover, more retailers have found resonance with smaller format stores. Such a growth in the sector is a new business opportunity for the signage companies engaging in in-store signage and branding projects.
