Business Standard

SPONSORED CONTENT

What's this ?

Sponsored Content is a "Paid For" Press Release distribution arrangement. Purely a Commercial Arrangement, brands and advertisers pay to be featured and to get this content published.

The Editorial/Content team at Business Standard has not contributed to writing/editing this article.

To get your brand featured in this Section write to assist@bsmail.in

COVID-19 to redefine focus towards organized retail and e-commerce

ANI Press Release 

Tennis player James Blake
Omaxe

New Delhi [India], October 15 (ANI/NewsVoir): As in the case of all segments, COVID-19 has impacted real estate too. The Unlock 5.0 phase has accelerated the pace towards recovery, and it will not be long before the economy rebounds fully.

The overall health, hygiene and wellness concerns have invariably given a fillip to organized retail due to their ability to ensure adherence to stringent safety and hygiene measures. An India Brand Equity Foundation estimates that organized retail will grow at 18 per cent in 2021 as opposed to 9 per cent in 2017. Similarly, E-commerce will more than double to 7 per cent as compared to 3 per cent in the previous period.

According to a report by ANAROCK and Retailers Association of India (RAI), the demand for essential goods will fuel Indian retail as consumers continue to focus on essential supplies such as food and grocery. The average bill value for essentials has shot up to 1.5 times since the lockdown from Rs 650 per basket in early March to over Rs 900 per basket at present.

The Indian retail industry is currently ranked 4th in the world and contributed 10 per cent to India's GDP and 8 per cent to the overall employment generation in the country. The market size was USD 0.79 trillion in 2019 and is estimated to reach USD 1.75 trillion by 2026, with a CAGR of 9 per cent-11 per cent. However, approximately 88 per cent of the market is in the unorganized segment, while organized and e-commerce accounts for the remaining share.

"There is a huge demand for organised retail in India, currently at 17-18 per cent. Going forward this share is bound to increase owing to shoppers and businesses increasingly preferring cleaner and more hygienic shopping spaces. In this category, commercial redevelopments at the center of a thriving market are fast catching up which not just gives a safe. new-age and organized shopping experience but also maintains the essence and aesthetics of that location. Retail with a 2-3 year delivery timeline has better prospects. Omaxe Chowk in Chandni Chowk is one such example where Omaxe in PPP with North DMC, is developing parking for 2100 plus cars, retail shops, and a food court with modern architecture, amenities and tourism touchpoints to enable shoppers to maximise their stay," said Mohit Goel, CEO, Omaxe Ltd.

With the re-opening of the mall in June after the lockdown, retail categories such as food and grocery, consumer durables and furniture have shown an encouraging response, according to an RAI survey. It also foresees food and grocery to recover faster as compared to other segments of retail.

The leveraging of technology in ensuring contactless and safe shopping experience to customers has become a priority for retailers and mall owners amid the transmission risk of the pandemic.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 15 2020. 18:00 IST
RECOMMENDED FOR YOU

COVID-19 to redefine focus towards organized retail and e-commerce

New Delhi [India], October 15 (ANI/NewsVoir): As in the case of all segments, COVID-19 has impacted real estate too. The Unlock 5.0 phase has accelerated the pace towards recovery, and it will not be long before the economy rebounds fully.

New Delhi [India], October 15 (ANI/NewsVoir): As in the case of all segments, COVID-19 has impacted real estate too. The Unlock 5.0 phase has accelerated the pace towards recovery, and it will not be long before the economy rebounds fully.

The overall health, hygiene and wellness concerns have invariably given a fillip to organized retail due to their ability to ensure adherence to stringent safety and hygiene measures. An India Brand Equity Foundation estimates that organized retail will grow at 18 per cent in 2021 as opposed to 9 per cent in 2017. Similarly, E-commerce will more than double to 7 per cent as compared to 3 per cent in the previous period.

According to a report by ANAROCK and Retailers Association of India (RAI), the demand for essential goods will fuel Indian retail as consumers continue to focus on essential supplies such as food and grocery. The average bill value for essentials has shot up to 1.5 times since the lockdown from Rs 650 per basket in early March to over Rs 900 per basket at present.

The Indian retail industry is currently ranked 4th in the world and contributed 10 per cent to India's GDP and 8 per cent to the overall employment generation in the country. The market size was USD 0.79 trillion in 2019 and is estimated to reach USD 1.75 trillion by 2026, with a CAGR of 9 per cent-11 per cent. However, approximately 88 per cent of the market is in the unorganized segment, while organized and e-commerce accounts for the remaining share.

"There is a huge demand for organised retail in India, currently at 17-18 per cent. Going forward this share is bound to increase owing to shoppers and businesses increasingly preferring cleaner and more hygienic shopping spaces. In this category, commercial redevelopments at the center of a thriving market are fast catching up which not just gives a safe. new-age and organized shopping experience but also maintains the essence and aesthetics of that location. Retail with a 2-3 year delivery timeline has better prospects. Omaxe Chowk in Chandni Chowk is one such example where Omaxe in PPP with North DMC, is developing parking for 2100 plus cars, retail shops, and a food court with modern architecture, amenities and tourism touchpoints to enable shoppers to maximise their stay," said Mohit Goel, CEO, Omaxe Ltd.

With the re-opening of the mall in June after the lockdown, retail categories such as food and grocery, consumer durables and furniture have shown an encouraging response, according to an RAI survey. It also foresees food and grocery to recover faster as compared to other segments of retail.

The leveraging of technology in ensuring contactless and safe shopping experience to customers has become a priority for retailers and mall owners amid the transmission risk of the pandemic.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
image
Business Standard
177 22

COVID-19 to redefine focus towards organized retail and e-commerce

New Delhi [India], October 15 (ANI/NewsVoir): As in the case of all segments, COVID-19 has impacted real estate too. The Unlock 5.0 phase has accelerated the pace towards recovery, and it will not be long before the economy rebounds fully.

The overall health, hygiene and wellness concerns have invariably given a fillip to organized retail due to their ability to ensure adherence to stringent safety and hygiene measures. An India Brand Equity Foundation estimates that organized retail will grow at 18 per cent in 2021 as opposed to 9 per cent in 2017. Similarly, E-commerce will more than double to 7 per cent as compared to 3 per cent in the previous period.

According to a report by ANAROCK and Retailers Association of India (RAI), the demand for essential goods will fuel Indian retail as consumers continue to focus on essential supplies such as food and grocery. The average bill value for essentials has shot up to 1.5 times since the lockdown from Rs 650 per basket in early March to over Rs 900 per basket at present.

The Indian retail industry is currently ranked 4th in the world and contributed 10 per cent to India's GDP and 8 per cent to the overall employment generation in the country. The market size was USD 0.79 trillion in 2019 and is estimated to reach USD 1.75 trillion by 2026, with a CAGR of 9 per cent-11 per cent. However, approximately 88 per cent of the market is in the unorganized segment, while organized and e-commerce accounts for the remaining share.

"There is a huge demand for organised retail in India, currently at 17-18 per cent. Going forward this share is bound to increase owing to shoppers and businesses increasingly preferring cleaner and more hygienic shopping spaces. In this category, commercial redevelopments at the center of a thriving market are fast catching up which not just gives a safe. new-age and organized shopping experience but also maintains the essence and aesthetics of that location. Retail with a 2-3 year delivery timeline has better prospects. Omaxe Chowk in Chandni Chowk is one such example where Omaxe in PPP with North DMC, is developing parking for 2100 plus cars, retail shops, and a food court with modern architecture, amenities and tourism touchpoints to enable shoppers to maximise their stay," said Mohit Goel, CEO, Omaxe Ltd.

With the re-opening of the mall in June after the lockdown, retail categories such as food and grocery, consumer durables and furniture have shown an encouraging response, according to an RAI survey. It also foresees food and grocery to recover faster as compared to other segments of retail.

The leveraging of technology in ensuring contactless and safe shopping experience to customers has become a priority for retailers and mall owners amid the transmission risk of the pandemic.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22