Indian retail will be as today’s GDP
After Jio became India’s number one mobile brand, Reliance wants to dominate Indian retail. It launched Jiomart to select customers with 50,000 grocery products, free home delivery and a return policy. India’s retail is world’s fastest growing retail market.
Before it launched Jiomart Reliance Retail was already India’s biggest retail brand with a valuation of INR Rs 2.5 lacs crore. It’s bigger than HDFC, ICICI Bank, Kotak and SBI. Its nearest competitors are: 1. Dmart: 1.2 lacs cr. 2. Vmart: 3000 cr. 3. Trent: 18,000 cr. 4. ABFRL: 18,000 cr. 5. Spencer Retail: 400 cr. 6. Future Retail: 17,000 cr. 7. Total: 1,76,400 cr. ( Source: Meet Shah
Indian retail industry reached to Rs 66.39 lakh crore (US$ 950 billion) in 2018, and expected to reach Rs 76.87 lakh crore (US$ 1.1 trillion) by 2020. Only 12% of India’s retail sector is organised. Online retail penetrates only 2% of India’s market. While online retail will grow at 31% annually, and retail will grow at 13%. Market will see more brands such as 37 Krishna Supermarche. It started as a singe outlet mom-shop store. Today it has six stores in Delhi-NCR.