Retail 2024: 10 Trends in India Retail

Published – January 2024

The Coresight Research Retail 2024 series of reports looks ahead to the prospects for retail in 2024, exploring key trends by geography (namely, the US, the UK, China and India) and sector. We will also discuss trends in healthcare and technology.

In this report, we present 10 trends that will influence India’s retail sector in 2024 and beyond, helping brands and retailers capitalize on key opportunities amid the highly fragmented and rapidly changing sector.

Data in this research report include:

• GMV of e-commerce sales during the Indian festive season (October and November) and year-over-year growth, 2019–2023E
• The number of Indian millionaires expected by 2026
• The share of Indian consumers that engaged in metaverse-related activities in the past six months
• Survey data on the reasons companies in India are deploying new technologies and the premium Indian consumers are willing to spend on sustainable products

Introduction

10 Trends in Global Retail: Coresight Research Analysis

1. Retailers and Mall Developers Will Expand to Tier 2+ Cities
2. Large Conglomerates Will Lead Retail Consolidation
3. Online Sales and Shopping Events Will Occur Throughout the Year
4. Brands and Retailers Will Leverage GenAI for Personalization
5. Sustainability Will Drive Customer Retention and Loyalty
6. Immersive Technologies Will Augment the Shopping Experience
7. India Will Fuel Global Luxury Growth
8. Video Commerce and Influencer Marketing Will Strengthen Brands and E-Commerce Platforms’ Growth
9. E-Commerce Penetration Will Extend Beyond Tier 3 Cities
10. Private Label Competition Will Intensify

What We Think

Notes

7-page PDF report

Amazon, Balenciaga SA, Chumbak, Flipkart, Galeries Lafayette, GOAT Brand Labs, Jack & Jones, Reliance Retail

1. 10 Trends in India Retail
2. India: GMV of E-Commerce Sales During the Festive Season (Left Axis; USD Bil.) and YoY Growth (Right Axis; %)
3. India: Top Three Reasons for Deploying New Technologies (% of Respondents)
4. Indian Consumers: Percentage Above Average Price Consumers Are Willing to Pay for a Sustainable Product (% of Respondents)
5. How Livestreaming Can Help E-Commerce Shoppers (% of Respondents)