New Delhi, Feb 28 (KNN) India’s organised retail sector is experiencing robust growth and is expected to reach USD 230 billion by 2030, driven by increasing disposable incomes and evolving consumer preferences, according to a report released jointly by Deloitte and the Retailers Association of India (RAI) on Thursday. 

The report highlights that the sector is currently expanding at a compound annual growth rate of 10 percent.

Several key factors are propelling India’s consumption trends, including rising income levels, the growing influence of Generation Z consumers, increased access to credit facilities, and a significant shift towards organised retail channels. 

The report emphasises that the wider availability of credit has democratised consumption patterns, enabling broader demographic segments to participate in discretionary spending, which was previously limited to certain population groups.

This financial inclusivity is fundamentally transforming India’s retail landscape, with consumers increasingly gravitating towards organised retail formats. 

The report further notes that private consumption in India has demonstrated remarkable growth, more than doubling from USD 1 trillion in 2013 to USD 2.1 trillion in 2024, outpacing major economies including the United States, China, and Germany.

Anand Ramanathan, Partner and Consumer Industry Leader at Deloitte India, commenting on the findings, stated that the surge in discretionary spending, the expansion of digital commerce platforms, and increasing access to credit facilities are collectively redefining how brands engage with consumers in the Indian market.

Kumar Rajagopalan, Chief Executive Officer of the Retailers Association of India, observed that as organised retail and innovative commerce models continue to expand across the country, businesses that successfully align their strategies with these emerging trends will be well-positioned to capitalise on substantial opportunities for growth and innovation in the sector.

(KNN Bureau)