According to Images India Retail Report 2002, organised retail business in key sectors including food, clothing, consumer durables, footwear, jewellery and watches is likely to cross over Rs 140 billion by the end of this year. The sector will see an investment of over Rs 10 billion in the next two years.
The report says that the country will witness opening up of 15 hypermarkets, 20 large departmental stores, 10 large supermarkets and 750 medium and small size super markets in next couple of years.
The two metros, Delhi and Mumbai alone will have 2.5 million square feet of space for retail and entertainment in next few years while 10 million square feet of mall space will be completed in other cities of the country by 2005, the survey said.
The survey projected food and fashion businesses to dominate the organised retail market with 85 per cent market share while identified potential sectors included — books, music, gifts, consumer durable, home decor, beauty and healthcare.
The survey estimated total retail business including unorganised sector will grow at Rs 8,570 billion by the end of 2002 which includes Rs 885 billion branded retail products under nine categories.
The projected figures for organised food, grocery and tobacco segment is likely to grow at Rs 20 billion, clothing and textiles at Rs 50 billion, jewellery and watch at Rs 25 billion, footwear at Rs 18 billion, home decor at Rs 5 billion and consumer durables at Rs 15 billion.
The organised retail market by 2002 for beauty and body care is estimated at Rs 2 billion whereas market for books, music and gifts is likely to touch Rs 5 billion. According to the survey, the organised retail market for pharmacies is likely to touch Rs 2.5 billion mark by 2002.
Source: Financial Express