BMI India Retail Report Q3 2014 - New Study Released

From: Fast Market Research, Inc.
Published: Tue Jun 17 2014

An emerging middle class and an expanding 21+-plus years age group resulting in a strong rise in household spending across all retail subsectors means that India's retail sector is forecast to grow strongly over the next few years. We are particularly positive about the future growth prospects for communications, clothing & footwear and personal care & insurance spending. However, we expect food &and drink expenditure to remain the highest throughout our forecast period, with spending on transport also high.

The India Retail Report provides an extensive forecast of various retail indicators, including household spending and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts, and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink; clothing & footwear; furnishing & home; recreation & culture; personal, insurance & other, and a number of other subsectors.

Full Report Details at

Overall, we see long-term potential in the local consumer market, particularly for non-essential items and aspirational purchasing by an emerging middle class. We forecast the average net household income to be USD4,390 in 2014, with fewer than 20% of households earning a minimum of USD5,000. However, between 2014 and 2018, the percentage of households moving into the USD5,000+ wage bracket is forecast to rise from 19.6% to 45.0% of the total, which represents the key demographic for increased household spending on non-essential products beyond necessities such as food, utilities and transport. We expect this to result in a corresponding increase in household spending on personal care and effects, high-end household appliances, restaurants and entertainment. Meanwhile, transport expenditure will also continue to rise as a larger number of households purchase cars and bikes and travel longer distances, including the purchase of holiday flights.

However, we have revised...

The BMI India Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's BMI India Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

* Benchmark BMI's independent retail industry forecasts for India to test other views - a key input for successful budgeting and strategic business planning in the Indian retail market.

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