Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Factbox: India retail - A nearly $900 billion market dominated by mom-and-pop stores

03/21/2021 | 11:12pm EST
Reliance's Yeah! and Coca-Cola Co. soft drinks are seen on a shelf inside a Reliance supermarket in Mumba

MUMBAI (Reuters) - India's expanding retail landscape is changing fast, with global and domestic consumer and retail behemoths fighting tooth and nail to woo shoppers, as many choose large, clean supermarkets over crowded local stores and ordering online.

Data from Forrester Research shows India's retail market was worth an estimated $883 billion last year, of which grocery retail accounted for $608 billion. By 2024, the market is expected to grow to $1.3 trillion.

India - population 1.3 billion - has over the years become a sought-after retail destination with a growing base of young and affluent shoppers. The sector contributes 10% to India's gross domestic product and accounts for 8% of India's employment, according to Invest India, the country's investment promotion arm.


India's mom-and-pop stores sell everything from clothes and footwear to groceries and electronics. Most of India's grocery retail happens at kiranas - small- and mid-sized mom-and-pop outlets which account for 75-78% of the consumer goods market, Ambit Capital estimates.

Store owners typically have a strong and regular customer base in their neighbourhood, with home delivery and taking orders on phone a common phenomenon.

Hundreds of household items are crammed inside wall-to-wall glass or wooden shelves, or in the open, at such stores. Many outlets are so small and cramped that customers don't set foot inside - products are handed over by store staff who stand behind a counter.

Many of these shops also offer staples - such as pulses, rice and flour - in loose or unbranded form. They typically operate from early morning till late evening.


This segment is a growing trend in India, with companies like Reliance Industries, led by India's richest man Mukesh Ambani, Future Retail, led by Kishore Biyani, and Avenue Supermarts' DMart all competing for customers.

This segment accounts for about 12-15% of consumer goods sales, according to Ambit. A long-established store format in the West, supermarkets are the polar opposite of kiranas; tidy, well-lit and with plenty of space for customers with shopping carts to seek out items from neatly stacked shelves themselves.

Mini-supermarkets in built-up residential areas are also spreading in response to the need to cater to urban shoppers buying supplies in smaller volumes on a daily basis rather than in a once-a-week drill. Most supermarkets operate during usual business hours and shut in late evening.


Shoppers in India are increasingly turning to e-commerce to shop for everything from electronics to groceries, boosted by online discounts and the development of rapid delivery services across the country.

While companies such as Amazon.com Inc and Walmart's Flipkart dominate the market, smaller startups have also introduced app-based services for daily delivery of morning essentials like milk and eggs.

Boston Consulting Group says e-commerce currently accounts for about 5-6% of Indian retail. But growth is phenomenal: India's e-commerce retail market stood at $30 billion in 2019 but is set to expand by an annual 30% to $200 billion by 2026, Invest India estimates.

(Reporting by Abhirup Roy in Mumbai and Aditya Kalra in New Delhi; Editing by Kenneth Maxwell)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -5.95% 2852.86 Delayed Quote.-14.44%
AVENUE SUPERMARTS LIMITED -4.10% 4299.8 Delayed Quote.-7.96%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.20% 20.29 End-of-day quote.9.93%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.00% 22.8 End-of-day quote.14.75%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 1.45% 69.85 End-of-day quote.7.75%
FORRESTER RESEARCH, INC. 1.49% 55.25 Delayed Quote.-7.30%
FUTURE ENTERPRISES LIMITED -2.07% 9.94 End-of-day quote.2.47%
FUTURE RETAIL LIMITED -0.10% 49.85 Delayed Quote.-2.16%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.09% 164.25 End-of-day quote.6.16%
RELIANCE INDUSTRIES LTD 0.02% 2477.85 Delayed Quote.4.63%
S&P GSCI CLASS III MILK (USD) 0.28% 165.1481 Delayed Quote.4.68%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.85% 14.895 End-of-day quote.0.96%
All news about AMAZON.COM, INC.
01/21Amazon could face claims by U.S. agency over union supporter's firing
01/21Intel's move into Ohio brings new tech kudos, competition for talent
01/21ViacomCBS' Streaming Debut Impressive but Questions Over Longer Term Success Remain, Bo..
01/21S.African court postpones ruling on objection to Amazon HQ on sacred land
01/21Entire Market Value Rule Strikes Again In WDTX
01/20Amazon.com to Webcast Fourth Quarter 2021 Financial Results Conference Call
01/20Google launches fresh appeal to overturn $2.8 billion fine at top EU court
01/20U.S. bill targeting Big Tech approved by Senate panel despite hefty lobbying
01/20EU Parliament agrees on proposal to take on U.S. tech giants
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2021 470 B - -
Net income 2021 21 090 M - -
Net cash 2021 37 060 M - -
P/E ratio 2021 69,9x
Yield 2021 -
Capitalization 1 447 B 1 447 B -
EV / Sales 2021 3,00x
EV / Sales 2022 2,51x
Nbr of Employees 1 298 000
Free-Float 82,7%
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 49
Last Close Price 2 852,86 $
Average target price 4 135,86 $
Spread / Average Target 45,0%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.-14.44%1 446 821
JD.COM, INC.4.84%113 418
ETSY, INC.-32.01%18 871
WAYFAIR INC.-26.45%14 607
ALLEGRO.EU SA3.55%9 969
MOMO.COM INC.-12.00%9 399