BMI India Retail Report Q3 2010

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 19, 2010 -- TX: ReportsandReports announce it will BMI India Retail Report Q3 2010
,Market Research Report in its Store.

Browse the complete Report on: http://www.reportsandreports.com/market-reports/bmi-india-retail-report-q3-2010/

The Q310 BMI India Retail Report forecasts that total retail sales will grow from INR16.3trn (US$353.0bn) in 2010 to INR25.0trn (US$543.2bn) by 2014. Strong underlying economic growth, population expansion, the increasing wealth of individuals and the rapid construction of organised retail infrastructure are key factors behind the forecast growth.

As well as an expanding middle and upper class consumer base, there will also be opportunities in India’s second and third-tier cities. The greater availability of personal credit and a growing vehicle population to improve mobility also contribute to a trend towards annual retail sales growth of 11.4%. India’s nominal GDP is a forecast at US$1.52trn in 2010. Average annual GDP growth of 7.8% is predicted by BMI through to 2014. With the population expected to increase from 1.19bn in 2010 to 1.25bn by 2014, GDP per capita is forecast to rise by over 75% by the end of the forecast period, reaching US$2,238. Our forecast for consumer spending per capita is for an increase from US$793 in 2010 to US$1,160 in 2014.

The growth in the overall retail market will be driven largely by the explosion in the organised retail market. Domestic retailers such as Reliance Retail and Pantaloon Retail continue to invest heavily in increasing their store networks and improving in-store offerings, and the impact they have on growth will be boosted by the arrival of expansion-orientated multinationals.

Mass grocery retail (MGR) sales in India are forecast to undergo enormous growth over the forecast period. BMI predicts that sales through MGR outlets will increase by 154% to reach US$15.29bn by 2014. This is a consequence of India’s dramatic, rapid shift from small independent retailers to large, modern outlets, although it must also be noted that this growth is forecast to come from a very low starting point.

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