Where is the Mumbai Retail market headed?
The Mumbai Metropolitan Region (MMR) has the highest potential for modern retail in the country, at Rs 1,05,000 crore by 2036, followed by the National Capital Region (NCR) and B...See more
India is the first choice of global retailers and there are nearly 400 global retailers practicing business and many more yet to come.
With a population of over 2crores and rising per house capital income makes Mumbai country’s biggest retail market.
Whether it is improved connectivity or the ease of imports and exports, all these factors have strengthen the retail sector.
Government opening arms to the foreign investors and retailers have opened up a pool of options for buyers. A household now has much more foreign articles then compiled in last 25 years.
The traditional markets are growing at a fast rate and are the first choice of buyers. Giants landing in Mumbai in form of marts and complexes has provided buyers variety and also set a different league of business.
Food and cloth sector has got a great boom and has exploded into a big sector where there is no slowing down. The food chains and the local vendors are all carrying out their operations and Mumbai is witnessing a never such great competition.
The potential for food and beverage quick service restaurants (QSR) in the Andheri-Borivali belt and the island city is estimated to be Rs 780 crore and Rs 730 crore respectively by 2036, offering a big opportunity to QSR players such as McDonald’s, KFC, Burger King and Domino’s Pizza, the report said.
Mumbai leads in the retail expenditures of the country and is the prime source of revenue for the state and central government. Abolishment of Chinese good illegally imported has led to a great capital rise among the country and Mumbai led that too.
Although Mumbai still lags behind NCR in terms of retail penetration but is expected to contribute in a big way to the retail spending of the country.
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Added: 6 years ago
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