Retail Resurgence in India: Leading in the New Reality
India's consumption has been displaying steady growth, with the expectation of consumption tripling by 2030. However, in 2020, the COVID-19 pandemic dealt a heavy blow to the economy and consumption patterns, changing several facets of the everyday life of consumers. To understand the changes brought by the pandemic, BCG conducted proprietary research in 2020 across a wide range of consumer segments for India.
The report jointly developed by BCG and RAI details the shifts in consumer preferences and the underlying reasons behind the same. While some of the preference shifts are short-term, some of the others will have mid to long-term implications for the supply side. It also shares a path forward for retailers in essential and discretionary segments, to lead and win in the changing demand dynamics.