13 Mn Kiranas - The Backbone of the $1Tn Indian Retail Sector
Indian retail economy is on a strong growth path to reach $1.3 Tn in the next 5 years; 13 Mn Kiranas form the backbone of this Retail in India. Kiranas have specially prooved their resilience in the recent times of Covid on merits such as accessibility/reach, home delivery, localized experience, selling on credit, support from the govt. etc.
These Kiranas have various business as well as financial needs such as inventory management to reduce cost of operations, transparency in pricing and newer revenue streams, effective support on Credit, Credit Management, GST support, Digital Payments and so on.
To address these issues various business models have come up. While multiple eB2B models have come up on the fintech and retail side already who are trying to act as one stop shop for all Kirana needs, the interesting bit is the sector convergence happening with certain other B2C sectors.
Driven by the above, Digital models will drive the ‘Phygital’ kiranas and enhance the potential of the channel to further bolster its role in the strong Indian $1Tn Indian Retail economy.
Indian retail economy is on a strong growth path to reach $1.3 Tn in the next 5 years; 13 Mn Kiranas form the backbone of this Retail in India. Kiranas have specially prooved their resilience in the recent times of Covid on merits such as accessibility/reach, home delivery, localized experience, selling on credit, support from the govt. etc.
These Kiranas have various business as well as financial needs such as inventory management to reduce cost of operations, transparency in pricing and newer revenue streams, effective support on Credit, Credit Management, GST support, Digital Payments and so on.
To address these issues various business models have come up. While multiple eB2B models have come up on the fintech and retail side already who are trying to act as one stop shop for all Kirana needs, the interesting bit is the sector convergence happening with certain other B2C sectors.
Driven by the above, Digital models will drive the ‘Phygital’ kiranas and enhance the potential of the channel to further bolster its role in the strong Indian $1Tn Indian Retail economy.
Table of Contents
1. Indian Retail Sector overview
2. Kiranas Overview
3. Digital revolution of Kiranas:
4. Appendix:
Methodology
1. Primary Research Consumers, stakeholders and industry experts are interviewed to help us validate key trends and market estimations.
While the exact figures may vary for different reports, on average, the publisher conducts:
- ~1,000+ consumer surveys
- ~30+ IDIs (in-depth interviews) with stakeholders (consumers, suppliers, distributors and delivery executives, among others)
- ~25+ detailed discussions with industry experts Depending on the report in question, consumers and stakeholders are distributed across:
- City tiers (Metros, Tier 1, Tier 2, Tier 3 & Tier 4 cities)
- Income levels
- Genders
- Age groups
- Professions
- Internet usage pattern
- Geographies
2. Secondary Research Secondary includes analysis of databases available in public domain. Information sought is cross-referenced and aligned for soundness.
Note: In order to maintain confidentiality, results and analysis of the surveys and expert interviews are presented at level of overall scenario analysis and representation only.
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