Carrefour’s decision to re-enter the Indian market in September 2024 reflects the increasing opportunities in the mass grocery retail sector across India. With favorable demographics, rising urbanization, real wage growth, and improved ease of doing business, India’s consumer profile is attractive, driving demand for MGR retail in the medium term. In 2024, household spending on food and non-alcoholic drinks is expected to grow by 10.4% year-on-year to USD707.5bn, with continued growth projected at an annual average of 10.4% until 2028, reaching USD990.5bn. Carrefour’s re-entry signals the growing potential of India’s MGR sector as it taps into the country’s expanding consumer market.
Key View
- The September 2024 announcement by the France-based mass grocery retail (MGR) giant Carrefour that they would be re-entering the Indian market highlights the growing opportunities in the MGR sector across India.
- India’s attractive consumer profile (favourable demographics, rising urbanisation, real wage growth and increasing ease of doing business) will drive demand for MGR retail in the market over the medium term (2024-2028).
- In 2024, household spending on food and non-alcoholic drinks will record strong growth, at 10.4% y-o-y, to a total of USD707.5bn. This trend will continue to play out over the medium term (2024-2028), with spending growing at an annual average of 10.4% per year, reaching USD990.5bn by 2028.
Write an article of 150 words in 3 paragraphs about Carrefour’s Re-entry Into India Highlights Growing Potential Of Its Mass Grocery Retail Sector
Source : Carrefour’s Re-entry Into India Highlights Growing Potential Of Its Mass Grocery Retail Sector