ASSOCHAM news and archive

Online retail consumers to cross 100 million by end 2017: Assocham study

With e-retail market likely to jump by 65 percent in 2018, the number of consumers purchasing online is expected to cross 100 million by 2017 end, says an ASSOCHAM-Resurgent India study . With increased participation from people across the country, this year will see large scale growth in the Indian e-commerce sector. This industry will continue...

RetailFeatured

Ultra-affluent working women driving luxe market in India: Assocham

Home to over 1,200 ultra-affluent women having combined net worth of about $100 billion (Rs 6,50,000 crores), India has become a strategic market for luxury brands. As per a recent Assocham survey, fashion-forward, beauty-conscious and ultra-affluent working women in India are driving up growth of India’s $9 billion (around Rs 55,900 crores)...

RetailFeatured

Online shopping for luxury brands grows in India

Online luxury shopping is all set to get a boost. A recent Assocham study states online luxury stores will see an influx of 35 billion dollars (Rs 23,290.75 crores) in 2016 which will double by 2020. Through 2017-18 the market is expected to grow at a compounded annual growth rate (CAGR) of 27 per cent. Growth drivers aplenty In recent years,...

Retail

Mall owners pull up brands for under-performance

Mall owners across the country are now cracking the whip on loss-making shops in their premises. They are now evicting loss-making brands, squeezing the store sizes so as to accommodate more shops and lowering lease tenures so as to increase footfalls and revenues. These steps are being taken in order to ward off the stiff competition posed by...

Business

Assocham survey pegs e-com industry at around Rs 2,51,720 cr

It’s boom time for India’s e-commerce market. Assocham has released new data which states that the industry will be worth 38 billion dollars (Rs 2,51,720 crores) by 2016, which will be a 67 per cent jump over the 23 billion dollars (Rs 1,52,357 crores) revenues for 2015. In 2009, the e-commerce market was worth 3.8 billion dollars (Rs 25,172...

Retail

Footfall at shopping malls to decline significantly

Shopping malls in major cities may witness a decline of more than half in footfall this Diwali, with online buying catching up on the back of discounted sales by e-tailers, a survey by Assocham said. “In the wake of unprecedented surge in e-commerce, shopping malls, already under huge pressure due to large vacant spaces, are expected to see a...

Retail

NDA Govt not to clear new proposals under multi-brand FDI

While the Narendra Modi-led NDA government has retained the multi-brand FDI policy that allows up to 51 percent foreign investment, it has said that the Centre will not approve any new FDI proposals in multi-retail trade. “It (FDI in multi-brand retail trade) is ineffective and not any proposal will be cleared while BJP is in power,” BJP...

Retail

Govt should allow FDI in multi-brand retail through PPP - Assocham

The government should allow FDI in multi-brand retail through public-private partnership (PPP) with adequate safeguards to protect domestic stakeholders, industry body Assocham has said. “Entry of foreign players in the retail sector must be gradual and with social safeguards so that the farmers, consumers and small retailers are resilient to...

RetailFeatured

Assocham bets big on prospects of ecommerce market

A recent Assocham study says, the Indian ecommerce industry is expected to see a 72 percent increase in average annual spending on online purchases per individual in 2016 up from the current level of 65 percent. While the impact of low consumer demand and slow economy is visible at physical stores across the globe, ecommerce segment in India...

Retail

Luxury brands suffer a set-back in India

Despite positive predictions, retailers selling high-end fashion and consumer products are witnessing a low consumer response. According to them, the country’s market is still not ready for luxury. It may be recalled that an ASSOCHAM study some time ago had predicted Indians are likely to spend 35 billion dollars (over Rs 2,22,000 crores) on...

Retail

Indian kids’ retail market on growth track - ASSOCHAM

As per a recent study undertaken by ASSOCHAM, the Indian kids’ wear market is expected to reach Rs 80,000 crores by 2015. The kids’ fashion has infiltrated into Tier II and III cities like Dehradun, Chandigarh, Pune, Nashik, Indore and Varanasi, the report adds. The kids’ wear market is growing at 17 percent, making it one of the most attractive...

Retail

India to witness rise in consumer spending

Led by a rise in brand awareness among Indian youth and purchasing power of the upper class in Tier II, III cities, consumer spending is expected to grow four times to 4.2 trillion dollars (around 244 lakh crores) by 2017, says a ASSOCHAM-YES Bank joint study. The report states that the Indian luxury market is estimated to be worth 18 billion...