Retail sector is expected to double its size by 2020: Rachit Mathur
By VJ Media Bureau | Vjmedia Works | February 06, 2015
Calling the present decade a golden decade for Indian retail, Rachit Mathur, Principal, The Boston Consulting Group said the sector is expected to double its size by 2020.
Rachit Mathur, Principal, The Boston Consulting Group, spoke about'What's In Store for Indian Retail -- Statistics, Numbers, Growth Prospects, Categories, Formats, Status in Other Countries' in his address at the Foundation Session. Calling the present decade a golden decade for Indian retail, he stated that the sector is expected to double its size by 2020. At present, the organised retail holds a market share of just 5-6 per cent in the retail sector. According to Mathur, the'I' generation will decide the future scope of organised retail market. "The generation born in 2010 will consume 13 times more in their lifetime than the generation born in 1960s. This generation prefers online shopping, and e-commerce is not just about discounts but convenience and variety,â€ he said.
Responsible consumption is another important retail theme internationally, he said.
Mathur asserted that "Believe in the long term story, where the drivers are rooted in our demographics.
Execution of solutions will be important. And most importantly, we must understand that what happened in the past will not happen in the future because the market scenario is changing constantly.â€
Mathur is a core member of BCG's Global Consumer & Retail practice and works with clients in India across a wide variety of business transformational issues.