A brand new report by Boston Consulting Group (BCG) says India’s consumption market is again on the expansion monitor after a 12 months, having been disrupted by the pandemic. Whereas development projection for the consumption market was made earlier than Covid-19 struck, BCG says that the financial system has utterly unlocked and there was an uptick in demand throughout classes.
It says India’s consumption market will triple by 2030, although there may very well be a lag of 1-2 years induced by the pandemic. The consumption spurt shall be pushed by urbanisation, larger disposable incomes, and nuclear households.
BCG additionally notes that retailers should develop new methods to tide over challenges which will emerge within the post-Covid world.