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Apparel occupies 22% of retail space in top seven cities
12
Feb '15
Apparel is the largest product category in India, with a share of 22 per cent in the occupied modern retail space of the top seven cities, according to property consultant Knight Frank.
 
The seven cities are Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR (Delhi and adjoining region), and Pune.
 
“Currently, the total retail spending in the top seven cities of India amounts to Rs 3,586 billion, with Mumbai accounting for the lion’s share, at 29 per cent. This is followed by NCR and Bengaluru, at 25 per cent and 15 per cent respectively,” says the first edition of the report ‘Think India. Think Retail’, launched by Knight Frank India in association with the Retailers Association of India.
 
The report is a first-of-its-kind analysis to decipher India’s modern retail market across the top 7 metropolitan regions with a perspective on and its impact on the real estate sector.
 
According to the report, the modern retail penetration in the top seven cities of India stood at 19 per cent in 2014, of which brick and mortar modern retail was at 17 per cent and E-tail, at 2 per cent. NCR has the highest penetration of brick and mortar modern retail, at 23 per cent, followed by 21 per cent in Bengaluru. Mumbai has only a 12 per cent penetration of brick and mortar modern retail. 
 
A whopping 90 per cent of the retail market in Hyderabad is serviced by non-modern retail, compared to less than 75 per cent in NCR. Currently, NCR has the highest penetration of e-tail in India, at 3 per cent, and the corresponding number for Mumbai and Hyderabad is 1 per cent each, the report said.
 
In terms of product category, apparel has the largest share of 22 per cent in the occupied modern retail space of the top seven cities. At 27 per cent, the apparel category has the largest share among all product categories in NCR. This is the highest share for apparel category among the top seven cities surveyed, according to Knight Frank research. On the other hand, Pune has a good mix of all the major product categories, which are evenly distributed.
 
Brand-wise, NCR has the largest share of foreign brand stores, representing 20 per cent of total modern retail space, while Kolkata has the lowest share of foreign brand stores.
 
More than 50 per cent of all the modern retail stores in the apparel category across the top seven cities of India are regional and local brand stores, according to the report.
 
“While modern retail is expected to grow its share from the current 19 per cent to 24 per cent over the next 5 years, e-tailing as a component of modern retail is likely to see a substantial jump in its share and has the potential to challenge the prospects of brick and mortar modernretail outlets,” said Dr Samantak Das, chief economist and director of research, Knight Frank India. (RKS)
 

Fibre2fashion News Desk - India

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