The Indian consumer is spending double the amount that he did in 2003-04 at organized retail outlets such as Shoppers Stop and Lifestyle stores.
The average bill of Indian consumer of goods purchased in retail formats like Shoppers Stop, Tata Westside or Malls is Rs 1,600. It was Rs 800 to 900 2 years ago. The same went upto Rs 2,000 during festival seasons.
The story doesn’t stop here. Even supermarkets which had an average spend of somewhere between Rs250 to Rs300 is seeing billing in excess of Rs 600 now.
The Indian retail industry has got a long way to go. I am eagerly waiting to see an organized sale such as the one that happens on Black Friday in the US atleast by Diwali of 2010.
Tags: Retail India, Reliance Retail, Shoppers Stop, Bharti Walmart