FMCG Future in India --- Mckinsey
The future of the FMCG sector in India is poised for significant transformation driven by digitalization, urbanization, and evolving consumer preferences. Insights from McKinsey highlight key trends and strategies that will shape this future. Growth of online grocery retail Significant expansion Online grocery retail in India has experienced a cumulative annual growth rate (CAGR) of over 50%, with market size projected to grow from USD 2-3 billion in 2020 to USD 10-12 billion by 2025 [1] The top six or seven metropolitan areas are expected to account for 60% of the market, with mid-to-high affluent households forming the bulk of the customer base [1] Omnichannel approach An omnichannel strategy is becoming essential for growth, as evidenced by the doubling of average revenue contributions from online business in recent years [1] Retailers like Reliance Retail are enhancing direct-to-consumer (D2C) offerings through platforms like JioMart [1] Evolution of grocery retail landscape ...