With technology leading the world into an era where everything 'futuristic' is doing a virtual handshake with its existing version, interesting times are ahead for retail sector with innovation paving the path for sectoral growth.
According to a 2007 report by McKinsey & Co., India is set to grow into the fifth largest consumer market in the world by 2025. Thus it is evident that India still has a huge scope for growth and development in the organized retail sector.
After a lull of 2 years in a row, 2015 saw some steady growth in terms of deal makings for FMCG industry in India. With a new a fiscal lying ahead, here are some top foresights on the trends that will shape the FMCG and services industries in 2016.
In 2016, we can expect to see brick-and-mortar retailers go creative with online shopping options for their brands, enhancement of customer service experience, price and product elasticity and greater focus on loyalty.