New retail centres emerge
Industrial townships & tier II cities are the new found love.May 10, 2013 | comments ( 0 ) |
Retail is expanding strongly beyond metros as the industrial townships and tier II cities emerge as new retail centers according to a latest study by retail IT solutions provider, Ginesys.
The study, titled, ‘Indian Retail Footprint- 2013’ reports that locations such as Gwalior, Dhanbad, Vijayawada, Vizag, Surat, Pune, Chandigarh etc witness high penetration of retailers. Conducted basis data collected from over 500 retailers, the study also saw wide dispersion of retail centers in Central India and South India versus skew towards metros in North India and Western India.
Commenting on the findings of the report, Prashant Lohia, CEO, Ginesys said, “Rise in discretionary/per capita income has given a boost to retail consumption in tier II cities and towns. At the same time, these towns and cities have witnessed rapid improvements in infrastructure and logistics enabling retailers to set up outlets to cater to the demand.”
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