India’s retail market has grown from Rs 35 lakh crore to Rs 82 lakh crore in the last decade, witnessing a 9 per cent growth.Affluent households are projected to triple by 2030, creating significant opportunities in premium and luxury retail. Despite rapid e-commerce growth, with online shopping penetration reaching 50 per cent, 58 per cent of purchase pathways remain purely offline. Consumers navigate between global aspirations and local pride, necessitating a harmonised approach that blends international trends with culturally relevant offerings. Meanwhile, over the next decade, the 45+ age group will become the largest cohort leading to new consumer demands emerging, including preventive consumer health, said the report. There is an opportunity for multiple trillion-rupee turnover retailers by 2035, said BCG Managing Director and Senior Partner, Abheek Singhi, said. The report was compiled by Boston Consulting Group (BCG) and the Retailers Association of India (RAI) It was released on Thursday by the Retailer’s Association ofIndia and BCG.
