Mumbai Metropolitan Region (MMR) has the highest potential for modern retail in the country, pegged at Rs 1,05,000 crore by 2019, followed by National Capital Region (NCR) and Bengaluru, according to a report by Knight Frank and Retail Association of India. The share of modern retail would increase from 19% to 24% in 2019 according to the report.
Mumbai region offers big opportunities for retailers across categories like apparel, food & beverages, entertainment and daily needs. The retail expenditure of the MMR, at R1,21,400 crore, showcases the region’s potential for modern retail in the coming years.
MMR has the highest potential for modern retail penetration in the apparel category. The Andheri-Borivali zone has the highest annual modern retail potential of R17,800 crore. Of the total retail spending 69% comes from MMR, NCR and Bengaluru out of the top 7 cities, The Think India, Think Retail, 2016 report said.