Average grocery basket size rises 1.5 times to Rs 900 for consumers: Report

  • 8 months ago
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THO
BENGALURU: The average bill value for essential items purchases have gone up 1.5 times, to Rs 900 at present from Rs 650 in March, according to a report by property consultancy Anarock and Retailers Association of India (RAI).
Amidst the pandemic-induced slowdown, essential goods will fuel Indian retail industry’s growth in the coming quarters, the report said, as consumer expenditure continues to remain focused on essentials.
Food and grocery, followed by apparel, FMCD and electronics, furniture and home furnishings and QSR are expected to see a V-shaped recovery within the next 2-3 quarters. Other segments like beauty, wellness and personal care and home essentials may take 4-6 quarters to recover fully.
“Online spending is on a marked rise with online shoppers projected to increase from 15% in 2019 to 50% of the total online population by 2026. Omnichannel retailing is evolving rapidly with brands collaborating actively to enhance their reach. Many are using malls or in-mall stores as urban warehouses to ensure a faster delivery to customers and are tying-up with existing e- commerce/ delivery portals to leverage their existing network and ensure reduced,” said Anuj Kejriwal, MD & CEO of Anarock Retail.
TOI reported in May that consumers are increasingly buying larger packs of FMCG products during the period of lockdown to help them sustain for longer period and to prevent visiting stores often leading to larger average bill sizes
“The pandemic has enhanced the importance of retailers having an omnichannel strategy since concepts of digital browsing, click and collect, curbside delivery, video shopping etc. have gained importance,” Kumar Rajagopalan, CEO of RAI said.

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