Top 7 Companies in India by Net Sales from Retailing Sector (Feb 2024 update)

Retailing is a key part of India’s economy, making up around 10% of its GDP. As of 2022, the Indian retail market is worth an estimated $1.3 trillion and is one of the world’s fastest-growing retail markets, with a population of 1.4 billion people.

The Indian retail sector has undergone significant changes since 2021. The industry saw an 8.5% decline in FY 2021 but recovered in 2022, reaching $836 billion, with traditional retail making up 81.5% of the contribution. However, due to COVID-19 disruptions, there has been a rapid increase in e-commerce and digital adoption. Brands are now focusing on increasing their online presence and direct sales as customers continue to shop online.

Interestingly, shoppers from Tier II and Tier III cities now make up over 61% of the total market share in FY 2022, compared to 53.8% in FY 2021. While Tier I cities have a lower growth rate for e-commerce at 47.2%, tier II and III cities showed growth of 92.2% and 85.2%, respectively. In 2023, the dominance of tier II and III cities is likely to continue.

Retailers are investing heavily in cutting-edge technology to take advantage of the growing tech-savvy, millennial, and Gen-Z consumer-driven market. According to a Forbes report, global AR/VR investment is expected to reach $72.8 billion by 2024. Additionally, there will be an increase in conversational commerce, with the use of chatbots anticipated to increase. The chatbot industry is expected to reach a market value of over $102 billion by 2026, with a CAGR of under 35%.

List of Top 7 Retailing in India (BSE) based on Net Sales.

Company Name Net Sales (Rs. cr)
Avenue Supermar 41,833.25
Aditya Birla F 11,736.86
Trent 7,715.19
Shoppers Stop 3,998.36
V-Mart Retail 2,467.47
Spencer Retail 2,180.25
Future Ent 1,513.62
Source: BSE, India, last updated 26 February, 2024

This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:

1. Potluri, R. M., & Kilaru, M. (2023). Sustainability in Supply Chain Management: A Case Study of the Indian Retailing Industry. Engineering Proceedings59(1), 64.
2. Patil, A., Borle, S., & Singh, S. (2023). An empirical investigation of unique traits of retailing industry in emerging economies: The perspective of consumer-packaged goods manufacturers. Journal of Business Research154, 113254.
3. PK, M. (2013). Problems and Prospects of Retailing Industry in India: A Macro Perspective. CLEAR International Journal of Research in Commerce & Management3(5).
4. Malyadri, P., & Srinivasa Rao, K. (2011). Indian Retail Marketing Scenario A Pivotal Role Towards Economic Growth. Economic Affairs56(2), 133-138.

Disclaimer: This news is for information and research purposes only. It is not intended for financial advice.
Declaration of competing interest: Publisher and owner of this web-portal hereby declare that there is no competing interest.

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