India’s Booming Retail Market: Major Trends & Outlook for 2024 - Indian Retailer (2024)

The global bicycle market is on a significant upward course to grow from $110.38 billion in 2023 to $228.90 billion by 2030, growing at a CAGR of 11.0 percent. This growth is fuelled by the increasing popularity of cycling, not just as a mode of transportation, but also as a recreational activity and a means to maintain fitness. With its diverse landscapes and a growing interest in healthy living, there has been a surge in demand for bicycle brands in India. Whether you're a professional cyclist, a fitness enthusiast, or someone who enjoys a casual ride, finding the right bicycle is essential. Here are the top 10 bicycle brands in India that cater to all kinds of riders.

Best Cycle Brands in India

Here's a list of the best cycle brands in India.

1. Avon Cycles: Top Cycle Brand in India for All Age Groups

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The brand showcase the classic example of the enterprising Punjabi spirit. In the early days following India's independence post-partition in 1947, the legendary Pahwa Brothers dreamed of providing the common man with an affordable means of mobility. The organization combines the simplicity and speed of a family business with the broad-based features of corporate functioning. The former inspires trust, while the latter instills confidence in its ability to perform continually and consistently.

The brand is intensifying its efforts to expand both its domestic and international market presence. Known as the largest bicycle manufacturer in India, it has exceeded its FY 23-24 sales target by the beginning of its fourth quarter, achieving a remarkable milestone. With an operating revenue of over Rs 500 crore, the brand is a powerhouse in the industry. J&K Bank has partnered with Avon Cycles Ludhiana to finance their electric vehicle (e-vehicle) range, continuing their proactive, environmentally friendly strategy. This brand is a standout in the list of top bicycle brands in India.

Specifications

  • Brand: Avon Cycles
  • Type: City, Mountain, Kids, E-vehicles
  • Tires: High-quality rubber, sizes ranging from 20 to 29 inches
  • Wheel Size: Various sizes, including 20", 24", 26", 27.5", and 29"
  • Saddle: Comfort-enhanced with ergonomic design
  • Suspension: Available on select models (front suspension and full suspension options)
  • Pay Load: Standard capacity up to 120 kg
  • Frame Size: Multiple sizes available (small, medium, large)
  • Brakes: Disc brakes and V-brakes available across different models

Pros and Cons of Avon Cycles

ProsCons
AffordableLimited suspension options
Wide range of typesLess advanced features on basic models
Comfortable saddlesLimited high-end models
Reliable build qualityStandard design aesthetics

Why It is Worth Buying

Avon Cycles offers a variety of affordable and reliable bicycles suitable for all ages. Their range includes city, mountain, kids, and e-vehicles, ensuring a suitable option for every rider. Features like comfort-enhanced saddles and high-quality tires contribute to a smooth ride, while disc and V-brakes ensure safety. Despite limited suspension options on some models, Avon Cycles’ overall build quality and affordability make them a top choice among cycle brands in India.

2. Hero Cycles:Leading Innovation Among Cycle Brand in India

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Hero Honda commenced its operations in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. Controlled by Pankaj M Munjal, Hero Motors Company (HMC) is an Indian multinational business conglomerate. The brand name was adopted by the Munjal brothers for their flagship company, Hero Cycles Ltd. The joint venture, named Hero Honda Motors Limited, was established in Dharuhera, India, with the Munjal family and the Honda group each owning a 26 percent stake in the company.

For the fiscal year ending March 31, 2023, Hero Cycles Limited reported an operational revenue exceeding Rs 500 crore. The company’s EBITDA grew by an impressive 323.07 percent compared to the previous year, with its net worth increasing by 8.77 percent. It offers a variety of cycles, from city rides to e-cycles, with prices ranging from Rs 6,050 to Rs 60,999. As one of the top cycle brands in India, Hero Cycles is a leading choice for many.

Specifications

  • Brand: Hero Cycles
  • Type: Road, Mountain, City, E-cycles
  • Tires: Durable rubber, sizes ranging from 20 to 29 inches
  • Wheel Size: Multiple sizes available, including 20", 24", 26", 27.5", and 29"
  • Saddle: Ergonomic design for enhanced comfort
  • Suspension: Available on select models, including front suspension and full suspension options
  • Pay Load: Standard capacity up to 120 kg
  • Frame Size: Various sizes available, typically ranging from 15" to 21"
  • Brakes: Disc brakes (160mm and 180mm) and V-brakes

Pros and Cons of Hero Cycles

ProsCons
Innovative designsSome models may be more expensive
Durable tiresLimited availability of high-end models
Ergonomic saddlesStandard design aesthetics

Why It is Worth Buying

Hero Cycles is renowned for its innovative designs and durability. They offer a wide range of bicycles, including road, mountain, city, and e-cycles, catering to both casual riders and cycling enthusiasts. With ergonomic saddles and durable tires, Hero Cycles provide a comfortable and long-lasting riding experience. Despite the higher price point on some models, the brand’s commitment to quality and innovation makes it a top choice among cycle brands in India.

3. Firefox Bikes:Premium Quality Among Top Cycle Brands in India

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In early 2005, the cycling scene in India experienced a dramatic transformation when the brand introduced an imported range of approximately 30 bike models into the Indian bicycle market. This range, covering the full spectrum of mountain, all-terrain, road, BMX, and kids' bikes, was made according to higher international quality standards and specifications, significantly enhancing the biking experience in India.

Firefox Bikes sold 18,000 cycles and earned revenue of Rs 22.5 crore in the first quarter of FY 2023. Catering primarily to the premium segment, the brand holds an estimated market share of 13-15 percent contributing to being a top bicycle brand. Prices for the bikes start around Rs 11,000 and go beyond Rs 45,000, making it a leading name in the high-end bicycle market in India.

Specifications:

  • Brand: Firefox Bikes
  • Type: Mountain, Hybrid, Road
  • Tires: Premium rubber, sizes ranging from 24 to 29 inches
  • Wheel Size: Various sizes available, including 24", 26", 27.5", and 29"
  • Saddle: Comfort-oriented with cushioning for long rides
  • Suspension: Available on many models, including front suspension and full suspension options
  • Pay Load: Standard capacity up to 110 kg
  • Frame Size: Multiple sizes available, typically ranging from 15" to 21"
  • Brakes: Disc brakes, with options like 160mm and 180mm disc sizes

Pros and Cons of Firefox Bikes

ProsCons
Premium qualityHigher price point
Comfort-oriented saddlesLimited availability in rural areas

Why It is Worth Buying

Firefox Bikes stands out for its premium quality and comfort. Catering to enthusiasts and professionals, their range includes mountain, hybrid, and road bikes. The comfort-oriented saddles and high-quality rubber tires ensure a smooth and enjoyable ride. With many models featuring suspension and disc brakes, Firefox Bikes are designed for performance and reliability. Despite a higher price point, the brand's focus on quality and comfort makes it a top choice among cycle brands in India.

4. Cannondale:High-Performance Cycles Brands in India

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The Cannondale Bicycle Corporation, an American division of the Dutch conglomerate Pon Holdings, supplies bicycles. In 1971, Joe Montgomery initially focused on making bicycling accessories and clothing, the tiny company challenged the industry in the 1980s by introducing some of the first mass-produced bicycle frames made from aluminum instead of steel. Now, the company has capitalized on the cycling boom that accelerated during the pandemic, including electric models under the nameplate Neo.

Cannondale offers a diverse range of bikes, including road, mountain, active, electric, and kids' bikes, along with biking equipment, gears, and accessories. In 2023, Cannondale reached a new high with an astounding $74.0 million in annual revenue. Known for its dedication to quality and innovation, Cannondale serves a wide variety of cyclists, from casual riders to professional competitors.

Specifications

  • Brand: Cannondale
  • Type: Road, Mountain, Hybrid, Electric
  • Tires: High-performance rubber, sizes ranging from 24 to 29 inches
  • Wheel Size: Various sizes available, including 24", 26", 27.5", and 29"
  • Saddle: Ergonomic and performance-oriented for maximum comfort and efficiency
  • Suspension: Advanced suspension systems available, including front suspension, full suspension, and lefty suspension options
  • Pay Load: Standard capacity up to 120 kg, heavy-duty options available for up to 150 kg
  • Frame Size: Multiple sizes available, typically ranging from 15" to 23"
  • Brakes: Hydraulic disc brakes, with options like 160mm, 180mm, and 203mm disc sizes

Pros and Cons of Cannondale Bikes

ProsCons
High-performance qualityPremium price range
Advanced suspension systemsLimited availability in some regions
Ergonomic saddles
Wide range of models

Why It is Worth Buying

Cannondale bikes are renowned for their high-performance quality and advanced features, making them ideal for serious cyclists. The brand offers a wide range of models, including road, mountain, hybrid, and electric bikes, catering to various cycling needs. Their bikes come with advanced suspension systems and hydraulic disc brakes, ensuring a smooth and safe ride. Despite being in a premium price range, Cannondale's focus on performance and innovation makes it a top choice among cycle brands in India.

5. La Sovereign: High-Quality and Stylish Cycle Brand in India

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The first-ever joint venture between companies based in Thailand and India to market high-quality bicycles and kids' toys with world-class designs to Indian consumers. An India-based company has been in the bicycle trade for the past 40 years, establishing a strong brand presence in both the Indian and export markets. As one of the leaders in the trade, the company has attained a high level of technical expertise in manufacturing and marketing over the years

La Sovereign operates with revenue ranging from Rs 1-100 crore for the financial year ending March 31, 2023. The brand is situated in Ludhiana, Punjab, having an authorized share capital of Rs 3.75 crore and a total paid-up capital of Rs 3.65 crore. The company's net worth has increased by 0.24 percent, with starting prices for their bikes around Rs 10,000 on e-commerce platforms.

Specifications

  • Brand: La Sovereign
  • Type: City, Mountain, Kids, Hybrid
  • Tires: Durable rubber, sizes ranging from 20 to 29 inches
  • Wheel Size: Various sizes available, including 20", 24", 26", 27.5", and 29"
  • Saddle: Comfort-focused design for enhanced riding comfort
  • Suspension: Available on select models, including front suspension and full suspension options
  • Pay Load: Standard capacity up to 110 kg
  • Frame Size: Multiple sizes available, typically ranging from 14" to 21"
  • Brakes: Disc brakes and V-brakes, with options like 160mm disc sizes and standard V-brake configurations

Pros and Cons of La Sovereign Bikes

ProsCons
Stylish designsLimited high-end models
Durable tiresHigher price range
Comfort-focused saddlesLimited availability in rural areas
A wide range of models

Why It is Worth Buying

La Sovereign is known for its stylish and high-quality bicycles, catering to various cycling needs, including city, mountain, kids, and hybrid models. The brand emphasizes comfort with its well-designed saddles and durable tires, ensuring a pleasant riding experience. Although priced higher, the reliability and design of La Sovereign bikes make them a preferred choice among top cycle brands in India.

6. BSA :Top Cycle Brand in India for Durability and Comfort

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Established in 1949 by the Murugappa Group in collaboration with Tube Investments (UK), TI Cycles has evolved from a bicycle manufacturer to an expert in mobility and well-being solutions. Renowned for its flagship bicycle brands—BSA, Hercules, Montra, and Mach City—the brand has pioneered and perfected numerous cycle categories in India. These include the first-ever MTB, geared bike, Shox model, girls' bike, kids' bike, light roadster, carbon frame bike, and India’s cycling café. The inaugural Hercules bicycle was produced in 1951, marking the beginning of many innovations. It operates plants in Chennai and Rajpura and maintains major warehouses in Guwahati and Chennai, serving a nationwide network of over 1,200 dealers.

The brand is renowned for launching some of the first bicycles on the Indian market across various categories such as MTB, geared cycles, kids’ cycles, and ladies’ cycles. With a vast price range starting from Rs 1,800-25,000, BSA offers a diverse range of cycles with 62 models currently available on major e-commerce websites. It is undoubtedly among the top cycle brands in India.

Specifications

  • Brand: BSA
  • Type: City, Kids, Road
  • Tires: Durable rubber
  • Wheel Size: Multiple sizes
  • Saddle: Comfortable
  • Suspension: Available on some models
  • Pay Load: Standard capacity
  • Frame Size: Various sizes
  • Brakes: V-brakes

Pros and Cons of BSA Bikes

ProsCons
Durable buildFewer high-performance models
Comfortable saddlesBasic suspension options
Wide range of sizesStandard design aesthetics
AffordableLimited advanced features

Why It is Worth Buying

BSA is a leading cycle brand in India, known for its durable and comfortable bicycles. Ideal for city, kids, and road cycling, BSA bikes come with durable rubber tires and comfortable saddles, ensuring a smooth ride. The brand offers various sizes and affordable prices, making it accessible to many cyclists. Although it has fewer high-performance models, BSA’s reputation for quality and reliability makes it a top choice among the best cycle brands in India.

7. Road Master: Reliable and Affordable Cycle Brand in India

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An Indian premium bicycle brand and currently the fastest-growing bicycle manufacturing company in India. Established to empower Indian bicycle riders, Road Master Cycles provides highly durable and cost-effective bicycles with a variety of design choices. The brand entered the Indian bicycle market in 2014 with a mission to offer the best value products, cutting-edge technology, and dedicated round-the-clock customer support.

It boasts an authorized share capital of Rs 2,000,000. Within nearly a decade of operation, the company has successfully delivered over 400,000 cycles across India. Offering a diverse range of over 60 models, Road Master Cycles caters to a wide variety of bicycling needs in the country. With a well-knitted network of loyal channel partners, the brand ensures its accessibility and visibility to consumers, further solidifying its position in the Indian bicycle market.

Specifications

  • Brand: Road Master
  • Type: City, Mountain, Kids, Hybrid
  • Tires: Durable rubber
  • Wheel Size: Various sizes
  • Saddle: Comfort-oriented
  • Suspension: Available on select models
  • Pay Load: Standard capacity
  • Frame Size: Multiple sizes
  • Brakes: Disc and V-brakes

Pros and Cons of Road Master Bikes

ProsCons
AffordableLimited high-end features
Durable buildBasic design aesthetics
Comfortable saddlesLimited advanced suspension
Wide range of models

Why It is Worth Buying

Road Master is a popular cycle brand in India known for its reliability and affordability. The brand offers a variety of models, including city, mountain, kids, and hybrid bikes, making it accessible to a wide range of riders. With durable tires and comfort-oriented saddles, Road Master ensures a smooth and enjoyable riding experience. Despite having basic design aesthetics and limited advanced features, the brand's affordability and reliability make it a preferred choice among the top cycle brands in India.

8. Btwin (Decathlon): Leading Cycle Brand in India for All Riders

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Renowned brand of bicycles, parts, and accessories exclusively available at Decathlon, offers cyclists a perfect blend of style, performance, and affordability. Crafted by expert manufacturers across Asia and Europe, with a touch of French precision added since 2010, these bikes are a testament to quality and innovation. Over the years, Portugal has been instrumental in producing over 1 million bicycles, ensuring top-notch craftsmanship. Not just limited to bikes, B'TWIN also provides a wide range of accessories and parts, all designed to enhance your cycling experience without breaking the bank.

Under the global leader Decathlon, the brand reported an impressive annual revenue of Rs 3,950 crore as of March 31, 2023. With a strong presence in over 70 countries, the brand continues to expand globally, focusing on innovation and sustainability. The bicycles start at around Rs 7,999 and go beyond Rs 26,000, making them accessible to many customers.

Specifications

  • Brand: Btwin (Decathlon)
  • Type: Mountain, Hybrid, Road, Kids
  • Tires: High-quality rubber
  • Wheel Size: Various sizes
  • Saddle: Ergonomic and comfort-oriented
  • Suspension: Available on many models
  • Pay Load: Standard capacity
  • Frame Size: Multiple sizes
  • Brakes: V-brakes and disc brakes

Pros and Cons of Btwin Bikes

ProsCons
Wide range of modelsSome models may be pricier
High-quality componentsLimited availability in smaller towns
Comfortable saddles
Good suspension options

Why It is Worth Buying

Btwin, a brand from Decathlon, is well-regarded among the best cycle brands in India for offering a wide range of high-quality bicycles. Whether you're into mountain biking, road cycling, or looking for a reliable kids' bike, Btwin has you covered. Their bikes feature ergonomic saddles, durable tires, and good suspension options, ensuring comfort and performance. Although some models may be pricier, Btwin’s commitment to quality and variety makes it a top choice among cyclists in India.

9. Trek: Premium Quality Among the Best Cycle Brands in India

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A bicycle product manufacturer and distributor under brand names Trek, Electra Bicycle Company, Bontrager, and Diamant Bikes. In the past, the business has produced bicycles under the brands Villiger Bikes, LeMond Racing Cycles, Klein, and Gary Fisher. Trek Bicycles is marketed through 1,700 individually owned bicycle shops in North America, subsidiaries in Europe, Asia, and South Africa, as well as distributors in 90 countries worldwide. The brand has its headquarters located in Waterloo, Wisconsin. The majority of Trek bicycles are produced in nations other than the US, such as the Netherlands, Germany, Taiwan, and China.

Trek Bicycle, a leading bicycle brand in India, reports a revenue/turnover of Rs 1-100 crore. The company's net worth has increased by an impressive 98.66 percent, and its EBITDA has risen by 238.31 percent. With global revenue reaching $900.0 million, the bicycle continues solidifying its position as a top bicycle brand in India and a major player in the global market.

Specifications

  • Brand: Trek
  • Type: Mountain, Road, Hybrid, Electric
  • Tires: High-performance rubber
  • Wheel Size: Various sizes
  • Saddle: Ergonomic and performance-oriented
  • Suspension: Advanced suspension systems available
  • Pay Load: Standard and heavy-duty options
  • Frame Size: Multiple sizes
  • Brakes: Hydraulic disc brakes

Pros and Cons of Trek Bikes

ProsCons
High-performance qualityPremium price range
Advanced suspension systemsLimited availability in some regions
Ergonomic saddles
Wide range of models

Why It is Worth Buying

Trek is a top cycle brand in India, known for its high-performance quality and advanced features. The brand offers a wide range of bicycles, including mountain, road, hybrid, and electric bikes, catering to serious cyclists and enthusiasts. With advanced suspension systems and hydraulic disc brakes, Trek bikes ensure a smooth and safe ride. Despite being in a premium price range, Trek’s focus on performance and innovation makes it a top choice among the best cycle brands in India.

10. Stryder

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It has a large selection of bicycles including E-bikes, Roadster, Kids, Premium, Mountain, and SLR bikes. In India, Stryder bicycles may be found in over 4000 retail locations. In addition to being one of the top bicycle brands in India, Stryder has more than three million satisfied riders worldwide and exports to SAARC, Africa, and the Middle East.

It is a prominent name in the bike industry, achieved impressive financial breakthroughs with revenue ranging between Rs 100-500 crore. The company's net worth surged by 16.58 percent, reflecting its commitment to innovation, quality, and customer satisfaction. It continues to set benchmarks, ensuring its position as a preferred choice for cycling enthusiasts with a focus on sustainability and cutting-edge technology.

Specifications

  • Brand: Stryder
  • Type: City, Mountain, Kids, Hybrid
  • Tires: High-quality rubber
  • Wheel Size: Various sizes
  • Saddle: Comfort-oriented
  • Suspension: Available on select models
  • Pay Load: Standard capacity
  • Frame Size: Multiple sizes
  • Brakes: Disc and V-brakes

Pros and Cons of Stryder Bikes

ProsCons
AffordableLimited advanced features
Durable tiresBasic design aesthetics
Comfortable saddlesLimited high-end models
Wide range of models

Why It is Worth Buying

Stryder, known for its affordability and versatility, offers a range of bicycles suitable for city riding, mountain biking, kids, and hybrid models. With high-quality rubber tires and comfort-oriented saddles, Stryder bikes provide a smooth and enjoyable ride. Despite having basic design aesthetics and limited advanced features, the brand’s affordability and reliability make it a strong contender among the top cycle brands in India.

FAQs on Top Cycle Brands in India

1. What types of bicycles do these brands offer?

These brands offer a variety of bicycles including road bikes, mountain bikes, hybrid bikes, electric bikes, kids' bikes, and more.

2. Where can I buy bicycles from these brands?

Bicycles from these brands are available for purchase at their respective dealerships, retail stores, and major e-commerce platforms like Amazon, Flipkart, and Decathlon's online store.

3. Do these brands offer warranty and after-sales service?

Yes, most of these brands offer warranty and after-sales service for their bicycles. The warranty period and service terms may vary, so it's recommended to check with the brand or their authorized dealers for specific details.

4. How can I choose the right bicycle brand for my needs?

To choose the right bicycle brand, consider factors like your budget, the type of cycling you plan to do (road, mountain, commuting), and your specific preferences for features and design.

India’s Booming Retail Market: Major Trends & Outlook for 2024 - Indian Retailer (2024)

FAQs

India’s Booming Retail Market: Major Trends & Outlook for 2024 - Indian Retailer? ›

India's retail sector is experiencing a surge in online shopping, driven by a combination of factors including post-pandemic consumer spending and the rise of e-commerce. The contemporary Indian consumer is expected to significantly increase e-commerce subscriptions, emphasizing convenience, especially in rural areas.

What is the retail industry outlook for 2024? ›

While the shadow of past disruptions may linger, a surprising wave of optimism is sweeping the retail industry as we enter 2024. This sentiment, despite ongoing economic uncertainties, stems from a newfound belief in the transformative power of technology, particularly the emergence of generative AI.

How will retail change in India by 2030? ›

India's retail market is poised to cross $2.2 trillion by 2030, with approximately 90% of sales expected to occur offline, according to the report by Accel, Fireside Ventures and Redseer Strategy Consultants.

What is the rise and growth of the retail industry in India? ›

India's retail sector boasts an impressive market size, ranking fourth globally and contributing over 10% to the nation's GDP. In 2022, the market stood at a staggering INR 91,891 billion, and it's projected to surge at a CAGR of more than 13% by 2027.

Will retail stores exist in the future in India? ›

The Indian retail sector continues to be a significant force in the domestic and global context. Retail is a major contributor to India's GDP and employment, and India is expected to be the third- largest consumer market by 2030.

What is the market outlook for 2024? ›

For the remainder of 2024, the outlook for returns to fixed income investors looks positive. Starting yields are high in both nominal and inflation-adjusted terms, and inflation is getting closer to the Fed's 2% target, increasing the likelihood of rate cuts starting in the fall.

What are consumers looking for in 2024? ›

Consumers across the globe want data- and science-backed health and wellness solutions. Best-in-class companies should evaluate opportunities to lean into these offerings and other wellness growth areas (such as women's health and healthy aging).

What is the current scenario of retail in India? ›

The market after 2021 has been an eye-opening time for the Indian retail sector. The industry saw a decline of 8.5% in FY 2021, but it recovered in 2022 to reach $836 billion with 81.5% contribution from traditional retail. However, the COVID-19 disruptions led to a rapid increase in e-commerce and digital adoption.

What makes the Indian retailing market so unique? ›

India- The Top Retail Destination

Factors that make India so attractive include having the second largest population in the world, a rising middle-income class of ~158 households, increasing urbanization, connected rural consumers and increased discretionary spending amongst consumers.

What is the future of sales in India? ›

Experts believe that with complete regulatory direction, India's direct sales market may reach Rs 64,500 crore by 2025, up from Rs 7,200 crore now. In this blog, we will explore the factors driving this projection and the programs contributing to such remarkable growth, shaping the direct selling future in India.

Why retail market is slow in India? ›

India's top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets.

What is the future of luxury retail in India? ›

Based on Euromonitor International, India's luxury market is projected to be among the most dynamic markets in the world and is projected to reach a value of $8.5 billion by 2023, growing from $2.5 billion in 2021.

What will retail look like in 2025? ›

At the same time, online marketplaces will account for 45% to 50% of online spend by 2025. These numbers emphasize why retailers need to find the right partner who can help them differentiate themselves and provide customers with better shopping experiences.

What is the future outlook for the retail industry? ›

The future of retail will feature a high level of online penetration. The best suppliers will establish direct-to-consumer relationships, where retailers will no longer serve as the gatekeeper to the customer.

What are the shopping center trends in 2024? ›

Community and Social Experiences: Shopping centers are transforming into community hubs in 2024, offering more than just products. Anticipate entertainment options, communal spaces, and interactive events that foster a sense of community, turning the shopping experience into a social affair.

Does the retail industry have a future? ›

The future of retail will be tech-driven, and the global smart retail market size is expected to grow at a CAGR of 29.1% by 2030. The pandemic spurred many retailers to invest in technologies like buy-online-pick-up-in-store (BOPUS) and self-checkout.

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