Retail sales in shopping malls to grow at a CAGR of 29% in the FY 2022 and will touch USD 39 bn by FY 2028: Knight Frank India
Mumbai, 13th September 2022: Knight Frank India, leading international property consultant in the country, in its latest report ‘ Think India, Think Retail 2022 - Reinventing Indian Shopping Malls’ cited that the organised retail sales volume in the top 8 Indian cities is estimated to grow at a CAGR of 17%, from USD 52 billion (bn) in FY 2022 to USD 136 bn by FY 2028. In the same period, potential retail sales in Indian malls are estimated to grow at a CAGR of 29% in the FY 2022 – 28 period reaching USD 39 bn by FY 2028. Retail sales in Indian malls across the top 8 cities grew at a CAGR of approximately 3% to reach USD 8 bn in FY 2022 while in FY 2023, the potential consumption is estimated to surpass the pre - COVID-19 levels to reach USD 11 bn. The organised retail sales volume will grow at an expected CAGR of 24% between FY 2017 and FY 2022 maintaining a healthy rate of growth despite the pandemic induced slowdown. Shishir Baijal, Chairman & Managing Director at Kni...
