There is a new entrant on the leading retail regions’ list in the country – East India. The region, comprising of West Bengal, Bihar, Odisha, Jharkhand, Chhattisgarh and Assam has shown great potential in as far as the retail industry is concerned if the recent growth and development is anything to go by. No longer a silent observer in the retail race, East India is breaking all barriers to emerge at the top of the retail game, across all channels. Kolkata – the third-largest metropolitan area in the country and also the capital of Bengal – is the proud face of East Indian retail.
Some of the growth drivers of the region include a burgeoning, aspirational population, the proximity of Bangladesh – a country of 13 crore+ consumers – as well as the South-East Asian markets. Another reason why the region is fast emerging as a vibrant business center is the fact that the Kolkata and the Haldia ports act as gateways to landlocked countries like Nepal and Bhutan.
Cities like Durgapur, Bhubaneswar, Patna, Ranchi, Jamshedpur, Bokaro, Guwahati, Cuttack, Siliguri, Brahmapur, Rourkela, Sambalpur, Puri, Bhagalpur, Gaya and Muzaffarpur are rapidly following in Kolkata’s footsteps, gaining ground as retail hubs.
Many of these urban areas are already in the process of becoming smart cities (an urban renewal and retrofitting program by the Government of India) which in result poses a major opportunity for the retail industry to create new milestones.
What Research Says
The Eastern region, home to 27 percent of the country’s population, contributes ~16.5 percent of the GDP.
This story is from the December 2019 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2019 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
How can Brands Delight Customers?
A look at strategies to bring customers back and turn them into potential brand advocates
Smaaash Mulls VR-only Arcades in Future
Avanish Agarwal, Consulting CMO, Smaaash sheds light on business, expansion plans and more
Meesho is Built Upon the Bedrock of Technology
Nilesh Gupta, General Manager, Growth at Meesho shares his insights on the growth factors, technology and relevance of the brand in tier 2 cities and beyond
High Streets Emerge Top Leasing Choice for Luxury Brands in 2023, Malls Remain Second
Malls remain the second most preferred luxury realty category, with 300% Y-o-Y growth with high streets lead with about 45% share in India’s overall luxury retail leasing in 2023
Special Events in Malls
Nexus Select Citywalk and Kiran Nadar Museum of Art (KNMA) organised the collaborative exhibition, ‘The Art Maze; from March 24 to March 31, 2024. Inspired by the works of prominent Indian artists - Lakshman Pai, Raja Ravi Verma, Jamini Roy, SH Raza, and Vivan Sundram; The Art Maze aimed to portray an immersive journey into the world of artistic expression for the participants anve d visitors.
CRA Realtors: Inspiring Trust
CRA Realtors boasts about 70% repeat customers, which speaks volumes about the trust the real estate agency has inspired over more than 18 years of existence
Why South India is Witnessing Renewed Retail Surge a
Industry leaders on the factors propelling retail growth in South India and their projections for future expansion metrics in the region
Tier 2 Cities Lead with 64% of March Store Launches
About 48 of all the new stores opened in March 2024 were in non-metros
5 Top Indian Jewellery Brands with the Strongest Retail Footprint
These homegrown jewellery retail gems have been instrumental in shaping the country’s jewellery sector and continue to shine bright amidst stiff competition on the global stage
Demand for Lab-grown Diamonds to Double by 2030. Here's Why
Exploring the different facets of this emerging segment that is increasingly attracting retailers, investors and consumers to it