Brick-mortar stores thrive in Tier 2, 3 despite quick commerce: PwC

Despite the aggressive expansion of quick commerce businesses in India, given that people are increasingly opting to shop through the emerging online platforms, brick-and-mortar retail remains a robust channel in the tier 2 and tier 2 cities, as per a report by global consulting firm PwC.

- TBG NETWORK NEW DELHI

The PwC report argued that independent retailers' strong sense of service and engagement with their loyal consumer base supported this robustness in physical stores.

While several striking findings emerged in the survey, one that caught PwC's attention was the continued success of brick-and-mortar retail in tier 2 and 3 cities.

The retail market in India is expected to grow to USD 1,892 billion by 2029-30, at a compound annual growth rate (CAGR) of 10.3 per cent, with e-commerce, the fastest growing channel, notching a CAGR of 22.5 per cent and touching USD 220 billion by 2029-30, as per the report by global consulting firm PwC.