AKMPG report cited in media a few months back said that almost 22% of consumers in India’s tier-2 cities and 30% in tier 3 towns feel their spends might increase compared to the pre-Covid levels. A 2019 Consumer Sentiment Survey also reveals that 26% of property investors view cities like Ahmedabad, Kochi, Chandigarh, Jaipur and Nashik as hot destinations. The retail sector in tier II and III, saw much higher investments of $6,192 million between 2006 and 2017, as against 1,295 million in tier 1 in the same period. Reports also point to a new breed of tech power entrepreneurs emerging from tier-3 cities with 3X growth in unique businesses creating online stores in these markets.
This story is from the March 2021 edition of Visual Merchandising and Retail Design.
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This story is from the March 2021 edition of Visual Merchandising and Retail Design.
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