Metros and big cities in India are contributing less to the growth of the country’s retail industry, as consumption patterns have changed over the last decade, showed a report by Kearney. A large group of smaller cities, such as Surat, Jabalpur, Raipur, Mangalore and Faridabad have emerged as the growth centers with their own consumer preferences. Though most of the organised retailers have established strong presence in metros and tier-I cities, the next wave of growth in retail will be led by emerging cities and emerging hotspots within metros and tier-I cities, according to the report. This is especially evident in the share of luxury retail spending, which grew from around 9 percent in 2013 to around 60 percent in 2018 in non-metro cities. Such growth expected in the retail domain will trigger new business opportunity for the signage companies engaging in in-store projects.
