2025印度消費者彈性支出的變遷零售市場變革與品牌應(yīng)對策略研究報告

India'schanging

discretionaryspending:

Keyinsightsforbrands

February2025

Tableofcontents

Foreword4

IntroductionandconsumerspendingbehaviourinIndia6

Introduction7

Keyconsumptiontrendsandgrowthdrivers7

Futureoutlookofdiscretionaryexpenditure11

OverallshiftsexpectedintheretailmarketinIndia13

Sector-wiseanalysis15

Foodandfoodservice16

Apparelandfootwear20

Health,wellnessandfitness24

Homeandhousehold30

Gemsandjewellery35

Consumerdurables39

Travelandrecreation(luggage)44

Education49

Implicationforbrands52

Conclusion62

Appendix64

India'schangingdiscretionaryspending:Keyinsightsforbrands

4

ForewordDeloitte

Indiastandsatthecuspofaconsumer

revolution.Withrisingincomes,rapid

urbanisationandatech-savvy,aspirational

population,thecountryisemergingasone

oftheworld’smostdynamicconsumption

markets.Asdiscretionaryspendingaccelerates(privateconsumptioncurrentlygrowingat

7.3percentforFY24andpercapitaincome

surpassingUS$2,600byFY2025),1evolving

consumerpreferencesarereshapingindustries

andjewellery,consumerdurablesandfood/

foodservices,eachcategoryisexperiencing

significantchangedrivenbyevolving

consumeraspirations,digitalacceleration

andincreasedbrandawareness.Thereport

alsoexaminesthespecificdriversinfluencingthesesectors,suchasthepremiumisation

ofeverydayproducts,thegrowingdemand

forpersonalisedexperiencesortheriseof

sustainability-drivenconsumption.Additionally,

AnandRamanathan

andredefiningthecompetitivelandscape.By

itexploreshowthesetrendswilllikelyshape

PartnerandConsumer

FY2030,discretionaryspendingisexpected

eachsector'sfuturetrajectory,offeringinsights

IndustryLeader,

toregisteran8.7percentCAGR,withurban

intoemergingopportunitiesandpotential

DeloitteIndia

spendinggrowingat8.4percentandruralspendingpostingaCAGRof9.1percent.

challenges.

Thisreportexploresthekeyforcesdriving

India’sconsumptionstory–fromthegrowingaffluenceofmiddle-high-incomehouseholds

totheincreasinginfluenceofGenZand

millennials(expectedtoreach50percent

ofthepopulationby2030).2Itexamines

thetransformationofretail,thesurgein

premiumisation,theexpansionofcreditaccess(expectedtogrow3Xduring2024–2030),andtheevolutionofexperience-ledconsumptionacrosssectors.Byanalysingshiftsinhousehold

Theimplicationsforbusinessesareclear–

successinthisnewerawillrequireagility,

innovationandadeepunderstandingofIndia’sdiverseconsumerbase.Brandsmustrethinktheirvaluepropositions,embraceasset-lite

modelsandharnesstechnologytocreate

meaningfulconsumerconnections.Those

anticipatingandadaptingtotheseshiftswillbebestpositionedtothriveinIndia’sevolvingretaillandscape.

Explorethisreporttogainadeeper

PraveenGovindu

expenditurepatterns,therapidadoption

understandingoftheopportunitiesshaping

Partner,

ofdigitalcommerceandtheexpansionof

India’sretaillandscape.Asconsumer

DeloitteIndia

organisedretail(growingata10percent

CAGRandexpectedtoreachUS$230billionby2030),thereportprovidesaforward-lookingperspectiveonwherethemarketisheaded.

Thereportanalyseskeysectorstoshowhowrisingdiscretionaryspendingtransformsthem.Fromapparel,footwear,health,wellnessandfitnesstohomeandhouseholditems,gems

preferencesevolveandnewbusinessmodelsemerge,thisisamomenttoreimagine

strategies,embraceinnovationandbuild

strongerconnectionswithIndia’snext

generationofshoppers.Maythisreportserveasacatalystforboldideas,informeddecisionsandsustainablegrowthintheyearsahead.

1.

/world/india/india-forecasts-202425-economic-growth-64-government-statement-2025-01-07

2.

https://nasscom.in/knowledge-center/publications/gen-z-and-millennials-reshaping-future-workforce

India'schangingdiscretionaryspending:Keyinsightsforbrands

5

ForewordRAI

Indiasretaillandscapeisevolvingrapidly,

shapedbyrisingincomes,expandingcreditaccessandthegrowinginfluenceofyoungconsumers.Asdiscretionaryspendingrises,brandshaveanunparalleledopportunitytoengagewithanincreasinglyaspirationalanddigitallyconnectedconsumerbase.

Forretailers,thechallengeistwofold:

understandingtheevolvingconsumermindsetandaligningstrategiestomeetthesenew

expectations.Organisedretailisgaining

momentum,digitaladoptionisaccelerating

andpurpose-drivenchoicesarebecoming

mainstream.Asthesectoradapts,brandsthatstayaheadofthesetrendswillthrive.

TheRetailersAssociationofIndia(RAI)hasbeencollaboratingwithDeloitteforyearstodecode

Thisreportservesasavaluableresource

KumarRajagopalan

theseshiftsandhelpbusinessesnavigatethe

forretailleaderslookingtotapintoIndias

CEO,RetailersAssociationof

changingmarket.Thisyearsreport,India's

nextphaseofconsumptiongrowth.We

India(RAI)

changingdiscretionaryspending:Keyinsightsforbrands,highlightskeytrendsthatwilldefinethefutureofretailfrompremiumisationandexperience-drivenconsumptiontotheriseofnewcommercemodels.

hopetheseinsightswillenablebusinessestocraftstrategiesthatresonatewithtodaysconsumerswhiledrivingsustainableand

profitablegrowth.

India'schangingdiscretionaryspending:Keyinsightsforbrands

6

IntroductionandconsumerspendingbehaviourinIndia

India'schangingdiscretionaryspending:Keyinsightsforbrands

7

Introduction

India’sconsumermarketisonthebrinkofasignificant

transformation,drivenbyrisingincomesandevolving

spendingpatterns.Withpercapitaincomesurpassing

US$2600(FY2025)athresholdhistoricallylinkedtoasurge

indiscretionaryspendingIndiaispoisedforaccelerated

consumptiongrowthacrossmultiplecategories.By2030,the

percapitaincomeisexpectedtoexceedUS$4,000,1further

boostingdemandforpremiumgoodsandservices.IndiasGDPisprojectedtogrowatan11percentCAGR,reachingUS$7.3

trillionbyFY2030,withdomesticconsumptionpowering60

percentoftheeconomy.Oncoursetobetheworldsthird-

largestconsumermarketby2026,Indiaiswell-positionedtoreapthebenefitsofademographicdividend.SurpassingGermany,

IndiasprivateconsumptionhasalmostdoubledtoUS$2.1

trillionin2024fromUS$1trillionin2013,andduring201323,Indiasconsumptiongrewat7.2percentCAGR,fasterthan

China,theUSandGermany.2&3

Globaltrendssuggestthatasincomesrise,discretionaryspendingonautomobiles,travelandlifestyleproducts

experiencesexponentialgrowth.Adeclineinhouseholdsavings,from20.1percentofGDPinthepre-pandemicdecadeto18.4

percentinFY2023,furthersignalsanincreasingwillingnesstospend,reinforcingIndiaspositionasakeydriverofglobalconsumption.4

Despitethispotential,discretionarycategorypenetrationin

Indiaremainssignificantlylowerthanindevelopedmarkets,

highlightingvastuntappedopportunities.Carownershipin

Indiaisjust57per1,000people,comparedwith850+intheUS5;India'sinternationalairtravelpenetrationisverylowaround0.13seatsperperson,comparedwithroughly3.11inAustraliaand3.03intheUS6.

Modernretailcontributesonly12percentoftotalsales,

comparedwithmorethan80percentindevelopedeconomies.Similarly,creditcardpenetrationremainsat5percent,

comparedwithover65percentinmaturemarkets,reflectingtheearly-stagenatureofIndia'sconsumercreditlandscape.5,6,7&8.

Keyconsumptiontrendsandgrowthdrivers

DiscretionaryconsumptioninIndiaisacceleratedbyseveralfactors,suchasincomegrowth,Indiasdemographicdividendandchangingconsumptionbehavioursupportedbygreateraccesstocredit.

Risingdisposableincome

GDP(US$Tn)

CAGR-11%

$7.3

$5.4

$4.0

FY24FY27FY30

Percapitaincome(US$)

CAGR-7.5%

$4,000

$3,242$2,628

FY24FY27FY30

Source:DeloitteAnalysis,NationalStatisticalOffice(NSO)

India'schangingdiscretionaryspending:Keyinsightsforbrands

8

WithGDPexpectedtogrowat11percentCAGRandGDPpercapitaexpectedtogrowat7.5percentCAGRduringFY20242030,thisstrongupwardtrendinpurchasingpowercreatesafavourableenvironmentforconsumer-drivengrowth.9

Additionally,about4percentoftheworking-agepopulation,

or60millionIndians,earnedmorethanUS$10,000annually

in2024anotablerisefrom24millionin2015.10Thisfigureis

expectedtoreach100millionby2027and165millionby2030.11Asincomerises,premiumproductswillbecomemoreaffordableforconsumers,resultinginashifttowardshigherdiscretionaryspending.

GenZ’sgrowinginfluence

India'spopulationsplitacrossgenerationsin2024

356

377

304

246

159

SilentGen&BabyBoomers(1928-1964)

GenX

(1965-1980)

Millennials

(1981-1996)

GenZ

(1997-2012)

GenAlpha

(2013andlater)

Population(Million)

Source:DeloitteAnalysis,Secondaryresearch20

India’s733millionGenZandmillennials—theworld’slargestcohortdrivediscretionaryspendingwiththeirtech-savviness,globaltrendadoptionandrisingpurchasingpower.Social

mediafuelsawareness,whilee-commerceexpandsbrand

accessacrossIndia,includingsmallertowns.GenZshowshigh

transactionfrequencyinfood,beverages,retailandhospitality,favouringexperiencesandfrequentindulgences.Their

dominance(projectedat50percentby2030)ensurescontinuedinfluenceonconsumption,surpassingtheglobalaverageof46percent.12

Expansionofcreditaccess

Numberofcreditcards(inMn)

CAGR-19.5%

296

174

102

24-MarMar-27EMar-30E

Creditcardissuance(inMn)

Indiascreditcardmarketisexpectedtotriplefrom102millionin2024to296millionby2030,drivenbydigitaladoptionand

financialinclusion.IndiatoexperienceathreefoldjumpincreditcardspendingbyFY2030.13

IndiascreditcardspendingisexpectedtotriplebyFY2030,

withtransactionsrisingfrom3.6billionto7.7billionandtotal

valuesurgingfromINR18.3trilliontoINR58trillion.TheaverageticketsizewillalsoincreasefromINR5,142toINR7,527.

Thegrowthisattributedtothebroaderadoptionofcredit

cardsandtheirintegrationwithUPItransactions.14Otherkey

growthdriversincludetheentryofnewissuers,whichenhancescompetitionandexpandsmarketreach.Withexternalpartners,banksofferspecialdealscateringtocustomerpreferences.

Source:DeloitteAnalysis,Secondaryresearch20

India'schangingdiscretionaryspending:Keyinsightsforbrands

9

CurrentdiscretionaryspendingbehaviourinIndia

MonthlypercapitaexpendituretrendacrossIndia(INR)

Differenceas%ofruralpercapitaexpenditure6,996

6,460

71%70%

3,7744,122

2,630

84%

1,429

RuralUrbanRuralUrbanRuralUrban

201220232024

Source:Deloitteanalysis,NationalStatisticsOffice(NSO)

AccordingtotheHouseholdExpenditureConsumptionSurvey,householdexpendituresinruralandurbanIndiagrewat

a9.23–8.49percentCAGRfrom2012to2024.Additionally,

theconsumptionsurveyshowsanarrowingrural-urban

consumptiongap,asthedifferencebetweenruralandurbanexpendituresasapercentageofruralhasdecreasedfrom84percentto69.7percentfrom2012to2024.15,16

Thesurveyalsoindicatesthathouseholdsallocateadecreasingshareoftheirtotalexpendituretofooditems.Percapita,the

shareofexpensesonfooditemshasfallenfrom~60percentand~48percentinruralandurbanIndia,respectively,to~47percentand40percentbetween2012and2024.

India’shouseholdexpenditurehasevolvedsignificantlyover

thepastdecade,drivenbyrisingincomesandimprovedliving

standards.From2012to2023,ruralMPCEsurged2.6xfrom

INR1,430toINR3,773,enablingashiftbeyondnecessities.Ruraldietshavediversified,withhigherspendingonmilk(7.22percentofMPCE),beveragesandprocessedfoods(10.64percent)and

fruitsandvegetables(3.8percent).Urbanhouseholdscontinuetoleadindiscretionaryspending,butruralconsumersrapidlyincreasenon-foodexpendituresontechnology,servicesand

lifestyleproducts.Thistransformationisfuelledbyhigherincomes,infrastructuregrowthandevolvingconsumptionpatterns,narrowingtherural-urbandivide.17

India'schangingdiscretionaryspending:Keyinsightsforbrands

10

ShiftingconsumptionpatternsinIndiahaveledtorisingdiscretionaryspendingandevolvingpriorities

Percentagespendonfoodexpenditure(2012-2024)

50%

49%

54%

50%

15%

21%

21%

10%

15%

28%

9%

9%

9%

26%

21%

13%

RuralUrban

2012

Cerealsandpulses*

Beverages,processed

food,anddine-out

RuralUrban

2024

Egg,fish,andmeatOthers**

*Includescerealsubstitutesandpulse-products

**Includesdairy,oil,fruits&vegetables,sugar,salt,andspicesSource:Deloitteanalysis,NationalStatisticsOffice(NSO)

Between2012and2024,India’sconsumptionpatternshave

undergonesignificantshifts,withamarkedevolutionin

discretionaryspendingamongruralandurbanhouseholds.

Notably,expenditureonessentialitemssuchascerealshas

decreaseddramatically,from21–26percentoffood-related

spendingin2012tojust13–15percentin2024.Thisdeclinehasbeenaccompaniedbyanotableincreaseinspendingonprotein-richfoodssuchaseggs,fishandmeat,alongsideprocessed

foods,diningoutandorderingin.Together,thesecategories

nowaccountfor31–37percentoffood-relatedexpenditure,upfrom24–30percentin2012.Packagedfoodhasseenthehighestgrowth,postingaCAGRof~15percent,whilespendingoneggs,fishandmeathaswitnessedapproximately12percentCAGR.18

Theshifttowardsbeverages,processedfoodsandready-to-eatmealsreflectsIndia'sgrowingurbanisation,globalinfluencesandrisingincomes.Aseconomicwell-beingimproves,

householdsspendmoreonconvenienceandpremium

options,signallingamovebeyondessentialsustenance

consumptiontowardsamoreleisure-driven,diversifieddiet.Urbanhouseholdsincreasinglyadoptalifestyleprioritisingconvenience,withpackagedfoodandready-to-eatmeals

becomingintegraltodailylife.

Intermsofoverallspending,discretionarycategorieshaveseenstronggrowth,withnotableincreasesindurable

goods,transport,rent,education,clothing,footwearand

entertainment.Bothruralandurbanhouseholdshaveshiftedasignificantportionoftheirspendingtowardstheseareas

Percentagespendonnon-foodexpenditure(2012–2024)

40%

36%

43%

41%

12%

11%

11%

9%

14%

10%

10%

11%

11%

11%

12%

10%

13%

15%

9%

14%

RuralUrbanRuralUrban

20122024

TravelandconveyanceDurablegoods

Others*

ClothingandFootwear

Misc.&Entertainment

*Includeseducation,alcohol&tobacco,consumerservices,fuel,andrentSource:Deloitteanalysis,NationalStatisticsOffice(NSO)

Ruralhouseholdsarenowallocatingmoretoconveyance

(14percent),medicalexpenses(13percent)andclothing

(13percent),whileurbanhouseholdsarespendingmoreonconveyance(14percent),entertainment(11percent)and

durablegoods(11percent).

Thehigherspendingondurablegoodspointstoacollectivedesirefortechnologicalupgradesandcomfort,whilethe

risingexpenditureonentertainmenthighlightsthegrowingimportanceofleisureactivities.Theincreaseinconveyancespendingreflectsamoremobileworkforce,aspeople

investmoreinleisuretravelandseekbetteremployment

opportunities.Despitestronggrowthindiscretionaryspending,thesecategoriesremainunderpenetratedcomparedwithothercountries,underliningthepotentialforfurtherexpansionas

India’smiddleclassgrows.

Thisevolutionofspendinghabitsmarksaclearshifttowards

higherdiscretionaryexpenditure,particularlyinurbanareas,

whereconvenience,entertainmentandcomfortarebecomingkeydriversofconsumption.However,ruralhouseholdsarealsograduallyembracingthesechanges,reflectingabroadertrendtowardsmorediversifiedandhigher-valuespending.

Forexample,thehouseholdpenetrationrateforairconditionersiscurrentlyonly8percent,comparedwiththeglobalaverage

of42percent.19Similarly,privatecarpenetrationstandsat6.7percentofIndianhouseholds.20Incategoriessuchasdiningout,theaveragefrequencyinIndiais5timesamonth,muchlowerthanthatofChinaandtheUSat25–30timesamonth.21

India'schangingdiscretionaryspending:Keyinsightsforbrands

11

ACpenetrationinhouseholds

100%

90%91%

42%

16%

8%

IndiaBrazilGlobalChinaUKUSA

Source:AdityaBirla

FutureoutlookofdiscretionaryexpenditureinIndia

Ruralspendingisexpectedtoincreasinglyalignwithurban

trends,withaslightreductioninfoodexpenditureandashift

towardsprocessedfoods,diningoutandentertainment.By

2030,foodspendinginruralhouseholdsisexpectedtodecreasefrom~51percentto~49percent,whileforurbanhouseholds

isexpectedtoseeadeclinefrom~42percentto~40percent.Packagedfoodanddiningoutareexpectedtoseeincreased

allocation,risingfrom9.4percentto11.3percentinruralareasand10.6percentto12.3percentinurbanareas.22

Spendingonconsumerelectronicsandappliancesisexpectedtogrowasaspirationalusersgainaccesstofinancingoptions.

Travelandconveyancespendingisexpectedtorise,supportedbyhigherincomesfromthegrowingservicesectorand

improvedinfrastructure.Medicalexpensesarealsolikelyto

increaseashealth-consciousconsumersinvestinhealthtechandnutritionsupplements.

Insummary,discretionaryspendinginIndiaisexpected

tocontinuegrowing,particularlyinconsumerelectronics,

entertainment,travelandhealth.Thesesectorsaredrivenbyrisingincomes,urbanisationandgreateraccesstocredit.

2030

2023

Discretionarypercentageshareforecastinurbanhouseholds(2023-2030)

40.45%10.93%1.59%15.01%5.17%5.24%

3.77%3.00%3.48%5.98%3.77%1.61%

42.20%8.72%2.37%11.37%6.22%5.88%

5.39%3.13%3.74%5.74%3.67%1.57%

30%40%50%60%70%80%90%100%

0%10%20%

Apparel&FootwearConsumerDurables

Home&Household***Education

Health,Wellness&Fitness**Travel&Recreation

Food&FoodService*Gems&Jewellery

Source:Deloitteanalysis,NationalStatisticsOffice

India'schangingdiscretionaryspending:Keyinsightsforbrands

12

2030

2023

Discretionarypercentageshareforecastinruralhouseholds(2023-2030)

49.03%

9.52%

2.12%9.56%4.28%6.09%

8.08%

3.20%3.56%3.21%0.17%1.19%

9.70%

51.23%

2.26%7.72%6.52%4.97%

3.27%3.56%3.23%0.43%1.06%

6.04%

30%40%50%60%70%80%90%100%

0%10%20%

Apparel&FootwearConsumerDurables

Home&Household***Education

Health,Wellness&Fitness**Travel&Recreation

Food&FoodService*Gems&Jewellery

Source:Deloitteanalysis,NationalStatisticsOffice

*Includesfoodandstaples,packagedfoodanddine-out,andalcoholandtobacco.

**Includesmedical,beautyandpersonalcare.

***Includesfurniture,homecare,kitchenware,homesafety,lightinganddécor,etc.

****Includesentertainmentandothermiscellaneousexpenses,

India'schangingdiscretionaryspending:Keyinsightsforbrands

13

OverallshiftsexpectedintheretailmarketinIndia

Shiftfromunorganisedtoorganisedretail

UnorganisedvsorganisedretailinIndia,US$billion

1375

8%

872

10%

21%

325

230

132

103

Traditional

(Unorganised)

OrganisedRetail

Online

(Brick&Mortar)

20242030

Source:DeloitteAnalysis,Secondaryresearch

India'sretailsectorisundergoingasignificanttransformation,

withasteadyshiftfromunorganisedtoorganisedformats.Whiletraditional(unorganised)retailremainsdominant,growingfromUS$872billionin2024toUS$1375billionby2030(8percent

CAGR),organisedbrick-and-mortarretailisexpandingata10percentCAGR,reachingUS$230billionby2030.

Themostrapidgrowthisseeninonlineretail,whichissettotriplefromUS$103billionin2024toUS$325billionby2030

(21percentCAGR),drivenbyincreasinge-commerceadoption,digitalpaymentsandevolvingconsumerpreferences.

ThisshiftunderscoresIndia'sevolvingretaillandscape.

Organisedanddigitalretailisgainingprominence,offeringenhancedconvenienceandaccessibility.

Indianluxurymarket(inUS$Bn)

$31

CAGR-20%

$10

20242030Source:DeloitteAnalysis,Secondaryresearch

Growingpremiumisation

India’sluxurymarket,thefastestgrowinginAsia,isprojected

toreach~US$30billionby2030,drivenbya20percentCAGR.24

Luxuryandpremiumproductsarenowavailablebeyondbigcitiesthroughonlineshoppingplatforms.“Bridgetoluxury”itemsofferpremiumbrandsatlowerprices,attractingmoreconsumers,

especiallytheaspirationalmiddleclass.

Theriseofquickcommerceplatformshasfacilitatedeasieraccesstopremiumproducts,enablingconsumerstopurchasehigh-enditemsswiftlyandconveniently.MajorplayerssuchasAmazon,

FlipkartandBigBaskethaveenteredthequickcommercerace,enhancingtheavailabilityandaccessibilityofpremiumgoodsacrossIndia.

Experience-ledconsumption

InIndia,consumerbehaviourisevolvingfromsimplybuying

productstoseekingimmersive,memorableexperiences,atrendcommonlyknownas“retailtainment.”Thisconceptblendsretail

withentertainmenttotransformeveryshoppingmomentintoanengagingevent.Insectorssuchasapparel,lifestyle,consumer

electronicsandbeauty,brandsareintegratingadvanced

technologiessuchasAI,machinelearning,dataanalytics,

augmentedrealityandvirtualrealitytocraftpersonalised

experiences.Forexample,augmentedrealitytoolsallowshopperstovirtuallytryonoutfitsormakeup,enhancingdecision-makingandreducingreturnrates.

Beyonddigitalenhancements,companiesareembracing

omnichannelstrategiesthatuniteonlineandofflineexperiences.ModelssuchasBuyOnline,PickUpIn-Store(BOPIS)andBuy

Online,ReturnIn-Store(BORIS),alongwithrapiddelivery

systems,ensureconsumersenjoytheconvenienceofonlineshoppingcombinedwiththetactilebenefitsofphysicalstores.Thisseamlessintegrationmeetsthedemandforspeedand

personalisationanddeepenscustomerengagement.

India'schangingdiscretionaryspending:Keyinsightsforbrands

14

Riseofnewcommerce

224

India'snewe-commerce(US$Bn)

31.5%

119

24%

55

43.5

47%40

47%

32

31%

10

4

2

5.5

TotalD2CSocialQuickLive

20242030XX%-CAGR%

Source:DeloitteAnalysis18

India’snewe-commercemarketissettogrowover5X,reachingUS$224billionby2030fromUS$43.5billionin2024ata31.5

percentCAGR.TheD2Csegmentisexpectedtojumpnearly4XtoUS$119billion,drivenbypersonalisedshoppingtrends.23

Socialandquickcommercewilllikelywitnessthehighestgrowth,expanding10Xata47percentCAGR,fuelledbyinfluencer-drivenshoppingandinstantdeliveries.Livecommerce,projectedto

reachUS$10billion,highlightstheriseofinteractiveshopping

experiences.Businessesareadoptingomnichannelstrategiestoenhanceengagementinthisdigital-firstretaillandscape.24

Sustainabilityandpurpose-drivenchoices

India’sretailsectorisincreasinglydrivenbygreenconsumerismandethicalsourcing.Thereisarisingdemandfororganic

groceries,makingIndiatheworld’slargestproducer.25Other

popularitemsincludeupcycledapparel,veganbeautyproductsandsustainablepackaging.ThistrendisdrivenbymillennialsandGenZ,whoareclimate-consciousandseektransparencyfrom

brandsabouttheirsourcingandproduction.26

Additionally,theIndiangovernmentseekstoreduceGDP

emissionsintensityby45percentby2030.27Thiscommitment

encouragesretailerstoadoptrenewableenergy,buildsustainablesupplychainsandoperateeco-friendlystores.Tostandoutandgaintrust