Project Report For Provision store
Project report for Provision store is as follows.
A provision store is a shop for your daily necessities. Kirana shops mostly sell everyday necessities and regularly used food products. The size of any business is determined by the amount of money available to a local merchant. Kirana shops are exclusively found in the Indian subcontinent. Though a precise figure cannot be given, the profit margin is often between 5% and 30%. To open a provision shop, you may need to invest anything from 50,000 to a few lakh rupees.
However, there has been a shift in customer buying habits during the last few years. Customers are increasingly purchasing online, at supermarkets, or in bigger contemporary stores, and as a result, Kirana businesses are losing customers. Some of the factors leading to the share decrease include, but are not limited to, a lag in the adoption of contemporary retailing practices such as digital payments, inventory management, or even an official shop layout.
Market potential & Strategy
The retail environment in India is rapidly evolving, with global and domestic consumers and retail competing for tooth and nail to entice customers, who prefer huge, clean markets to congested small stores and purchasing online.
India’s retail sector was worth an estimated $883 billion last year, with food retail accounting for $608 billion of that total. The market is anticipated to reach $1.3 trillion by 2024. India, with a population of 1.3 billion people, has become a sought-after market with a rising base of youthful and wealthy customers throughout the years. According to Invest India,, the industry accounts for 10% of India’s GDP and accounts for 8% of India’s employment.
India is increasingly flocking to e-commerce to buy anything from gadgets to groceries, aided by online discounts and the expansion of quick delivery services across the country While Amazon.com Inc and Walmart’s Flipkart dominate the market, smaller firms have already launched app-based services for daily delivery of morning necessities such as milk and eggs.
The market in India has seen considerable development and transformation during the last 10 years. The entire size of the Indian retail industry was $275.8 billion in 2008-09 and has since increased to $700 billion in 2019. India is now the world’s fourth-largest retail market, with a projected increase to $1.1 to 1.3 trillion by 2025.
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