5 times to reach a whopping $500 billion by 2026, a new report showed on Monday.New Delhi, Nov 15, 2015 : .As India’s online shopping booms, with an increase of smartphone users and Internet users, India’s total online consumption will rise 2.5 times to reach $500 billion by 2026.This is according to a Monday report.
In the next five years, India is expected to see 24 million gated community households in major cities (from 16 million at the moment), along with witnessing the growth in spend per household from the current $13,000-$14,000 to $19,000-$20,000, bring the overall spend to $460-480 billion (2.3-2.5x of the current spend).India will see 24 million homes in gated communities in major cities over the next five-years (up from 16 million currently).India will also witness a growth in household spend, which is now $13,000-$14,000 to $19,000–$20,000.This will bring India’s total spend to $460-480billion (2.3-2.5% of current spend).

In that period, India will be second to the US that will have 125 million gated community households with $25,000 as spend per household on average.

India will be second in that time period to the US, with 125 million households living in gated communities and an average household spending $25,000 per year.

According to data provided by Bengaluru-based market research firm RedSeer, 90-95 per cent of the 16 million gated community households in India’s major cities are now shopping online (in contrast to 40-45 per cent of non-gated households who shop online).

RedSeer, a market research firm based in Bengaluru, has reported that 90-95% of India’s 16 million gated communities are shopping online.This compares to the 40-45% of non-gated households who shop online.

“By 2026, the total consumption in Indian gated communities will increase by 2.5x reaching $500 billion,” the report showed.The report stated that by 2026, Indian gated communities’ total consumption will rise 2.5x to reach $500 billion.

The gated community is more than the sum of its parts (walled living, controlled entrance and exit, pool, fitness centre, supermarket, clubhouse, amphitheatre, etc.Gated communities are more than their parts.They offer a safe and secure environment, pool, gym, amphitheatre, supermarket, clubhouse, clubhouse, and controlled entry and exit.).

“It’s an ecosystem unto itself.It’s an ecosystem in and of itself.So quick is its proliferation across Indian cities and so distinctive its residents’ lifestyles that the gated society is now an indispensable player in India’s consumption story,” the RedSeer report mentioned.It is rapidly spreading across Indian cities, and its residents have such distinctive lifestyles that it is an essential player in India’s consumption story,” RedSeer reported.

With 45 per cent of spend and 32 per cent of population in top-50 cities of India, gated communities are a significant part of India’s consumption story.Gated communities make up a significant portion of India’s consumption story, accounting for 45 percent of India’s spend and 32% of India’s top-50 cities.

Although gated community households are mushrooming, they still number in the minority even in major cities.Although the number of gated communities is increasing, they are still a minority in major cities.

“The cost of purchasing and maintaining such a household, however, is higher than elsewhere.The cost of buying and maintaining such a house is more expensive than in other places.

Which is why residents have higher discretionary spending relative to non-gated households,” the report added.According to the report, residents have more discretionary spending than non-gated households.

In the next five years, the spending power of each household will mirror that of identical households in the UK and Germany.Over the next five-years, each household’s spending power will be identical to that of similar households in Germany and the UK.

“Residents of gated townships in India will be second only to their American counterparts when it comes to discretionary spending,” the report forecast.The report predicted that Indian residents living in gated towns will have discretionary spending levels second to those of Americans.

Spurred by the Covid-19 pandemic, gate management platforms went out of their way to accommodate community needs.Gate management platforms were motivated by the Covid-19 pandemic and went to great lengths to meet community needs.

The mushrooming of gated communities and their spending power will spur more innovations — and competition — in this sector, making this an exciting space to watch, the report said.According to the report, the growth of gated communities will increase innovation and competition in this sector.

na/ksk/

#Indian #community #Delhi

 

Original Source