Can Budget 2025 safeguard kirana stores from the quick commerce boom?
India Budget: The rise of quick commerce platforms in India is altering the traditional retail landscape. According to industry reports, these platforms, including Zepto and Blinkit, have grown at a compound annual growth rate (CAGR) of 25 percent.
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Their market share in the urban grocery segment rose to 8 percent in 2023, compared to 3 percent in 2021, Anand Ramanathan, Partner and Consumer, Products and Retail Sector Leader, Deloitte, wrote in a Budget note.
Tier 2 cities have emerged as significant contributors to this growth, according to Deloitte, accounting for 30 percent of the overall sales of quick commerce platforms. This trend highlights their expanding reach beyond major metropolitan areas.
The challenges facing kiranas
Kirana stores have faced significant challenges in FY25 due to the growing preference for quick commerce platforms, particularly in metropolitan areas. The rapid expansion of quick commerce platforms has adversely affected small retailers. The Confederation of All India Traders (CAIT) reported a 12 percent decline in revenues for kirana stores in urban areas.
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