Rewriting Retail: A look at India's business revolution in 2024
Samir Krishan Modi
MD Modi Enterprises | Building Modicare, Colorbar, 24Seven, Godfrey Phillips India, Indofil Industries and Modicare Foundation
As we stand at the threshold of 2025, I find myself reflecting on the remarkable evolution of India's business landscape. What began as a revolution in food delivery has transformed into something far more significant – a fundamental shift in how Indians shop, consume, and embrace innovation.
The past year has been particularly enlightening. Quick commerce, once synonymous with groceries and meals, has expanded its horizons to beauty and wellness. When Blinkit introduced 10-minute iPhone deliveries in September, it signaled a fundamental shift in consumer expectations. Today mobile phone are edging out white goods for deliveries on quick commerce. This isn't just about speed; it's about understanding the pulse of the modern Indian consumer who expects convenience without compromise. This isn't just about speed; it's about understanding the pulse of the modern Indian consumer who expects convenience without compromise. When we look at the statistics, the demand for the gig economy swells to 40% for just food deliveries in the festive season – a clear indicator of the place it has occupied for the Indian audience. And with this availability of instant deliveries extending to electronics?and even clothing, it is a sign of:
●??????? How diverse and sophisticated our digital marketplace has become
●??????? How we have only scratched the surface of its potential
●??????? How online sales of white goods have evolved into a sustainable and lasting market trend
●??????? How it can positively impact the state of the gig economy
What excites me most is how this transformation aligns perfectly with India's commitment to sustainability. Our gig workers are increasingly adopting electric vehicles, creating a unique model where speed meets environmental consciousness. It's a proud moment when we see the world looking to India not just for market opportunities, but for sustainable solutions in urban commerce.
The direct selling industry, which has always been about personal connections, is witnessing its own renaissance. Technology hasn't replaced the human touch – it has enhanced it. Through WhatsApp commerce and conversational shopping, we're seeing a beautiful blend of traditional relationship-based selling with digital convenience. Our consultants are no longer just product experts; they're digital-savvy business leaders who leverage technology to provide personalized shopping experiences.
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In the beauty and wellness sector, this evolution is even more pronounced. The Indian consumer today isn't just buying products; they're seeking experiences, information, and authenticity. They want to know the story behind the brand, the ingredients in their products, and the impact of their purchase on the environment. This consciousness has pushed us to innovate not just in product development, but in how we reach and engage with our customers.
Looking ahead to 2025, I see several trends that will define our industry
Looking ahead to 2025, I see several trends that will define our industry. The groundwork laid in 2024 – from ONDC's nationwide expansion to 720 cities, and online accounting for 34 per cent of all electronic sales, to the integration of AI in retail experiences and the expanded scope of instant delivery – has set the stage for what's to come. The phenomenal success of WhatsApp’s contribution to brand engagement during the 2024 festive season, with 872,000 million Indians using conversational commerce, shows us where the future lies.
The rise of hyper-personalization through AI and data analytics will transform how we recommend products and services. Second, sustainable practices will become non-negotiable – from product formulation to packaging and delivery. Third, the integration of augmented reality and virtual try-ons will make digital beauty shopping more immersive and confident.
But perhaps the most significant shift I anticipate is in consumer behavior. The Indian consumer is no longer a passive recipient of global trends – they're actively shaping them. Their demand for quick, sustainable, and technologically advanced solutions is pushing businesses to innovate in ways we never imagined.
As leaders in direct selling and beauty, we must embrace these changes while staying true to our core values of personal connection and quality. The future of commerce isn't just about delivering products faster; it's about creating meaningful experiences that resonate with the evolved Indian consumer.
In conclusion, as we step into 2025, I'm filled with optimism. The convergence of quick commerce, sustainability, and digital innovation isn't just changing how Indians shop – it's setting new global standards. The world is watching as India demonstrates how to balance rapid growth with responsible practices, and how to merge traditional business models with cutting-edge technology.
The future of the Indian retail universe isn't just bright – it's blazing new trails for the world to follow.
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1 个月Hi I belong to francorp India I see a great potential in your business ,being one of your customers i feel your brand can grow globally. Please let me know if it’s possible for you to connect.
Senior Leader, Strategy | Ex-Myntra | Decathlon | Cult.fit | Double Gold medalist-NIFT | Avid Traveller
1 个月This is a very well written article. Right from articulation to the information, is brilliant! Samir Krishan Modi
Self-employed: Strategic Business Consultant Empowering Companies to Thrive in CIS & Baltic States
2 个月Sir -- your comprehensive and thought-provoking reflection is truly insightful. The seamless integration of quick commerce, sustainability, and digital innovation is setting new benchmarks and redefining the business landscape. Your vision for 2025 astutely captures the evolving consumer landscape and the opportunities it presents for businesses to innovate while remaining true to their core values. Your infectious optimism for 2025 is a testament to your inspiring leadership – thank you for sharing your compelling narrative.
AGM at Remotex Heading Artificial intelligence Vertical, Specialist of App Development, AI solutions, Risk Assessment, Security Solutions
2 个月Great insights, Boss! As I am working on variuos AI projects, I've witnessed firsthand how AI has revolutionized our lives by: - Enhancing accuracy and precision - Boosting productivity and efficiency AI's transformative power has opened up new possibilities across industries, and I'm excited to continue exploring its potential!