Hyperlocal Future in India - Specific to Fast Moving Electrical Goods (FMEG) Industry

Abstract

The hyperlocal future of India is being driven by the digitisation of the nation, growing middle-income households and rapid urbanisation. On the other hand, fast-moving electric goods (FMEG) is also the fastest growing industry in today’s context market of India due to rapid urbanisation and growing consumption of electrical goods. The growth that India has shown globally has shown that in its domestic market, the FMEG market could also see a significant rise shortly. This further begs the question of the hyperlocal future of FMEG in the country to meet the growing demands effectively.This research aims to provide a concise discussion on the future of the hyperlocal market of India specific to the fast-moving electrical goods (FMEG) industry. Peer-reviewed journals, annual reports and online articles have been used to provide the required findings with the help of multiple themes. From the analysis, it had been found that hyperlocal retailing in the Indian FMEG industry is increasing with numerous players looking to get a share of the hyperlocal market in the country. The FMEG market is witnessing a shift from traditional retailing to hyperlocal retailing. The hyperlocal future in the FMEG sector is driven by innovation and tough competition with all the major players looking to give their best to gain an advantage. Hyperlocal business models are going to expand at a significant pace in the future to meet the growing needs of FMEG in the country. The digital economy supported by rapid urbanisation and the rising middle class is going to drive the hyperlocal market of FMEG.