Retail industry: Consolidation wave likely to continue in 2023 amid Covid clouds

The wave of consolidation is likely to hit the shores of the country’s fast-growing retail industry next year also as larger players seek to strengthen their footprints, leverage technologies to improve efficiency and expand beyond metros.

While the growth prospects are promising, the industry is entering 2023 with “cautious optimism” amid inflationary headwinds and concerns over spurt in coronavirus cases in different parts of the world.