Consumption in gated communities in India poised to grow 2.5 times to touch $500 billion in five years: Re - Economic Times

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India’s gated communities in major cities are emerging as one of the biggest consumption areas with consumption across gated communities poised to grow over two times and reach $500 billion by 2026 with per household spend of $20,000, a latest report said.

The report by home grown internet-focused consulting firm RedSeer by 2026, India’s gated community consumption will be second only to the US. It said gate management platforms are projected to reap rich dividends. Households in gated communities to number 32 million by 2031, making this a significant market for digital-first businesses, the report said.

At present, gated communities comprise 32% of India’s population in top-50 cities though they account for 45% of overall spend.

“The significance of gated communities in India’s consumption story cannot be overstated. Few customer segments in the country are projected to have such high growth in overall spending over the next five years. Our research also shows that as many as 95% of these households across the top-50 cities shop online.” said Ujjwal Chaudhry, partner at RedSeer Consulting.

By 2026, such communities are projected to host 24 million households which is a 50% increase over the current 16 million households. The rise in these households will be complemented by an increase in annual spending, up from the present $13,000-14,000 to $19,000-20,000 in a five-year span, RedSeer noted.

“In effect, the annual spends of households in India’s gated communities will mirror those of identical households in the UK and Germany, second only to the US ($25,000 a year),” said the report.

The report said consumption through digital channels currently accounts for 15-20% of spending in gated households. It also said growing need for security solutions and quick digital adoption are leading to increased use of gate management platforms and apps.

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Consumption in gated communities in India poised to grow 2.5 times to touch $500 billion in five years: Re - Economic Times
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