Changing Dimensions of the Indian Retail Industry

Yashoda Durge

Abstract


Retail is one of the largest industries worldwide. About 47 of the Global Fortune 500 companies and 25 of Asia’s Top 200 companies are retailers. India's retail sector appears underdeveloped not only by the standards of developed countries but also in comparison with several other emerging markets in Asia and elsewhere. Retail is important due to its contribution to various economies and the employment generated by the industry. The face of Indian retail is changing and so are the consumers- and both will keep influencing each other, pulling each other to a higher level of development. New and innovative retail formats and services will attract and upgrade customer preferences while global exposure and higher disposable incomes will necessitate better and attractive retail environment. The consumer and the retailer, both stand to benefit. According to India Retail Report findings, modern retail in India has grown at a CAGR of 26.8 percent over 2010 and the Indian Retail market is poised to reach $1.3 Trillion by 2020.


Keywords


Retail, Formats, Kirana, Modern Trade

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References


CII Global Summit on Skill Development 2008

India Retail Report 2013, Images Multimedia Pvt Ltd.

Sengupta, A. ( 2008), “Emergence of Modern Indian Retail: an Historical Perspective”, International Journal of Retail & Distribution Management Vol. 36 No. 9

India Retail Report 2013, Images Group

Durge, Y. 2013, An Analytical Study of Urban Consumers’ Expectations of Retail Store Environment in Thane City

India Retail Report 2013, Images Multimedia Pvt Ltd.

India Retail Report 2013, Images Multimedia Pvt Ltd.


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