Bridging Skill Gap in Retail Sector
“BRIDGING THE SKILL GAP IN THE
INDIAN RETAIL SECTOR”
OVERVIEW OF INDIAN RETAIL INDUSTRY:
Indian robust macro and micro economics fundamentals, such as : 1. robust GDP growth 2. higher incomes 3. increasing disposal income 4. favorable demographics and supportive government policies
These will accelerate the growth of the retail sector. Indian retail industry is perhaps one of the most challenging, dynamics and exciting markets to operate in. India is an economy of $1.43 trillion and expected to reach $2.0 trillion by 2020.sixty percent of Indian total population lies between 15 to 35 years. Top ten cities of India account 10% of total population; however account one third of disposal income. Organized retail, accounts for around 5% of the total Indian retail market. Organized Retail has been growing at an impressive rate of 35% to 45% Y-O-Y in the last few years Compared to 9-10% growth in the overall retail industry. Unorganized retailing contributes to about 95% of total retail revenues. Unorganized retailing which involves the local kirana shops, paan/beedi shops etc continues to be the backbone of the Indian retail industry.
SEGMENT BASED ON RETAIL PRODUCTS: 1. food and grocery 2. Jewellery 3. Clothing,textiles and fashion 4. Watches 5. Footwear 6. Health care and beauty care 7. Pharmaceuticals 8. Consumer durables 9. Mobile handsets 10. Utensil, furniture 11. Entertainment 12. Books, music
SHARE OF VARIOUS SEGMENTS OF ORGANISED RETAIL: Sl no | Consumption category | Share in OrganizedRetail | Extent of Penetration | 1 | Clothing, Textiles and Fashion Accessories | 38% | 23% | 2 | Food and Grocery | 11% | 1% | 3 | Consumer Durables, Home Appliances andEquipments | 9% | 12% | 4 | Out of Home Food (catering) services | 7% | 8% | 5 | Furnishings, Utensils, Furniture - Home andOffice | 6% | 11% | 6 | Mobile handsets, Accessories, and Services | 3% | 10% | 7 | Entertainment
INDIAN RETAIL SECTOR”
OVERVIEW OF INDIAN RETAIL INDUSTRY:
Indian robust macro and micro economics fundamentals, such as : 1. robust GDP growth 2. higher incomes 3. increasing disposal income 4. favorable demographics and supportive government policies
These will accelerate the growth of the retail sector. Indian retail industry is perhaps one of the most challenging, dynamics and exciting markets to operate in. India is an economy of $1.43 trillion and expected to reach $2.0 trillion by 2020.sixty percent of Indian total population lies between 15 to 35 years. Top ten cities of India account 10% of total population; however account one third of disposal income. Organized retail, accounts for around 5% of the total Indian retail market. Organized Retail has been growing at an impressive rate of 35% to 45% Y-O-Y in the last few years Compared to 9-10% growth in the overall retail industry. Unorganized retailing contributes to about 95% of total retail revenues. Unorganized retailing which involves the local kirana shops, paan/beedi shops etc continues to be the backbone of the Indian retail industry.
SEGMENT BASED ON RETAIL PRODUCTS: 1. food and grocery 2. Jewellery 3. Clothing,textiles and fashion 4. Watches 5. Footwear 6. Health care and beauty care 7. Pharmaceuticals 8. Consumer durables 9. Mobile handsets 10. Utensil, furniture 11. Entertainment 12. Books, music
SHARE OF VARIOUS SEGMENTS OF ORGANISED RETAIL: Sl no | Consumption category | Share in OrganizedRetail | Extent of Penetration | 1 | Clothing, Textiles and Fashion Accessories | 38% | 23% | 2 | Food and Grocery | 11% | 1% | 3 | Consumer Durables, Home Appliances andEquipments | 9% | 12% | 4 | Out of Home Food (catering) services | 7% | 8% | 5 | Furnishings, Utensils, Furniture - Home andOffice | 6% | 11% | 6 | Mobile handsets, Accessories, and Services | 3% | 10% | 7 | Entertainment