Retailing Perspectives Challenges and Opportunities
Retailing Perspective: Challenges and Opportunities
Author: Dr. Deepanjana Varshney
Designation: Professor
Mail id: dvfaculty@rediffmail.com
Retailing has been defined as business activities involved in selling goods and services to consumers for their personal, family or household use (Berman and Evans, 2001). The emergence of new formats and the evolution of modern retail in India has attracted attention in recent years. The business press in India has carried several articles and news items in the last three years about the modern formats (Shukla 2001; Anand &
Rajshekhar, 2001; Bhattacharjee, 2001).India is a land of multiple retail formats that range from the street markets to neighbourhood kirana stores to large, very modern “bazaars”.India retail sector ,mirroring the rapid growth of the economy,is poised to cross US $ 450 billion in revenues in 2011 and touch or exceed US $ 650 million in 2016.
The purpose of this paper is to focus on three major dimensions of the Indian Retailing, namely, ❑ the changing Retail profile of India. ❑ The changing dynamics of Retailing Marketing Mix ❑ The impact of FDI on Retailing industry
Keywords: Retail format, organized retail, FDI, traditional kirana, lifestyle, evolution
The changing Retail Profile in India: Opportunities
The retail sector in India is highly fragmented, and organized retail in the country is at a very nascent stage. There are about 12 million retail outlets spread across India, earning it the epithet of a “nation of shopkeepers.” India has one of the highest retail densities in the world at 6% (12 million retail shops for about 209 million households). The rapidly emerging Indian retail sector is experiencing unprecedented growth and is being widely recognized as one of the biggest potential growth markets in the world. Since 2005, India’s GDP has been growing at a healthy rate of 7%, and retail is emerging as one of the largest and most rapidly growing sectors,
Author: Dr. Deepanjana Varshney
Designation: Professor
Mail id: dvfaculty@rediffmail.com
Retailing has been defined as business activities involved in selling goods and services to consumers for their personal, family or household use (Berman and Evans, 2001). The emergence of new formats and the evolution of modern retail in India has attracted attention in recent years. The business press in India has carried several articles and news items in the last three years about the modern formats (Shukla 2001; Anand &
Rajshekhar, 2001; Bhattacharjee, 2001).India is a land of multiple retail formats that range from the street markets to neighbourhood kirana stores to large, very modern “bazaars”.India retail sector ,mirroring the rapid growth of the economy,is poised to cross US $ 450 billion in revenues in 2011 and touch or exceed US $ 650 million in 2016.
The purpose of this paper is to focus on three major dimensions of the Indian Retailing, namely, ❑ the changing Retail profile of India. ❑ The changing dynamics of Retailing Marketing Mix ❑ The impact of FDI on Retailing industry
Keywords: Retail format, organized retail, FDI, traditional kirana, lifestyle, evolution
The changing Retail Profile in India: Opportunities
The retail sector in India is highly fragmented, and organized retail in the country is at a very nascent stage. There are about 12 million retail outlets spread across India, earning it the epithet of a “nation of shopkeepers.” India has one of the highest retail densities in the world at 6% (12 million retail shops for about 209 million households). The rapidly emerging Indian retail sector is experiencing unprecedented growth and is being widely recognized as one of the biggest potential growth markets in the world. Since 2005, India’s GDP has been growing at a healthy rate of 7%, and retail is emerging as one of the largest and most rapidly growing sectors,
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