Abstract
Retail is India' s largest industry, accounting for over 10 per cent of the
country' s GDP and around eight per cent of the employment. Retail industry in
India is at the crossroads. It has emerged as one of the most dynamic and fast
paced industries with several players entering the market. But because of the
heavy initial investments required, break even is difficult to achieve and
many of these players have not tasted success so far. However, the future is
promising; the market is growing, government policies are becoming more
favorable and emerging technologies are facilitating operations.
Retailing in India is gradually inching its way toward becoming the next boom
industry. The whole concept of shopping has altered in terms of format and
consumer buying behavior, ushering in a revolution in shopping in India.
Modern retail has entered India as seen in sprawling shopping centres,
multi-storeyed malls and huge complexes offer shopping, entertainment and food
all under one roof. The Indian retailing sector is at an inflexion point where
the growth of organized retailing and growth in the consumption by the Indian
population is going to take a higher growth trajectory. The Indian population
is witnessing a significant change in its demographics. A large young working
population with median age of 24 years, nuclear families in urban areas, along
with increasing workingwomen population and emerging opportunities in the
services sector are going to be the key growth drivers of the organized retail
sector in India.
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