A Study on Retailing in India Growth and Challenges
Retailing in India has several outstanding achievements as well as impressive growth during last few decades. Indian retail market is one of the top five retail markets in the world by economic value and also it is considered as one of the fastest growing retail markets in the world. Retailing in India is the most important pillar of its economy and accounts of about 10 of its GDP. Indian retail industry is classified into organized and unorganized sectors. There is a rapid development of retailing which leads to shifting of customers from unorganized to organized sectors and it is mainly because of changing behavior and preferences of consumers. This changing behavior of consumers is due to increased income and changed life styles. Now the customer is very much aware about the product and services. He is becoming very specific and conscious about getting services by the retailers. His expectations are increasing day by day. Customers want everything under one roof i.e. shopping, food and entertainment and hence retailing in India is developing very fast. This is paper fully based on secondary data. This paper provides information about role of organized and unorganized sectors in India. It also includes various formats of retailing, current scenario, growth and challenges of retail industry and the future prospects of retailing in India.
Fostering Innovation, Integration and Inclusion Through Interdisciplinary Practices in Management
Supriya Udaykumar Mogale | Dr. C. S. Dalvi