Tuesday, June 21, 2011

Retail Industry Landscape and Trends in India - Articles, Contentwriter.in

Retail Industry Landscape and Trends in India

Introduction
Post liberalization Indian economy has been traversing boundaries and growing at a pace never seen before. Right demographics with 81 percent below 45 years age group along with significantly improved ability to earn and also the propensity to spend have been the driving force for the growth of the Indian retail industry along with benevolent macroeconomic conditions. The Indian consumer has also evolved significantly over the past decade. The new image of an average Indian consumer today is a rich, young consumer who aspires to get great the best value for their hard earned money. This new consumer is at the center of the today’s organized retail industry. To cater to the needs of this consumer many sprawling shopping centers, multi-storied malls and huge complexes that offer shopping, entertainment and food under one roof have been built in the past five years in the major Indian cities. About 400 new malls, 1,500 supermarkets and 350 departmental stores are currently being built in various Indian cities. In addition to just giving value to the Indian consumer and just building supermarkets, the organized retailers need to be prepared for a quick scale up across dimensions of people, processes and technology.
     
The Indian Retail Industry Overview
The GRDI position for India is at number three with China and Kuwait having caught up with us in the race but still in the last two years India has witnessed an explosion of organized retail formats in the otherwise Fragmented Indian retail market.



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