How Does Retail Add Value to the Society

Topics: India, Value added, Mumbai Pages: 2 (474 words) Published: August 28, 2010
Name : Navamita Atreya
Phone number: 9820947368
Postal Address: 504/ 25- B, NNP 1 and 2
New Dindoshi
Goregaon East
Mumbai 400065

Name: Swati Gupta
Phone number: 9664350997
Postal Address: 30 Pushpavan
Ram das Wadi syndicate
Kalyan W
Dist thane 421301
Guide: Dr Srini Srinivasan
Students – MMS Marketing 2009-2011
KJ Somaiya Institute of Management Studies and Research

How does Retail add value to the society
Indian retail sector until the 80s was dominated by local mom and pop stores. Retailing, at this stage was completely unorganized and it thrived as separate entities operated by small and medium entrepreneurs in their own territories. After agriculture, retail was the only sector that employed a vast population of India. Only a few Indian companies explored the retail platform on a larger scale. A great shift ushered in the Indian Retail Revolution with the eruption of Malls across all regional markets, thus marking the entrance of Organized Retail. Today India is fast becoming an attractive destination for international retail players because of its diverse population and unexplored opportunities. Most developed nations re saturated and other developing markets are still not prepared. According to Global Retail Development Index, India is positioned as a foremost destination for Retail investment and business development. A large chunk of Indian population is young with a high purchasing power. However in the quest of exploiting the numerous opportunities in India, Retail has definitely added value to the Indian society as well as globally. We examine certain arenas where the value that retail has added is significant. * Evolution from providing a product or service to giving the customer an experience to cherish. E.g. Theme Restaurants, Reliance-Ebony Lounge *...
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