Upcoming Retail Sectore Business in India

Topics: Retailing, Shopping mall Pages: 13 (4731 words) Published: May 1, 2013
International Journal of Computing and Business Research (IJCBR) ISSN (Online) : 2229-6166 Volume 4 Issue 1 January 2013

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ORGANIZED RETAIL SECTOR: FUTURE, CHALLENGES AND OPPORTUNITIES IN INDIA Dr. Pawan kumar Asstt. Prof (MBA) Dronacharya Institute of Management and Technology Kurukshetra, Haryana, India

ABSTRACT: This paper intends the emergence of organized retailing in india. In the era of globalization economy changes rapidly in which retail sector also transforming from traditional to organized retailing. Due to changing in the scenario of world,s economy retail sector attracts the attention of scholars make some efforts relating to study of opportunities and challenges. Since efforts have been made in this paper to highlights the present status, challenges and opportunities of retail sector in India. INTRODUCTION In India the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the India Retail Industry to grow faster. Indian retail is expected to grow 25 per cent annually. retail in India could be worth US$ 175-200 billion by 2016. The Food Retail Industry in India dominates the shopping basket. The Mobile phone Retail Industry in India is already a US$ 16.7 billion business, growing at over 20 per cent per year. The future of the India Retail Industry looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating operations. The word retail is derived from the French word retailer, means to cut off a piece or to break bulk. Therefore, a retailer is a dealer or trader who sells goods in small quantities. Retailing is the final step in the distribution of products, for consumption by the end consumers. It consists of all activities involved in the marketing of goods and services directly to the consumers, for their personal, family or household use. This excludes direct interface between the manufacturer and institutional buyers such as government and other bulk customers. Retail

International Journal of Computing and Business Research (IJCBR) ISSN (Online) : 2229-6166 Volume 4 Issue 1 January 2013
is India’s largest industry. The sector has witnessed an immense growth in the last few years. The key factors responsible for the retail boom have been the change in consumer profile and demographics, increase in the number of international brands available in the Indian market, economic implications of the government, increasing urbanization, credit availability, improvement in the infrastructure, increasing investments in technology and real estate building a world class shopping environment for the consumers. EMERGENCE OF ORGANIZED RETAILING IN INDIA: Retail trade has emerged as one of the largest industry contributing to employment generation, revenue generation, increased turn over and many more. Organized retailing is showing signs of enormous creativity. It. has emerged as one of the most dynamic and fast paced industries with several players entering the market. As a matter of fact retailing in India is gradually edge its way towards becoming the next boom industry. The emergence of Retail in India is cause for success of Indian organized Retail & Marketing. With the help of modern management techniques we will become the specialist Retailers in future. We know that the relationship between the Retailer & customer is very close than other chains of distribution. India is a nation of shopkeepers. We can see more than 12 million retail outlets in India, and India has highest density of retail outlets in the world. Retail Industry in India is at present estimated to be more than US $ 250 billion. On that part of organized retailing is estimated 3.5% i.e. $ 7.47 billion. THE EVOLUTION OF RETAIL IN INDIA While barter is considered to be the oldest form of retail trade, since independence, Retail in India...

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International Journal of Computing and Business Research (IJCBR) ISSN (Online) : 2229-6166
Volume 4 Issue 1 January 2013
[3] CRISIL Research-Retailing Annual Review 2011 [4] HSBC Global Research-India Consumer Brands & Retail, October 2007 [5] Tata Strategic Management Group-Organised Retailing in India: The next growth frontier, 2006 [6] The McKinney Quarterly-Tracking the growth of Indian Middle class, November 2007 [7] Idea taken from Research Article titled, “Retailing in India: The Way Ahead” written by Binod Kumar Sinha, Faculty Member in ICFAI Business School Raipur. [8] Various Press Sources, The Economic Times, The Hindu Business Line, The Indian Express, The Hindu, The Business Standard [9] Various websites. www.commerce.nic.in,www.rediff.com,www.timesofindia.com, [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] www.indiaretailing.com www.indianmba.com Dutt, D.2004, ‘An outlook for Retailing in India, Vision2005’ (Form a Kotler, Philip 2000, Marketing Management, 10th Ed., Prentice Hall of India Chandrasekhar, Priya 2001, ‘Retailing in India: Trends and opportunities’, Devasahayam, Madona 1998, ‘Big Deal’, Praxis Quarterly Journal on Majumdar, S.2002, ‘FDI in retailing: India as a supermarket’, Business Line, Kannan, S. 2001, ‘Huge potential awaits retailing’, Business line, Thursday, Jagannathan, V.2001, ‘Vivek’s – a store more reputed than the brands it Bhushan, R.2002, ‘The show begins here’, Business Line, Thursday, Aroor, S. and Singh, S.2004, ‘Market Dynamics: Cigarette Retailer as The Sanjay Manocha et al / VSRD International Journal of Business &
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International Journal of Computing and Business Research (IJCBR) ISSN (Online) : 2229-6166
Volume 4 Issue 1 January 2013
[22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] Gupta, R., ‘Pharma retailing gains momentum in India’, Vol.2
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ZENITH 2012, ISSN 2231 5780 www.zenithresearch.org.in Company p.p127- 141,342-350. Delhi p.p472- 502. p.p45-50 of Wal-Mart, Indian Journal of Marketing, Jnuary,2008, pp 35-36 of Wal-Mart, Indian Journal of Marketing, Jnuary,2008, pp 35-36 University Press, New Delhi, 2006, pp 185-190 volume 3, Issue 21, pp
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