Submitted to: - Submitted by:-
Prof. Srinivasan Jigar Mehta
Roll no:-21
PGDM-RM.
I.T. in Retail
Retail in India
Organized retailing is a decade old industry in India with an overall market share of 3 percent. Currently, the estimated total sales of organized retailers are Rs.175 billion. The sector has witnessed robust growth during the last two years which could mainly be attributed to the establishment of international quality formats modified to suit the Indian purchase behavior; entry of several domestic and international players; development of retail-specific properties; improvement in retail processes and turnaround in operations of some existing retailers.
This growth in organized retail is being driven by a number of structural, social, and demographic and macroeconomic factors as well. The increasing globalization of the Indian economy has led to growing exposure to foreign markets resulting in increasing demand for international shopping experience in India.
Availability of credit cards, increased ?lifestyle spending' and higher mobility due to increase in car / scooter owning families for whom shopping also becomes a family outing, have also helped in driving the growth of organized retailing in India.
The Indian retailing industry has been witnessing some exciting developments.
Some of such key developments are as follows:
? ?Emergence of Region-Specific Formats: With organized retail penetrating beyond metros, the retail industry has witnessed the emergence of stores with different sizes and formats. To illustrate, within the departmental st ...