RETAIL INDUSTRY: NEXT GROWTH ENGINE FOR INDIAN ECONOMY by Uday Khanna, Manish Kumar and Deependra Sharma
By: Global Vision Publishing HouseSingle Issue
Single Issue
- RETAIL INDUSTRY: NEXT GROWTH ENGINE FOR INDIAN ECONOMY by Uday Khanna, Manish Kumar and Deependra Sharma
- Price : 200.00
- Published on June 1, 2013
- Global Vision Publishing House
- Language - English
- Published na
About this issue
The paper illustrates the changes, trends and future prospects occurring in the retail industry. Retailing is becoming a buzzword in the current market scenario. It is undergoing a sea change with the emergence of new topologies like hypermarkets, supermarkets, superstores, malls, e-retailing and others. The gradual shift in the demographics of the Indian customers gives an opportunity to the retailers to showcase their energy and charisma. The ever increasing per capita income and the growing purchasing power give a wider room to the consumers in terms of availability, convenience, experience and choice. There is beeline of the retail chains who want to catch hold of the customer’s share of voice and mind, and the technology is playing an important role in bridging the gap between the customer expectation and the delivery mechanism of the retail chain. The article focuses on the scanning of the external environment for the retail industry and gives a picture of various threats and opportunities in the competitive retail market. The emergence of retail marketing is creating an ecosystem where the big as well as small players can complement each other and create opportunities for a major chunk of skilled labour that can greatly contribute to our booming economy. The debatable issue of survival of unorganised (kirana stores) sector has been resolved by the report of Icrier, the premier research body which suggests that due to supply crunch in the market, both the organised and unorganised players can work hand in hand to feed the ever demanding and impulsive customer to cope up with the demand-supply mismatch. The focus is on the entry of the big organised retail chains being owned by big Indian corporate houses like Reliance, Bharti and Aditya Birla group on one hand and the big giants like Wal-Mart, Tesco and Carrefour on the other hand, who has shown keen interest in the strong unorganised sector being dominated by local kiranawala and baniyawala.
About RETAIL INDUSTRY: NEXT GROWTH ENGINE FOR INDIAN ECONOMY by Uday Khanna, Manish Kumar and Deependra Sharma
Global Journal of Business Management Vol. 2 No. 2, December 2008