India is one of the countries in the world that has the most
unorganized retail market. This is because most retailers set-up their shops in
the front of their houses while running their retail business. Almostall retailershave
aboutfive hundred square feet of shopping space to function in. It has been
estimated that organized retailing in India is expected to touch 50,000 crore
in the year 2015-16 by Global retail consultants. The Indian retail sector is
estimated at around 1 million crore.The organized sector only accounts for
about 2 per cent of the retail market. This indicates a huge potential for the market
to grow in organized retail.
The Indian consumer’s income and purchasing power is growing and products like clothes, cosmetics, shoes, food and jewellery are slowly becoming lifestyle orientedwhich is widely accepted by the urban Indian. In order to help build the brand process Indian retailers need to diversify and introduce new changes. Instead of retailers selling brands, emphasis is being given on retail as a brand. By reinforcing their position in the market to communicate quality and value for money,Indian retailers can build their own stores as brands in preparation to face fierce competition.
The retail scene in India is booming due to a number of large corporate houses making their foray into this area. Organized retailers are attacking every retail category.Too many retailers are crowding the market in a very short period of time without having a well thought out strategy for their competitors.
The concept of shopping has changes in terms of the behaviour of the consumer when it comes to buying. This is ushering a revolution in shopping. Shopping centres, multi-storied malls and huge complexes are offering shopping, entertainment and food under one roof. The Indian retail sector is at a point where the growth of organized retail and consumption by the population taking a higher growth trajectory. The population is witnessing a change in its demographics. Emerging opportunities in the services sector are proving to play an important role in organized retail sector.
The Indian consumer’s income and purchasing power is growing and products like clothes, cosmetics, shoes, food and jewellery are slowly becoming lifestyle orientedwhich is widely accepted by the urban Indian. In order to help build the brand process Indian retailers need to diversify and introduce new changes. Instead of retailers selling brands, emphasis is being given on retail as a brand. By reinforcing their position in the market to communicate quality and value for money,Indian retailers can build their own stores as brands in preparation to face fierce competition.
The retail scene in India is booming due to a number of large corporate houses making their foray into this area. Organized retailers are attacking every retail category.Too many retailers are crowding the market in a very short period of time without having a well thought out strategy for their competitors.
The concept of shopping has changes in terms of the behaviour of the consumer when it comes to buying. This is ushering a revolution in shopping. Shopping centres, multi-storied malls and huge complexes are offering shopping, entertainment and food under one roof. The Indian retail sector is at a point where the growth of organized retail and consumption by the population taking a higher growth trajectory. The population is witnessing a change in its demographics. Emerging opportunities in the services sector are proving to play an important role in organized retail sector.
FDDI, has established a school for retail education. The courses at
FDDI give a real understanding of the retail sector and prepares students for a
great career in this sector.
No comments:
Post a Comment