Retailing is all about carrying on the set of activities that products and services in the market for their own personal or household use. The retailer acts as a person, agent, company and organization that are instrumental in reaching the goods or merchandise or services to the Ultimate or Final consumer.
Indian industry is greatly looking for strategy and plans that would make certain its survival and growth. Retailing is the most active and attractive sector in the last ten years. While the retailing industry has been prominent since ages in India, it is only in the recent past that has witnessed so much importance and attention in the market.
The emergence of retailing in India has more to do with the increased purchasing power of buyers, especially post-liberalization, increase in product variety and increase in economies of scale along with the aid of modern supply and distributions solution. Indian retailing today is at an interesting crossroads. The retail sales are at the highest point in history and new technologies are improving retail productivity. is coming down leading to the growth of internet connections.
There is various challenges face by the retail market in India as following -
Future of Retail Industry in India –
Over the last few years, Indian retail industry is one of the rapidly growing industries in India. Unlike the initial phase, the retail industry was not very organized however with the changes of tastes and preferences of the consumers. These days, the industry is getting more popular and getting organized as well. The retail industry in India is currently growing at a great pace and is expected to go up to US$ 833 billion by the year 2013.