THE LATEST TRENDS IN ORGANIZED RETAILING IN INDIA

Abstract

As we all know that Information Technology is playing a major role for India’s current 9.2 GDP growth. Organized retailing in India is one more example for its open economy. India has been rated as one of the most attractive emerging markets for retail for last two years. It directly impacts only a small minority of Indian population while organized retail affects every single Indian and every sector of Indian society. Organized retailing is growing about 18-20 per cent per annum and new formats are emerging to deliver value to the consumer. The paper throws light on the slow evolution of retail market over the years in India and its contribution for economic growth. Mall is the latest format in the organized retailing; a significant development has occurred in last couple of years due to change in consumer profile and spending Behaviour. In 2003 there were 25 operational malls in the country and the number is forecasted to rise to a 220 by 2006 and 600 by 2010. The likely positive impact of this revolution in different sectors is enumerated. The central idea of this paper is on how this retail boom would help the markets in India.