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Trends In Retail Sector Essay

790 Words4 Pages

Introduction
The retail sector is changing and will change even more in the next few years to come due to the changes in the shopping trends among the shoppers in the emerging and the developing countries like India. Earlier generation of shoppers viewed shopping as mere purchasing goods. But today’s shoppers view shopping as much more than that. The changes in the consumer’s tastes, the lifestyle, the consumption pattern, the buying behaviour, the increase in personal disposable income with both couple working, the credit availability, the increasing levels of literacy, changes in the family structure, the women’s role in the family, the growing influence of mass media (especially Television and the Internet) and the mobile technology has led to the growth of organized retailing in India.

The retail industry was previously dominated by the unorganized retail sector which consisted of a large number of small and unorganized retailers such as kirana shops, boutiques shops, owner-controlled general stores, chemists, footwear shops, apparel shops, paan and beedi (local betel leaf and tobacco) shops, hand-cart hawkers, pavement vendors, etc. But this face is gradually changing. A massive …show more content…

This shift towards organized retailing has given birth to the modern concept of retailing. Some of the domestic players in the Indian retail market are Pantaloon Retail Ltd (Future Group venture), Shoppers Stop Ltd, Spencer’s Retail (RPG Enterprises) and Lifestyle Retail (Landmark Group venture). Some of the foreign players who have entered the Indian market are Carrefour, Marks & Spencers in a joint venture with Reliance Retail and Germany based Metro Cash & Carry stores. The retail market in India is expected to grow at 7% in the next 10 yrs and reach a size of US$ 850 billion by 2020 (Federation of Indian Chambers of Commerce and

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