Abstract


This paper explores the growth and dimensions of retailingindustry in India. The retail sector is playing a phenomenal role throughoutthe world. In the changing scenario, the Indian retail industry has witnessedmany changes and growth as one of largest industry offering 10-11% of GDP inthe country and is providing wide employment opportunity and India has thehighest shop density and is rated the fifth most attractive emerging retailmarket in the world, second in the global retail development index out of 30.dueto globalization and liberalization, increased per capita income, changinglifestyle and increased product availability at lower prices, improved shoppingstandards, convenient shopping and display and blending of shopping withentertainment has increased the growth of retail market in India, and also itfaces many problem like non- availability professional sales skill,availability of space in metro cities, low image and less attractive toinvestors, Rigorous labor laws control the growth of retail industry, eventhough it is expected that by 2016 modern retail industry in India will beworth US$ 175- 200 billion. It is becoming theflourishing industry in India.


Key words: Retail formats, Shopping, Emerging trends.


Introduction


Retailing is considered as one of the most nimble industry,where the manager comes in contact with the customers and responds to their everydayneeds. To be successful in the competitive arena, retailers must be able toconvince the shoppers, that they can satisfy their needs better than theircompetitors. It is one of the largest industries in India, with an employmentof around 8% and contributing to over 11% of the country's GDP. Retail industryin India is expected to rise by 25% yearly as it is being driven by strongincome growth, changing lifestyles, and favorable demographic patterns.Shopping in India has witnessed a revolution with the change in the consumerbuying behavior and the whole format of shopping also altering the growth ofretail industry. In India there are multi- stored malls, huge shopping centers,and sprawling complexes which offer food, shopping, and entertainment all underthe same roof.

 

 

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Theauthor is a Research Scholar in Management Science Department at SathyabamaUniversity, Chennai