Retailing consists of these enterprise activities involved in the sale of goods and services to consumers for his or her personal, family, or household use. Retailing incorporates four factors customer orientation, coordinated effort, value-driven, and goal orientation. Retailing is the set of activities that market products or services to final customers for their own private or family use. It does this through organizing their availability on an enormously large scale and imparting them to clients on a relatively small scale. a retailer is the person or Agent or agency or organization or company who is instrumental in accomplishing the products or merchandise or offerings to the final user or ultimate customer.
INDIAN RETAIL industry
Indian retail industry is the largest enterprise in India, with an employment of around 8% and contributing to over 10% of the country’s GDP. The retail industry in India is expected to advance 25% every year being pushed by means of strong income growth, changing lifestyles, and favorable Demographic patterns.
it is expected that by 2016 modern retail enterprise in India might be well worth US$ 175- 200 billion. India retail enterprise is one of the fastest developing industries with sales anticipated in 2007 to amount US$ 320 billion and is growing at a rate of 5% every year. A further growth of 7-8% is predicted inside the industry of retail in India by growth in Consumerism in city regions, rising incomes, and a steep increase in rural intake. It has in addition been predicted that the retailing enterprise in India will account for US$ 21.5 billion by 2010 from the current size of us$ 7.5 billion.
shopping in India has witnessed a revolution with the change in the purchaser shopping behavior and the complete layout of buying also changing. the enterprise of retail in India which has become modern may be visible from the truth that there are multi-stored malls, huge shopping facilities, and sprawling complexes which provide food, shopping, and enjoyment all underneath the single roof. Indian retail enterprise is spreading itself most aggressively; as a result a splendid demand for actual property is being created. Indian retailers desired means of expansion is to spread to different areas and to increase the number of their stores in a city. it is anticipated that by 2010, India can also have 600 new shopping centers.
Indian retail enterprise is progressing well and for this to continue retailers, as well as the Indian authorities, will have to make a combined effort. Indian retailing industry has seen extraordinary growth in the last 5 years. organized retailing has subsequently emerged from the shadows of unorganized retailing and is contributing substantially to the increase of Indian retail sector. The “India Retail sector analysis report enables clients to investigate the possibilities and elements important to the success of the retail industry in India.
Indian retail enterprise is going through a transition segment. most of the retailing in our country is still within the unorganized sector. Unfold of the retails in US and India shows a huge gap between the 2 international locations. even though retailing in India is undergoing an exponential growth, the road ahead is full of challenges.