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MARKETING MANAGEMENT - Retailers And Wholesalers

Indian Scenario - Retailers And Wholesalers

   Posted On :  19.06.2018 12:47 am

Retailing is the second largest industry in India next only to agriculture and contributes to about 11 percent of the GDP; it is likely that India will have about 220 shopping malls by 2006 up from 25 in 2003.

Indian Scenario

Retailing is the second largest industry in India next only to agriculture and contributes to about 11 percent of the GDP; it is likely that India will have about 220 shopping malls by 2006 up from 25 in 2003. The sector provides employment for 8% of the total workforce of the country. The sector is highly fragmented and is dominated by large traditional formats. Even though the total retail businesses are estimated at $180 billion only 2 percent comes from the organized sector. According to one of the sources, the size of the organized retail was estimated at about Rs 16,000 crores in 2002-03. India has the largest retail density in the world with 12 million retail outlets for a population of over 1000 million.
 
In the organized retail there are few big names like RPG’s, viveks, Rahejas etc who dominate the market to a greater extent. From what was once considered a conservative and a traditional society India has emerged as the hot pot for every organization that even firms like Reliance, Mahindra’s are planning to foray into retail.

According to the study conducted by the Euroconsumer study there has been an increase in the disposable income of the Indian middle class, apart from this the Indian middle and high income group is increasing by 10% annually over the last decade. Moreover the falling interest rates, easier consumer credits, varieties and different price points have all been credited to the booming retail market. The Urban customers have started to experience the western lifestyle, and they have become more demanding than ever before. Scenario has changed from what once was a forced way of buying has not led to the age where shopping is considered as an experience. The consumers are becoming highly knowledgeable and this in turn has had a positive effect on the consumers. 
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