Indian Retail Industry is going through a transformation

Retail is the largest industry in India and the retail market increases every year which at present is estimated $300 billion.The global markets are entering here which is further enriching the scope of the industry in country.The industry has an account of 8% of employment.The international markets which are stepping in the Indian market like Wal-mart,the world’s largest retailer,will surely leave an immense impact on the entire retailing industry.

Wal-mart is participating in the country in collaboration with Bharti Enterprises to look into more upcoming opportunities and expand the existing business in India.The biggest competition and the most affected out of all the organizations with this collaboration would be the Reliance Retail,the retail sector of the Reliance,who already intend to create 10,000 stores by 2010.

A wide range of supermarkets, hypermarkets have already been established in different cities of the country suiting the need and comfort of the people.Several malls have opened up which has a complete package of shopping complex,multiplexes,entertainment segments,food joints under one roof alone.Such places and stores are most desired by the consumer as they are the most beneficial

At the same time,our country with humongous population is largely dependent on the small stores which includes local markets,shopkeepers,local vendors etc. for there day to day need but the fact cannot be denied that sooner or later, there is deep possibility of these vendors and shopkeepers to face crisis and unemployment with the existence of such big retail stores.

These stores are more appreciated by a consumer because of various reasons such as low cost,there is less margin in the cost which eventually give them a massive profit,whereas the local markets keep a greater margin.Secondly,the quantity and cleanliness of these stores is far much better than that of roadside vendors.Another reason can be,the duplicate products can be refrained which are maximum available at the shopkeepers in order to make a sound profit.

The existence of such retail stores have wholly changed the scenario of the shopping system as it has made things easier and convenient for the people because the consumer does not have to hop from one place to another for different things. It has brought a drastic change in the consumer buying behavior welcoming the revolution in the shopping style.

With such a response,the reatil industry in India certainly would rise further.The boom in the field makes India,the strongest contender in the retail industry all across the world.