A Study on Upcoming Retail Hurricane in India

The organized retail market growth in India is very low when compared to other countries. Modern retailing is not a threat in India as most of the customers have not stopped visiting kirana stores. Modern retailers are successful in attracting the customers with discounts, loyalty programmes, benefits, and ambiance and have been acting as a point of sale of different products. Because of this customer visit to the kirana stores has reduced. 14-15% of GDP is contributed by retail sector in India. The retail sector, which is estimated to be US $450 billion, is one of the top five retail markets in the world. Many factors drive the retail industry in India - increase inthe consumption level, rising household income, rising urban population, increased occupancy of retail space, change in the customer behavior, government support and positive signals from the Small Medium Enterprise (SME) sector. This research paper attempts to study the factors drivingthe retail industry, issues in the retail sector, and to study why India as a destination. The present paper is descriptive in nature. During the course of research some issues and gaps have been identified, which need to be resolved at the earliest for the development of the retail sector in India