what is the scope in retail business in india ?

Question

how it will change the life of ordinary man ?

what will happen to numerous small shops in every locality in india ?

Answer 1

Small retail shops become unprofitable

numerous low paying jobs

huge potential for industry

Answer 2

retail business is very important in the economy. Through the idea of scope if you do with very perfect planning than it goes very high because it is chain between wholeseller/producer to costomer.

Answer 3

retail business emerge into service sector

Answer 4

Depends upon how good you are in buisness

Answer 5

India's retail sector is wearing new clothes and with a three-year compounded annual growth rate of 46.64 per cent, retail is the fastest growing sector in the Indian economy. Traditional markets are making way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Western-style malls have begun appearing in metros and second-rung cities alike, introducing the Indian consumer to an unparalleled shopping experience.

Retail sector: on an upward curve

India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. While organised retail in India is only two per cent of the total US$ 215 billion retail industry, it is expected to grow 25 per cent annually, driven by changing lifestyles, strong income growth and favourable demographic patterns.

KSA-Technopak, a retail consulting and research agency, predicts that by 2010, organised retailing in India will cross the US$ 21.5-billion mark from the current size of US$ 7.5 billion.

Retail space: up for grabs

By 2007, an estimated 50 million square feet of quality retail space will be available across India. This is in sharp contrast to the situation a decade ago. Then, there was not one shopping mall in India. Today, in Delhi, Mumbai and their suburbs, there are about 100 malls. Of the 700 new malls coming up all over India, 40 per cent are concentrated in the smaller cities. Organised retailing in small-town India is growing at a staggering 50-60 per cent a year compared to 35-40 per cent in the large cities.

A push for branded retail

India's branded retail sector, estimated at about US$ 6 billion, makes up only three per cent of the total market, but is forecast to grow at 25-30 per cent a year over the next four years, with plush department stores and malls springing up across the country.

Food retail

Food dominates the shopping basket in India. The US$ 6.1 billion Indian foods industry, which forms 44 per cent of the entire FMCG sales, is growing at 9 per cent and has set the growth agenda for modern trade formats. Since nearly 60 per cent of the average Indian grocery basket comprises non-branded items, the branded food industry is homing in on converting Indian consumers to branded food.

The mobile revolution

The retail market for mobile phones - handset, airtime and accessories - is already a US$ 16.7 billion business, growing at over 20 per cent per year. In comparison, the consumer electronics and appliance market looks paltry, at just US$ 5.6 billion, with growth rate just half of the mobile market, and that too in a good year.

Kids retailing: no child's play

Kids retailing is growing by leaps and bounds in India and those in the industry say it is likely to see 30-35 per cent growth per annum. From clothes to stationary, sportswear, outerwear, tailored clothing, eyewear, watches, fragrance, footwear and accessories, the list is endless. Apparel, however, remains the key revenue driver accounting for almost 80 per cent of total sales. According to industry insiders, “The total apparel market in India for kids is around US$ 2.9 billion, out of which about US$ 668.2 – 780.5 million is branded apparel.”

The retail road ahead

The Indian retail market is estimated at US$ 350 billion. But organised retail is estimated at only US$ 8 billion. However, the opportunity is huge—by 2010, organised retail is expected to grow to US$ 22 billion. With the growth of organised retailing estimated at 40 per cent (CAGR) over the next few years, Indian retailing is clearly at a tipping point. India is currently the ninth largest retail market in the world. And it is names of small towns like Dehradun, Vijayawada, Lucknow and Nasik that will power India up the rankings soon.