Abstract
Indian retailing is undergoing a process of evolution
and is poised to undergo rapid transformation. The
Indian retail industry which was traditionally
dominated by small by small mom & pop stores i.e
kirana stores, seems to have finally come to an age.
At present India is on the threshold of a great era in
retailing which has brought many changes and also
opened door for many domestic as well as foreign
players. Historically rural reach was through weekly
markets i.e haats, jhatras, melas, village fairs, which
is also the source of entertainment. Another
traditional retail reach is through convenience stores
also known as mom & pop stores, is a key element
in the retail in India due to consumers unwillingness
to go long distance for purchasing daily needs. The
Indian retail, which was dominated by small
entrepreneurs, i.e family members kirana stores,
seems to have finally come to age. The traditional
grocery stores have EMBRACED the modern retail
formats. Modern formats such a discount stores,
hyper market, supermarket, department stores,
specialty stores, convenience stores, warehouse
retailers have emerged. The emergence of new
formats and the evolution of modern retail in India
have attracted the attention of the aspiring class. The
young consumers are looking for shopping experience
and now value convenience and choice on a par with
getting value for their money. Many retailers are
attempting to serve the latent needs of the "new"
aspiring Indian consumers. Retailing is an important
segment of any economy, both in relation to GDP
contribution and share in total employment. The
opportunities and scope for more employment in
retailing sector cant be ACCENTUATED. Sales
from large format stores are to be expanding at
growth rates ranging from 24 percent to 49 percent
per year during 2003-08 according to a latest report
of Euromonitor International, a leading provider of
global consumer - market intelligence. Currently,
retailing is a new concept for the Indian market and
is largely disorganized. Only 3 percent of total retailing
sector comes under organized retailing. As per the
Technopak consultants the retail industry is expected
to sink all of $ 36 billion into various formats by 2013,
this would result in an industry with an estimated total
of $ 100 billion by 2014. The retail sector is highly
fragmented and has the highest retail density in the
world. This paper will discuss the challenges like FDI
in retail sector, real estate, manpower planning, supply
chain in modern retailing in India.
Key words: FDI in retail, real estate, manpower
planning, supply chain.
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