Changing Retail Trends: Emerging Opportunities and Challenges of Indian Retail Industry
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 1
Abstract
The Indian Retail industry is currently growing at a great pace and is expected to go up to US$ 833 billion by the year 2015. It is further expected to reach US$ 1.3 trillion by the year 2018 at a CAGR of 10%. As the country India has got a high growth rate where the consumer spending has also gone up and is also expected to go up further in the future by 2020. The Indian retail sector is highly fragmented and the unorganized sector has around 13 million retail outlets that account for around 95-96% of the total Indian retail industry. However, on moving forward, the organized sector’s growth potential will increase due to globalizations, high economic growth, and changing lifestyle. By the year 2015, the organized sector is also expected to grow at a CAGR of 40%. India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort. This Conceptual Paper completely focuses on the fact findings related to emerging challenges and opportunities in Indian Retail Industry.
Authors and Affiliations
Dr. V. P. Sriram, Dr. Suresh Chandra Padhy, Dr. Sumit Agarwal, Mr. Niranjan Diwan
Keywords
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