Growth and challenges of retail market in India

Abstract

The retail sector of India has come-forth as one of the most dynamic and second fastest growing industrial economy with several players entering the market. But all of them have not yet tasted success because of the heavy initial investment that are required to break even with other companies and compete with them. India is the country having the most unorganized retail market. India’s huge middle class base and its untapped retail industry are the key attraction for global retail giants planning to enter into newer markets. This paper will includes growth of retail sector in India, strategies, strength and opportunities of retail stores, retail format in India, recent trends and opportunities and challenges. It examines consumers’ awareness and brand consciousness among people across different socio-economic group in India and witnessing of significant growth in the urban and semi-urban retail markets.