Pest Analysis of Retail Industry in West Bengal

2. By performing some research over the internet, I found out some figures that could justify the attractive of the Indian market. For instance, globally more than one billion people lack access to safe drinking water and approximately 2.4 Billion people

There are within the city ten principal squares or market places, besides innumerable shops along the streets. .... On the nearer bank ... stand large stone warehouses provided for merchants who arrive from India and other parts with their goods and effects. They are thus situated conveniently close to the market squares. In each of these, three days in every week, from forty to fifty thousand persons come to these markets and supply them with every article that could be desired.

In the United States, their are about 1 million outlets (stores), and numerous amounts of online retailers that sell items to the public. The demand in this industry is primarily driven by spending and interest rates. Due to this fact economic health affects consumer confidence and spending. But overall there has been a consistent trend of sales in the sector as a whole. Overall in the United States, the industry has a combined revenue of about five trillion dollars. Revenue (in current trading dollars) for retail trade in the US is to forecasted to grow an annual compounded rate of five percent between 2015 and 2019. In addition, total United States retail sales increased 2.1 percent in the first ten months of 2015 compared to the same period in 2014.

As seen in the map in figure 4, the town facilitates the requirements such as grocery and convenient stores than boutiques or outlets. [Retail and hospitality are the main

As we all know, the retail industry is very crucial and is highly competitive. As this company

“Retail is the business of selling goods made by others to individual consumers. It is a huge industry, dominated by Wal-Mart, which touches every corner of the globe. Due to the decline in the global economy, the future of many retailers is uncertain as consumers begin to spend less. The retail industry is the last step in the process of getting products to customers efficiently, and should not be confused with the wholesale activities which precede it. The difference between the two is that wholesalers are companies that sell their products to businesses, whereas in retail, the goods are sold

The second thing to be mentioned here is the retail presence and the provision present for expansion in this area

•  India's $250 billion retail business is the eighth largest in the world and has the potential to grow 7 per cent by 2011. [McKinsey Report] For a company already dominating the world markets, this is an un-passable opportunity.

Economists use the retail sales data in their models to make predictions on a wide variety of economic issues. Again, because retails sales accounts for such a large proportion of GDP, it is used along with other factors as a way to estimate the direction of the quarterly and annual GDP numbers. Used in conjunction with data such as the consumer price index, it is also very relevant for inflation forecasts as the data can offer glimpses into the affects of rising or falling prices. This in turn is closely tied to predictions for the direction of future interest rates as potential additional government action. Finally the retail sales data can be used to estimate

The setting of this research is in India, where it would mainly focus on the rural and urban communities that have been affected by industrialization.

In the past few years, Indian Retail sector has seen tremendous growth in the organized segment. Major domestic players have stepped into the retail arena with long term, ambitious plans to expand their business across verticals, cities and formats.

This paper will provide the advantages and disadvantages of different facets that fall within the PEST analysis: political, economical, social, and technological aspects of India.

From the above table, it is inferred that 33% of the respondents have a family income of below Rs.5000 per month, 36% of them have a family income of Rs.5000 to 10000 while 31% earn above 10,000 per month but nobody crosses Rs. 15,000.

Retailing has been an important industry in any country. History would indicate that its form has changed with time as competition was no more a local phenomenon. Retailers started moving from being “neighbourhood stores” to expand their horizons nationally as well as internationally. Technology brought revolution in the retail industry with the advent of internet. Online retailers today have become a common part of everyone’s life. Mobile commerce too has started growing with the innovation of “App Stores” brought by Google and Apple. In this face of retailing, competitors have pushed themselves to gain more market share by trying

More than 80% of the retail industry in the country is concentrated in the large cities. A study reveals that among the more than 20 locations, for organized retail in India, Mumbai was found to be the most preferred location followed closely by Bengaluru in the second position.