Retailing and Modern Retail Formats

6961 Words28 Pages
Emerging Trends in Modern Retail Formats & Customer Shopping Behavior in Indian Scenario: A Meta Analysis & Review “If at first the Idea is not absurd, then there is no hope for it.” -Albert Einstein Aditya P. Tripathi* Abstract The Indian retail sector is going through a transformation and this emerging market is witnessing a significant change in its growth and investment pattern. Both existing and new players are experimenting with new retail formats. Currently two popular formats hypermarkets and supermarkets are growing at a rapid pace. Apart from the brick –mortar formats, brick -click and click-click formats are also increasingly functional on the Indian retail landscape. Consumer dynamics in India is also changing and the…show more content…
However, a careful analysis of the town strata-wise population, population growth, migration trends of customer spending analysis reveals a very different picture of India As per the NCAER estimates,( Annexure 7& 8) the share of the 35 towns with a present population of greater than 1 million in India’s total population would grow much faster than their smaller counterparts, from 10.2 % today to reach 14.4 % by 2025. Simultaneously, the share of these towns in retail market would grow from 21 % today to 40 % by 2025. Within these top 35 towns, an estimated 70 to 80 % of retail trade would be in the organized sector. This is similar to the experience in China where in cities like Sanghai and Beijing, the organized sector accounts for 70 to 80 % of overall retails trade in certain categories. Retailers should therefore focus on top 37 towns in the next decade, as the opportunity in smaller towns and rural India would be smaller and more fragmented as compared to the larger towns. But again this is the one side of the coin. only. 2 Classification of India (Customers) on the basis of Research: Research Conducted by Future Group future group2 research classifies Indian Customers into three sets and provides a base to the retailers in segmenting the Indian market. The research shows that serving class consists of approximately 55% of the population, the major one & only 14% are in the upper middle class, regarded as consuming class. . 2.
Get Access