Rethinking Retail: Emerging Opportunities and Challenges in India

The Indian retail sector has witnessed a drastic change in the past two decades. The Indian retail is projected to reach 1 trillion by 2020 from 600 billion in 2015 i. e. double in the aforesaid period. The Indian retail sector is dominated by the unorganised format viz. small independent retailers where as the share of organised retail format is low. This paper has been prepared on the basis of the available literatures and explores the various aspects of the Indian retail sector. India is one of the most preferred destinations for the retailers across the world. The growth rate of the retail market is expected to be 12 per cent and the modern retail trade is expected to grow to 180 billion by 2020 from 60 billion in 2015. The traditional retail trade is projected to grow at 10 per cent per annum, whereas, the modern retail trade is expected to grow twice the pace of traditional retail trade. The researcher analyzes the present scenario of Indian retailing sector providing emphasis to the emerging opportunities and challenges for the retailers in India. The present research paper reveals the huge opportunities available to the retailers in India in the coming years by combating the weaknesses. Retailing is one of the most dynamic sectors and provides ample opportunities for both the domestic and international retailers. The paper is divided into four sections. The first section provides introduction to Indian retail sector, giving a background of the relevance and importance of the study. The methodology and literature review is presented in the following section, which provides relevant literatures and the methods used for the study. The third section deals with the results and discussions. The paper concludes by highlighting the major opportunities and challenges for the retailers in India, together with the strategies best suiting them in the present scenario.