The High Tailing Of Retailing Essay

1823 WordsAug 27, 20118 Pages
“IMPACT OF HYPER MALLS ON SMALL RETAILERS” Introduction The Indian retail industry is the fifth largest in the world. Comprising of organized and unorganized sectors, India retail industry is one of the fastest growing industries in India, especially over the last few years. Though initially, the retail industry in India was mostly unorganized, however with the change of tastes and preferences of the consumers, the industry is getting more popular these days and getting organized as well. With growing market demand, the industry is expected to grow at a pace of 25-30% annually. The India retail industry is expected to grow from Rs. 35,000 crore in 2004-05 to Rs. 109,000 crore by the year 2010. For the Indian Retail Industry, these are exciting times. An economic recession or two notwithstanding, the Indian retail industry has been growing at a fast clip. The current size of the overall retail market in India is estimated to be about USD 400 billion (Rs 18, 00,000 crores), and the industry has been clocking healthy two digit growth rates over the last many years. The future seems to be still brighter. It is expected that retail will contribute about 23% of the overall GDP within the next three years, and the market size estimates vary between USD 750 billion (Rs 35,00,000 crores) to a mind boggling USD 1.25 trillion (Rs 55,00,000 crores), depending upon which analyst you want to believe. While these figures are understandably minded boggling, these numbers are hiding a curious story which needs to be told. To put things in proper perspective, I would again present a set of figures about the biggest retailer in the world, Wal Mart. In fact, calling Wal Mart a ‘retailer’ would be a huge understatement – many people believe it is an industry in itself. Another fact – The number of employees in Wal Mart stores is around 1.3 million (13 lakhs), about the size of

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