This paper explores the growth and dimensions of retailing industry in India. The retail sector is playing a phenomenal role throughout the world. In the changing scenario, the Indian retail industry has witnessed many changes and growth as one of largest industry offering 10-11% of GDP in the country and is providing wide employment opportunity and India has the highest shop density and is rated the fifth most attractive emerging retail market in the world, second in the global retail development index out of 30.due to globalization and liberalization, increased per capita income, changing lifestyle and increased product availability at lower prices, improved shopping standards, convenient shopping and display and blending of shopping with entertainment has increased the growth of retail market in India, and also it faces many problem like non- availability professional sales skill, availability of space in metro cities, low image and less attractive to investors, Rigorous labor laws control the growth of retail industry, even though it is expected that by 2016 modern retail industry in India will be worth US$ 175- 200 billion. It is becoming the flourishing industry in India.
Key words: Retail formats, Shopping, Emerging trends.
Retailing is considered as one of the most nimble industry, where the manager comes in contact with the customers and responds to their everyday needs. To be successful in the competitive arena, retailers must be able to convince the shoppers, that they can satisfy their needs better than their competitors. It is one of the largest industries in India, with an employment of around 8% and contributing to over 11% of the country's GDP. Retail industry in India is expected to rise by 25% yearly as it is being driven by strong income growth, changing lifestyles, and favorable demographic patterns. Shopping in India has witnessed a revolution with the change in the consumer buying behavior and the whole format of shopping also altering the growth of retail industry. In India there are multi- stored malls, huge shopping centers, and sprawling complexes which offer food, shopping, and entertainment all under the same roof.
The author is a Research Scholar in Management Science Department at Sathyabama University, Chennai