The Retail sector in India has been hot for last 18 months or so…The huge Indian middle class consumer are now the blue eyed segment for biggies like Bharti, Wal-Mart, Reliance and loads of others, in race to capture their pie in Indian Retail Market.
The modern retail Industry in BRICs (Brazil, Russia, India and China) is seen as having the maximum potential on growth worldwide. It grew by almost 30% in India and 13% in China and Russia last year. As the developed markets are becoming mature, retailers are eyeing new growth opportunities in upcoming economies.
A.T Kearney, in their report, “Growth Opportunities for Global Retailers” have ranked India at No.1 position consecutively for the second year. The report sees Indian retail Industry to grow exponentially over next few years. The ranking has been done for 30 upcoming global economies. It is based on 4 broad categories namely - Country Risk, Market Attractiveness, Market Saturation and Time pressure for a new entrant to start retail business.
India, as per the report, ranks highly on Market saturation and time pressure as compared to China and Russia. The aggregated score for India stands at 92, followed by Russia at 89 and China with 86.
Here is the snapshot for all the 30 countries as provided by A.T.Kearney report.
In another aspect to this retail boom, India is also becoming a centre of gravity for retail backend IT support for global giants.
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Retail sector in India now attracts the middle class people too. The offerings given by the retail stores makes people to visit again and again.It generates more employment opportunities too.
It’s really nice to hear that India has been ranked no:1 in retail sector. It generates more employment oppurtunities for the youth. If the big gaints like walmart, reliance and bharathi colloborate with the small retailers and co-operate, they will also get oppurtunity to grow and the services delivered also will be world class.
Its really a great news…
this is the great news for the India the position of 1st from the 3rd . this is the great achivement and scope forb retail sector
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