India is fastest growing destination for retail in the world. As per the international management expert AT Kearney, the country has appeared as the leader in the retails industry. The franchise India is anticipated to grow rapidly in the coming few years.
However, the actual face of the franchise India is changing. Today country is going through retail boom. Several alterations has occurred in the retail front of India that includes growing availability in the international brands, rising number of hypermarkets and malls as well as easy available space for retails. As the Indian government is planning to welcome FDA in the country, the entry of the foreign retailers will becomes easy in India. India has really walked a long distance in rising from a small “Kirana Store” to the “mall country”. The importance has shifted from affordable price to efficiency, ambience and convenience.
The key factors providing strength to such change are the rise in the disposable income of citizens of the country, increased global exposure, improving lifestyles and awareness among the consumers. The population of the middle class and youth is very large in India that contributes a lot to the Indian retail industry. The main potential groups are the middle class people, whereas the youth perceived as the trend setters as well as decision makers. The number of tourist coming to India is also increasing that also contributes to the boom in the retail industry.
The two main retail sector of India are the grocery and food that offers most promising breaks. Other than this, other sectors in which the scope of rising franchise India are apparel, consumer durables and jewellery. The retailers of India are also trying their best to make niche for themselves in sectors like gifts, music and books.
The Indian retail industry is passing through the period of the golden sunshine.
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