View all articles by Subodh Gupta
India Intercultural Trainer & Business Consultant
India is considered as one of the most attractive retail market in the world now, which at the moment is dominated by unorganized domestic players.
Organised retail, which accounts for $12.4 billion only in year 2006 which is 4.6 % of the $ 270 billion Indian retail sector, is expected to grow at 37 % in 2007 and 42 % in 2008. 42
Slowing growth and decreasing profits in the foreign domestic market is pushing foreign retailers to Indian market, which promises immense market potential as number looks impressive.
However, I believe without proper understanding the Indian retail gold mine, rushing to the Indian market can be the prime reason for failure.
Indian retail market is characterised by vast differences in purchase power and footfalls. Whatever level the income of people in India rises, I believe majority of Indian consumers still want value for their money and also quite price conscious.
Let’s see the various pitfalls in Indian retail sector.There are many area which acts as potential hurdles in expanding organized retail market in India. For example....