Management of Retail Business

With the policy of economic liberalization, privatization and globalization adopted, there has been paradigm shifts in marketing sector across the globe. The Indian retail market has attracted much interest in recent times. The market is large and growing. The retail revolution could do wonders for Indian economy in terms of employment generation, raising economic productivity, and contribution to GDP. The Indian retail market has emerging in favour of organized retail market as its share is gradually increasing. The penetration of organized retail is also gradually increasing that shows vast potential of organized retail in the coming years. Indian retail industry is divided into organized and unorganized sector. Organized retailing refers to trading activities undertaken by licensed retailers. These include corporate back hypermarket on retail chunk, and also the private owned large retail business. Unorganized retailing refers to the traditional formats of low cost retailing. Indian retail sector is highly fragmented and its business being run by the unorganized retailers like the traditional family run stores and corner stores. The organized retail however, is at a very nascent stage though attempts are being made to increase its proportion. The Indian retail market offers significant opportunities for domestic and international retailers and property developers/ investors across a broad range of geographies and formats. Rapidly changing consumer behaviour, new market entrants and changing government policy will further transform the sector, and open up yet more opportunities. The organized retail sector is developing at breathtaking speed, and the insatiable demand for modern retail is far outpacing supply. Against this view point, present study has been carried out to examine the economics of retail sector.  The book deals with theoretical perspective,  organised retail business ,  consumer buying behaviour and  nature, type, origin, location of retail outlets. It also provides analysis of availability of technological facilities, procuring of goods and products, marketing and selling of goods. It is expected that the book will be highly useful in understanding the dynamics of retail business and formulating marketing strategies.