Retail 2020 in India

Marketing Management

International Conference on "Innovative Management Practices"

India’s large and aspiring middle class of nearly 300 million individuals want products that are value-driven. The country’s 500 million youth have high disposable incomes that have resulted in a huge demand for products. The Indian retail sector accounts for over 20% of the country’s GDP. The Indian retail sector is expected to grow at a CAGR of approximately 20%. The Indian retail is evolving from the brick and mortar model to adopt technology for connecting with consumers. The Indian retail is undergoing a saga of sea changes with evolutions and revolutions from e-commerce, m-commerce to drones. This provides a great opportunity for the retailers to embrace technology and to go beyond the expectations of the consumers. Digital technology will be a game changer and it is for the retailers to understand these trends and leverage them. The present paper focuses on the current trends in retail along with the opportunities it creates for retailers to go that extra mile to provide customer experience.

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