Retail Industry
Industry Overview
The Indian retail industry has presently emerged as one of the most dynamic and fast paced industries as several players have started to enter the market. It accounts for over 10 per cent of the country’s gross domestic product (GDP) and around eight per cent of the employment in India. The country is today the fifth largest global destination in the world for retail.
Several corporate have planned to exploit the opportunities in the Indian retail industry, including Reliance Industries, Aditya Birla Group, Tata Group, Mahindra & Mahindra, Bharti etc. With the growth in the retail industry, the corresponding demand for real estate is also being created. Further, with the online medium of retail gaining more and more acceptance, there is a tremendous growth opportunity for retail companies, both domestic and international.
India’s retail market is expected to double to US$ 1 trillion by 2020 from current level of ~ US$ 600 billion driven by income growth, urbanization and attitudinal shifts. While the overall retail market will grow at 12 per cent per annum, modern trade will grow twice as fast at 20 per cent per annum, and traditional trade at 10 per cent.
The retail spending in the top seven Indian cities of India currently amounts to Rs 3.58 trillion (US$ 57.56 billion), with organized retail penetration at 19 per cent in 2014. It is expected that the online retail will be at par with the physical stores in five years
India is expected to become the world’s fastest growing e-commerce market on the back of robust investment activity in the sector and the rapid increase in internet users. It is expected that India’s e-commerce market will grow cross US$ 100 billion by 2020.
Right Step Consultancy as an emerging Manpower Consultants in India helps in retail recruitment across the industry vertical.
Our Retail Industry Recruitment Consultants help clients achieve substantial, positive, and sustainable impact in their performance by helping them in Retail recruitment of the best available talent.
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