LABEL Issue III
Shopping, shopping and more shopping! That’s what we all love to do but fail to
see that there is a big industry which facilitates our shopping experience,
encourages us to buy and gives us the best service.
Retail Industry is one of the pillars of Indian economy and accounts for 14 to 15
percent of its GDP. The Indian retail market is estimated to be US$ 450 billion and one of the top five
retail markets in the world by economic value. India is one of the fastest growing retail markets in the
world, with 1.2 billion people.
As of 2013, India's retailing industry was essentially owner manned small shops. In 2010, larger
format convenience stores and supermarkets accounted for about 4 percent of the industry, and these
were present only in large urban centres. India's retail and logistics industry employs about 40 million
Indians (3.3% of Indian population).
Talking about the different formats of retail; from supermarkets to local bazaars or big box to kirana
stores, India has seen growing technology and innovation in each of these formats. The origination of
retailing is from the Mom and Pop or the Kirana stores, then followed the concept of departmental
stores, supermarkets, hypermarkets, cash and carry, discount stores, specialty stores, convenience
stores, and other bigger models like big box. Since a decade there has been one fast growing market
for retailing that is the Internet popularly known as E-commerce.
Giving you the insights of the shopping world, we take you through the journey of retail from Flea
Markets and reason for its emergence to Amazon’s Prime Air and the criticism for its success or
failure. This month’s issue also features Miss Vidhi Sanghavi, student entrepreneur and owner of
Allette Fashion with her story in the retail industry. The article of Tesco and Tata gives the insights of
their joint venture which tells what we can look for in the future retail in India. Something that will
excite you is the logo quiz at the end with some quick news updates. Happy Shopping!
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