Academy of Marketing Studies Journal (Print ISSN: 1095-6298; Online ISSN: 1528-2678)


Success of Traditional Retail Markets In India: A Way Forward

Author(s): Hari Govind Mishra S and Surabhi Koul

Economic globalization in India has brought tremendous changes in the values, lifestyles, and culture. One important contributor to this change is Indian Retail Industry with a projection to reach USD1.3 trillion from USD672 billion in 2016. Technology has become a transmitter of global values and lifestyles. According to Dholakia, Dholakia and Chattopadhyay, 2012 Indian retail industry is still in transition. We neither have any pure modern consumers nor outlets, which means even the so called purely modern stores allow pinch of traditional touch. The same can be seen with the consumers. The small segment of purely urban shoppers stays in Mumbai, who have easy access to modern retail facilities, split their shopping between modern and traditional stores. This is clearly evident with the fact that, the organized retail industry is worth about USD 60 billion, accounting for around 9% of the business, while the unorganized retail market accounts for the rest. (IBEF, June 2017). Indian consumers still love the traditional market places and these are the one stop solutions when it comes to low prices. The aim of the

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