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The changing face of consumer behavior in response to organized retail markets in India

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  1. Introduction
  2. Objectives of the study
  3. Research methodology
  4. Industry profile
    1. An overview of retail sector
    2. Malls in India
  5. A study on consumer behavior
    1. Various stages in the buying process
    2. Marketing strategy for a retailer
  6. Data analysis
  7. Recommendation
  8. Questionnaire
  9. Bibliography
  10. Conclusion

The retail sector in the developing countries is witnessing a huge revamping exercise as traditional markets make way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Rated the fifth most attractive emerging retail market, India is being seen as a potential goldmine. A recent McKinsey study titled ?India's Retailing Comes of Age? has predicted a retail revolution in India. Store Retailing as the departmental store, which is a store or multi brand outlet, offering an array of products in various categories under one roof, trying to cater to not one or two but many segments of the society and Non store retailing as the direct selling, direct marketing, automatic vending. Most of these stores believe in creating not just a marketing activity with its customers, but rather favor relationship building with him so as to convert first time customers into a client.

A number of Indian and international retailers are entering this nascent, though dynamic market. Market liberalization and increasingly assertive consumers are sowing the seeds of a retail transformation that will bring bigger Indian and multinational players on to the scene. Buoyed by a strong increase in private consumption, retailing is one industry that is waiting to explode. Though retail may well be our next sunrise industry after Information Technology, capitalizing on the opportunities is still a formidable task for retailers. We may have made several forays into the world of international retailing, but success has only been moderate. At about 2 per cent of the total global retail market, we are still only scraping the surface.

[...] This high acceleration in sales through modern retail formats is expected to continue during the next few years with the rapid growth in numbers of such outlets in response to consumer demand and business potential. Lifestyle/Shopping Habits: Lifestyle in India is shifting from austerity to complete self-indulgence. This phenomenon can be attributed to various factors, for instance admiration of capitalism, dual in-home nuclear families, a gradual shift towards a credit based economy and aspirations of global lifestyle. The consumer today spends to achieve ?feel good? factor. [...]

[...] The other important participants in the Indian Retail sector are Bata, Big Bazaar, Pantaloons, Archies, Cafe Coffee Day, landmark, Khadims, Crossword, Reliance RETAIL SECTOR Different Forms of Retailing: Emergence of New Formats of Retailing in India Major Types of Retail Operations Hypermarkets: The hypermarket format is most suitable and appealing to the Indian consumer. The concept hypermarket is new to India. The largest retailers operating in this format are Pantaloon Retail with Big Bazaar, RPG Enterprises with Giant (now Spencer's) and Tata Trent's Star India Bazaar hypermarkets. [...]

[...] EVOLUTION OF INDIAN RETAIL CLASSIFYING INDIAN RETAIL CATEGORIES OF INDIAN RETAIL LARGE INDIAN RETAILERS Malls in India Over the last 2-3 years, the Indian consumer market has seen a significant growth in the number of modern-day shopping centers, popularly known as ?malls'. There is an increased demand for quality retail space from a varied segment of large-format retailers and brands, which include food and apparel chains, consumer durables and multiplex operators. Shopping-centre development has attracted real-estate developers and corporate houses across cities in India. [...]

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