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5. The Revolution Ahead
The last few years have seen rapid transformation in many areas like: -
Scalable and profitable retail models are well established for most of the categories
Indian consumers are rapidly evolving and accepting modern formats overwhelmingly
Retail space is no more a constraint for growth
India is on the radar of global retailers
Suppliers / brands are willing to partner with retailers
Notwithstanding some stumbling blocks, no one can mistake the immense potential of the boom in the domestic retail sector.
Given the size and the purchasing power of the Indian consumer, the road ahead can only get smoother and it is only a matter of time before the domestic retail industry is on par with its western counterparts.
Concluded.
* Contributed by -
Harmesh Mehrotra & Manu Arora,
MBA (IB) 2004-2006,
School of International Business,
Indian Institute of Foreign Trade, New Delhi.
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