India’s largest industry is the retail market, which accounts for over 10% of the GDP of the country and 8% of the employment. Retail market has evolved from the traditional family owned shops to large retail chains and supermarkets. It has shown speedy growth and has attracted foreign players to invest in the India retail market. This foreign investment was boosted by the market research reports on the Indian retail industry. Since the initial investment required is high and the break even is difficult to achieve, many player have not done a successful business as of now. Yet the retail industry is a promising sector. The retail market is growing at a fast rate and the government policies are also becoming more favorable to promote development in the sector. Retail market research reports; made by market research companies; provide an overview of these policies and issues. The EIU (Economist Intelligence Unit) estimated in 2005, that the Indian retail market would grow to $608.9 Billion till 2009. Its market research report stated, that India has over five million retail outlets at present, of which 96% are even smaller than 500 sq. ft. The retail market of the country is growing at a speedy rate, as is evident from the growing number of retail chains and malls, being opened all over in the country. Plans have been made to open another 150 shopping malls by 2008. Organized training is growing at a rapid rate. This sector will profit from the rising wealth, greater openness to international influences and industry deregulation. However organized retailers account for 3% of the total retail sales in India. It is although expected that this share will rise up to 20% by 2010, seeing the current trends, as per the market research reports. As per the market research reports, the retail sector has bright future prospects in the food and grocery sector. The modern retailing sector; which includes supermarkets and huge shops; accounts for only 1% of the total food-retailing sector. Traditional kiosks and small shops comprise of the rest of the food retail sector. The Indian market for food retailing is moving speedily towards adopting the concept of supermarkets and malls. This concept will be suitable primary for the higher income groups, as they demand luxury shopping. Besides the retail sector, India can also witness growth in sectors like IT, consumer durables, Health, beauty and home development. All these details are included in the reports compiled by market research companies, which include the qualitative and quantitative market research concepts in it. The growth and development in the retail sector will primarily depend on the consumer spending, requirement and preferences. To avail more information on retail market research reports log on to the website: http://www.rncos.com. RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.
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