Indian retail sector: Enhancing competitiveness
Sandeep Bansal
Abstract
Sandeep Bansal
Abstract
The word ‘Retailing’ refers to any activity that involves the direct sale to an individual customer or end user. Retailing has been the most active and attractive sector of the last decade. While the retailing industry itself has been present throughout the history in our country, it is only the recent past that has witnessed so much dynamism. Competitiveness refers to – “The ability and willingness to compete by implementing innovative strategies”. The approach of the research is exploratory in nature. Data was collected from different sources like articles, newspapers and various sources of government publication. The present paper is an attempt to find out the various factors which are responsible to enhance the competitiveness of Indian organized retail sector. The study also highlights the present position and scope of retail sector in India. The study found that to enhance the competitiveness in retail sector one should manage real estate cost, train human resources, do SWOT Analysis, and make appropriate pricing policy to satisfying the customer needs.
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The word ‘Retailing’ refers to any activity that involves the direct sale to an individual customer or end user. Retailing has been the most active and attractive sector of the last decade. While the retailing industry itself has been present throughout the history in our country, it is only the recent past that has witnessed so much dynamism. Competitiveness refers to – “The ability and willingness to compete by implementing innovative strategies”. The approach of the research is exploratory in nature. Data was collected from different sources like articles, newspapers and various sources of government publication. The present paper is an attempt to find out the various factors which are responsible to enhance the competitiveness of Indian organized retail sector. The study also highlights the present position and scope of retail sector in India. The study found that to enhance the competitiveness in retail sector one should manage real estate cost, train human resources, do SWOT Analysis, and make appropriate pricing policy to satisfying the customer needs.
Key concepts: Dynamism, SWOT analysis, Scope (computer science), Business, Marketing, Newspaper, Government (linguistics), Position (finance)