The Hindu Business Line : ‘Retail industry will see big changes’

Mumbai, Sept 26 Retail industry will see huge changes in the next few years, observed the international research conference on retail organised by the Navi Mumbai-based Dr D.Y. Patil University’s Department of Business Management.

“We expect the retail space to undergo constant change over the next four years as the existing players and the new entrants battle it out with each other,” said Mr Jay Gupta, Managing Director, The Loot.

“We expect the planned $25 billion investments to take the industry from the current $12 billion to $70 billion by 2011.

This will translate into the organised retail growing at a 42 per cent CAGR over the next five years on the back of eight per cent growth and increasing the share of modern retail to 15 per cent from 4.1 per cent currently,” he said.

“Favourable demographics, changing consumer preference, easy availability of credit, development of real estate, and large investments in improving supply chain efficiency will give a fillip to consumption and in turn to retail,” said Mr B.S. Nagesh, Managing Director, Shoppers Stop.

More than 100 research papers from various business establishments as well as universities were presented on e-retailing, retailing in financial services, retail shoppers’ behaviour, store and mall management and visual merchandising. Research papers were presented.

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