Impact of Retail Trend on Consumers
Prakash M. Salins
Western International University
Mr.Sanjay Kehar
MKT-415: Buyer Behavior-Issues and Analysis
August 3rd, 2007
Definition:
Retail means selling good directly to the consumer. It can also be defined as the commodities available to the customer at affordable and competitive prices.
Types of Retailing:
1. Market:It is a place where goods and commodities are made available for purchase by consumers.
2. Self Service: These are areas where the commodity which the consumer wants to purchase is put in front of him/her and they could help themselves. E.g.: gas stations and buffet restaurants
3.Online-Shopping:This is also known as e-commerce. Its the latest form of retailing where customers select the product they want and order for it. It is used for buying, selling, marketing and servicing of products or services.
The retail industry is one of the biggest industry in India which covers nearly 10 percent of the country’s GDP and eight percent of the employment. It has proved to be a very fast growing industry and has had a lot of new competitors in the recent years. The Government policies have become favorable and also with the development of technology, the retail industry has been able to improve their quality of business. The retail industries in India have been able to provide consumers with value for money, good shopping experience, a huge variety ,good quality ,discounts ,special offers and advanced systems which have been very beneficial and convenient for the consumer.
Due to the global exposure through media and internet ,the local consumers have been able to know about the new domestic and foreign goods. Due to the retail industry, con ...