India Retail Market Top Key Players – Reliance Retail, V Mart, D Mart, Pantaloons, Future Lifestyles and Fashions, Shoppers Stop, Future Retail, Trent Retail
With the advancement in technology, internet, engineering, many retailers are adopting and using the internet of things, big data technology, RFID, and other technical software and programs to enhance customer experience, customer engagement through which retailers are improving efficiency.
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INDIA RETAIL MARKET DYNAMICS
India’s retail operational industry, organized and unorganized in combination, employs about 40 million Indians. The typical Indian retail shops are exceedingly small. Over 14 million outlets operate in the country and only 4% of them are larger than 500 sq. ft (46 m 2 ) in size. India has about 11 shop outlets for every 1000 people.
The three top categories of products for which retail sales are the highest includes grocery, apparel, and furniture. Of these categories, Grocery retailing has been placed as the leading category because of its crucial position in satisfying one of the basic needs of any human being i.e. food.
INDIA RETAILMARKET SEGMENTATION
The Indian Market of Retail can be segmented into following categories for further analysis.
By Product Application
• Food and Beverages
• Personal and Household
• Apparel and Footwear
• Toys and Products
• Electronic and Household
• Other product categories
By Technology Integration Type
• Voice Search Based
• In store digital display based
• Social shopping based
• Geo location services based
• Visual search based
• Smart fitting based
• AI and ML based
• IOT Based
• Big Data based
By Distribution Channel Type
• Supermarket / Hypermarkets
• Speciality Stores
• Convenience Stores
• Online Stores
• Other Distribution Channels
By Regional Classification
• Western Region – India
• Eastern Region – India
• Southern Region – India
• Northern Region – India
RECENT MARKET TECHNOLOGICAL TRENDS IN RETAIL SEGMENT
The recent integration of the technological advancements of artificial intelligence and other components alongside the visual technologies of motion and sensors has increased the retailing segment in recent years, with better presence and virtual reality-based experience being created for the customers. Thereby it can be seen that the various technological inclusions within the industry has increased its reach and is trying to boom the industry through its viability of approach.
The Internet of Things (IoT) is a network of literally billions of physical devices communicating with each other and sharing data. IoT has massive potential for the retail industry, providing a way to create even more engaging and innovative shopping experiences.
Modern retailing has entered India in the form of sprawling malls and huge complexes offering shopping, entertainment, leisure to the consumer as the retailers experiment with a variety of formats, from discount stores to supermarkets to hypermarkets to specialty chains.
The Retail industry competition can be seen amongst the top players who are involved in placing the most possible retail stores across the country for better access and presence. Tata has been integrating itself into the market by provisioning low-cost requirements by establishing a hypermarket business with Star India Bazaar. It offers customers a variety of products in categories, such as staple foods, fruits, vegetables, consumer electronics, health, and beauty products and many more at affordable prices.
Future Lifestyles and Fashions
The Raymond group
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