A
Panel Discussion on "Retailing in India- Issues, Challenges and
Prospects" was organised on 18th October 2014. The eminent panelists
included Mr. Kishore Chakraborti, Vice President, Consumer Insight and HFD
(Human Futures Development), Mr. Ranjan Paul, India Country Manager and
Director, Net Serv India Pvt. Ltd. and Mr. Pradeep Narula, Group President,
Wave Inc.
The eminent speakers highlighted the fact that India is the most attractive retail
destination today with abandon on opportunities, growing at 25% - 30% and is
estimated to be $ 470 billion. The organized retailing with 6% shares stands at
$ 26 billion. It is projected to reach US$ 1.3 trillion by 2018 with the
organized retail market estimated to grow at the compounded annual growth rate
of 40%. The discussion revolved around an irreversible change in consumer
buying habits and businesses related to serving these retailers. However,
unlike many other countries, India has its own unique character of size,
geographical spread, cultural diversity and multiplicity of formats being
introduced at quick succession. Retailers also face the challenge of
development infrastructure, on their own or in cooperation with the government.
Recent retail trends, opportunities for national
and international players was also discussed. The panel acknowledged the
deficiencies and problems related to backward and forward integration of supply
chain, setting up of physical retail stores, training and management of sales
force. The discussion was a rich learning experience
for the audience.
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