Imagination goes a long way in making of a reality. So it was just an imagination to build a big store, wherein every article, right from the FMCG products to clothes, from vegetables to household goods, from the tiniest pin to the massive home theatre is available under one roof.
Some would have termed this fantasy as absurd a couple of years back. But who would had thought that the retail boom would hit India in such a fashion that these descriptions would become a usual sight one day.One of the fastest growing industries (5% annual growth rate), retail is next in line to telecom to undergo huge transformation. For starters, we have Big Bazaar, Subhiksha, Vishal Mega Mart all pitching against each other for the cheapest prices offered. Claims of offering the most “sasta & accha” to “bachat ka adhikar” are nothing but ways of making the maximum of the market.
An upward swing in Indian consumer class disposable income (pegged at around 400 million) is a reason why India has become such a thriving market for retail. Add to that Mukesh Ambani’s dream of making reliance the number one retail chain. Reliance Fresh & Reliance Mobile are already mushrooming like weeds in the cities. And the big daddy of all, Wal-Mart, world’s largest retail chain has already set its eye on Indian soil. Unable to get a direct entry in Indian markets, Wal-Mart has joined hands with telecom-service provider Bharti to get a back-door entry in India.In all these jubilating times, the local traders are one such community who are feeling the maximum heat.