The Effect of Modern Retail Agglomeration on Retailing In India

ABSTRACT We know that agglomeration of retail is related to development and has evolved historically all over the world including India. With the advent of organized or modern retail, layouts & formats have been changing dynamically over a period of time. On the other hand the Indian consumers most of whom are young, enjoying disposable income, an exposure through media, telecom & internet are changing their attitude. While the previous generation believed in simple living & glorified dispossession, the new generation aspires to a better standard of living & aspire for possession of worldly goods. Both the elements play a crucial role in retail and have an effect on determining the future of the industry. Today competitive market conditions are spread across retail areas & different retail formats. More explicitly this research study has resulted in a threefold contribution. Firstly, it has highlighted how the retail elements of agglomeration & multiple retail formats present in the country today have evolved and are growing; Secondly, it has studied & investigated the effects of changes in the retail formats, new types of agglomeration, shopping pattern and consumption trends in shopping behavior. Finally the study has evaluated the effects of intimidation of the above two elements of the shopping outcome, and proposed the way these retail elements can be guided by developing a strategy to reach the goals for the economy & industry. The bottom line is that Indian retail and consumer market is changing rapidly. With the effects of modern retail agglomeration, new formats and categories present an unprecedented retail business opportunity that needs validation by the Indian shopper