The Growth of Organized Retailing through Shopping Malls in India

The retail sector in India is witnessing a huge revamping exercise as traditional markets make way for next formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Western-styles malls have begun appearing in metros and second-running cities alike introducing the Indian consumer to a shopping experience like never before. India’s vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. The structure of retailing is developing rapidly with shopping malls becoming increasingly common in large cities, and development plans being projected to 500 shopping malls by 2015. The Industry is rated as the fifth most attractive emerging retail market, India is being seen as a potential goldmine. It has been ranked second in a global retail development index of 30 developing countries drawn up by AT Kearney. The list was developed as a response to request from retail chains facing saturated demand in most western markets.