The Organized And Unorganized Retail Potential Of India Essay

1.7 THE ORGANIZED AND UNORGANIZED RETAILING POTENTIAL IN INDIA: The position of importance occupied by the unorganized retailer may be gathered from the fact that from the numerical standpoint they account for 93% in 2012. While it is admitted that many of these units are small, and the actual turnover low, taken in the mass the results are of first class importance in the economy of the nation. Owing to their local character they are frequently in a better position to satisfy local demands; supervision is comparatively easy, and they are saved the costs and time expended by the larger departmental stores and kindred organizations by the elimination of routine procedure common to these. Then we have the undoubted advantage of the personal touch especially in a family business, where also decisions relating to general policy, buying etc. can be quickly made as occasions arise. Due to changes in the socio economic factors and changing market trends, the excellent opportunities are available for the growth of organized retailing in India. The growth of organized retailing in India in driven by the two main factors – rapid urbanization and benefits of conveniences which the consumers cannot resist. The retail pie is large enough for everyone to get a slice. Though organized retail will grow at much faster rate of 20% plus rate, but the unorganized retailing is the backbone of the trade, it will also see a very good growth in terms of value. Table -1 :Share of RetailShow MoreRelatedOrganized Retail Sector Essay1340 Words   |  6 PagesBefore the entry of organized retail sector in India, in unorganized retail sector, millions of people are forced to get their livelihood in the informal way as this was the sector where easy entry was possible with low capital and infrastructure needs and it acted as shelter for many unemployed. 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