Posted By Dr. Vishesh Rawat
Armed with insights into the consumer’s buying behaviour, learnings from the past and a growth projection of 8-10%, 2009 is expected to be the defining period for the Indian retail industry.
“Though the Indian retail industry has learnt a lot over the past few years, 2009 will be the defining year for all as there will be opportunities galore,’’ said B S Nagesh, V-C, Shopper’s Stop, at the India Retail Forum.
The growth in retail is expected to scale up to 8-10% from the current 4%. Nagesh said retailers would see a tremendous growth and profit this year than they have in the past. “Indian consumers are the biggest scope for growth for the Indian retailers. However, it is up to the retailers to make the best of the opportunities available and those who do not latch on to them right now will miss the boat,’’ said Nagesh.
Kishore Biyani, CEO, Future Group—which plans to raise Rs 1,000 crore by selling some non-core retail assets in addition to launching an IPO for Future Ventures in March 2010—shared insights on value creation and emphasised the need to create stimulus to increase consumption.
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