retail sector - Retail Industry History The retail industry...

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Retail Industry History The retail industry emerged in the US in the eighteenth century; it was restricted only to general stores. Specialty stores were developed only in those areas that had a population of above 5,000. Emergence of retail industry in India Traditionally retailing in India can be traced to The emergence of the neighborhood ‘Kirana’ stores catering to the convenience of the local consumers. Era of government support for rural retail: Indigenous franchise model of Textiles sector with companies like Bombay Dyeing, Raymond's, S Kumar's and Grasim first saw the emergence of retail chains. Later Titan successfully created an organized retailing concept and established a series of showrooms for its premium watches. The latter half of the 1990s saw a fresh wave of entrants with a shift from Manufactures to Pure Retailers. For e.g. Food World, Subhiksha and Nilgiris in food and FMCG; Planet M and Music World in music; Crossword and Fountainhead in books. Emergence of hyper and super markets trying to provide customer with 3 V’s - Value, Variety and Volume. The infrastructure of the retail sector is evolving radically. Retail Sector is the most booming sector in the Indian economy. Some of the biggest players of the world are going to enter into the industry soon like Wal-Mart. It is on the threshold of a big revolution after the IT (information technology) sector. The Indian retail market, which is the fifth largest retail destination globally, has been ranked the second most attractive emerging market for investment after Vietnam in the retail sector. The modern retail industry is booming across the world.
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retail sector - Retail Industry History The retail industry...

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