Retailigence

“Club of Knowledge Hunters”

A new focus on Indian retail sector

Posted by retailigence on November 23, 2008

Concept (TMI) Private Limited, a part of the Dubai-based Concept Group, launched the Indian edition of Retail ME magazine.

The publication aims to provide up to date news and trends from both local and international retail sectors. India has one of the largest numbers of retail outlets in the world. The Indian retail market is the fifth largest globally and industry estimates is that the sector is likely to grow from $330bn in 2007 to $427bn by 2010.

Though the country’s retail market has been dominated by unorganised players, the trend is changing with entry of domestic and international organised retailers. Organised retail has increased its share from 5% of total retail sales in 2006 to 8% in 2007 according to a study by Deloitte Haskins and Sells. ‘It brings a great sense of pride to witness the robust Indian market complemented by the booming retail sector. Multiple factors like growth in income and changing lifestyles are key elements in the expansion of India’s retail market,’ said Aldrin Fernandes, Chairman and Group CEO, Concept Group.

The Indian retail market has been experiencing a positive influx of retail players from the international market who are keen to tap the Indian consumers. Purchasing power of the middle and upper middle class of the society is powerful and growing which is resulting in the increase in demand for products and brands.

‘The Indian market is viable for local and international retailers with evolving buying patterns and increasing awareness of international trends and products among the Indian consumers. Kids’ apparel to E-tailing for designer wear is undergoing changes in preference and pattern exponentially as India strides ahead as the globally preferred market for retail investment,’ Fernandes added.

‘Retail ME has successfully catered to the Middle East retail sector for many years and it is a rewarding opportunity to be able to cater to one of the fastest progressing sector of the Indian market. The magazine is determined to offer all the latest news, trends and topics from the industry to the Indian and international retailers,’ he concluded.

Sources :-AMEinfo.com

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