Abstract

Retail trade plays a major role in all economies all over the world. The performance of the sector has important implications towards the economic development of a country. Towards the end of 2008-09, while the world economy got shrank, the Indian economy was not much hampered due to its strong consumer demand. Retail demand,, bar some exceptions, has proven to be more resilient than that was expected for many emerging countries during the economic downturn of 2008-09. In India, the concept and idea of shopping have been experiencing a considerable change in terms of format and consumer behavior, ushering a shopping revolution in India. Modern retailing has entered into the retail market in India and is observed in the form of busting shopping centers, multi-storied malls and huge complexes offering shopping, entertainment, and food under one roof. Apart from changing business environment and use of information technology, people are becoming more enthusiasts for brands, online shopping, etc., leading to a considerable growth of retail sector in India.