PRODUCT PRICING AND PROMOTIONAL SCHEMES AT MODERN RETAIL STORES
Dr C S Dalvi
Retail Industry India is expected to grow at 10 per cent a Compound Annual Growth Rate (CAGR) of to $ 1.6 trillion by 2026 from $ 641 billion in 2016. Overall retail market of the consumer is likely to grow at the rate of 12 per cent per annum, retail through the organised retail industry may grow at the rate of 20 per cent per annum as compared to the traditional retail or unorganised retail market which is likely to grow at the rate of 10 per cent.
Lifestyle in India is changing and the concept of ‘value for money' is picking up local companies, and local-foreign joint ventures are expected to position than the purely foreign ones more advantageously. Up and coming modern retail channels such as hypermarkets, supermarkets, convenience stores and discounters were unable to make a significant mark in grocery retailers' value due to a limited geographical spread in consumer reach. Department stores within mixed retailers were the forerunner in growth, being boosted by the introduction of lifestyle concept stores. The average Indian deserves consumption of good quality of products at prices he can afford. In a developing country like India, a major chunk of a consumer's expenditure is on retail products.
KEYWORDS:- Retailing, modern retails, service, FDI, Unorganised retail, Customer., facility