Trends in retail trade

India

The Indian retail market is the fifth largest retail destination globally. The current size of the Indian retail industry stands at $511 billion in 2008. Simultaneously, modern retail is likely to increase its share in the total retail market to 22 per cent by 2010. Organised retail in India raked in US$ 25.44 billion turnover in 2007-08 as against US$ 16.99 billion in 2006-07, a whopping growth rate of 49.73 per cent (according to the Credit Rating and Information Services of India). Organised retail has increased its share from 5 per cent of total retail sales in 2006 to 8 per cent in 2007. India has one of the largest numbers of retail outlets in the world. Of the 12 million retail outlets present in the country, nearly 5 million sell food and related products. Though the market has been dominated by unorganised players, the entry of domestic and international organised players is set to change the scenario. Per capita retailing space is about 2 sq. ft (compared to 16 sq. ft in the U S). India's per capita retailing space is thus the lowest in the world. Around 7% of the population in India is engaged in retailing, as compared to 20% in the USA.


Statistically, the global retail industry is witnessing a CAGR of 5.5% is slated to grow at the same rate till 2009. The following graph shows an overall trend of the global retail revenues.