RETAIL INDUSTRY

Retail industry involves the selling of goods

to the customers. Everyone in the world
should buy something in their day to day
life. Every industries in the industrial sector
should come under this particular industry
for selling every single products of them,
the final stage of all the industries is to sell
their goods. So it is one of the industries
which get mostly affected by the COVID-19.
Retailing also helps to make better place,
time and possession utilities. In this
situation only the needs of the people
should be provided like medicines,
vegetables, water etc., The retailers should
provide them continuously for the good
concern.
 INDUSTRY PROFILE
The retail industry is said to be started in
US. It has started to develop in 18 th century
by starting general stores. In the late 19th
and early 20th centuries, America’s
business and economic sectors changed
dramatically. Agriculture which had
previously been the dominant business
was replaced by manufacturing and
industry. Oil, steel, textile, and food
production in factories brought new jobs
and new standards of living.
The covid-19 virus had effected many
countries globally. In India it has effected
lightly than the other countries. In this
situation India’s growth has decreased by
3% in FY21 in 2020. Due to the lockdown
process many retailers get affected in our
country. The three major contributors to
GDP consumption, investment, and
external trade will get affected due to the
spread of the virus.
Due to this virus the global economy can
be shrink up to 1% this year. This is
disturbing the global supply chains and
international trade. Millions of workers
had lose their jobs globally, it leads to the
recession.
The countries also providing their best to
avoid crisis in their country by economic
contribution like allowances. In India the
interests are no need to pay for 2 months
and importing medicines to other nations.
SWOT ANALYSIS:
The retailer’s financial backing
has plenty of capital access to bank loans.
The retailer’s cheaper wholesale prices are
also their strength. The company may offer
unique products compared to other
retailers.
Through market research the retailers can
check their brand image by comparing to
their key competitors in the market place.
The retailer should their brand quality
compared to other retailers.
Retail industry can identify key
opportunities in the market through a
review of company’s sales force and market
research. It can add some services through
the customer needs.
A retailer can identify the threats through
SWOT analysis. The threat can be identified
by the decrease in consumer demands. A
recession, changes of price, increase in
competitors and most importantly change
in shopping method.
MAJOR PLAYERS OF THE INDUSTRY:
 Reliance retail
 Future Group
 Shoppers Stop
 The Raymond Group
 Avenue Supermarkets ltd
MILESTONES OF THE INDUSTRY:
According to DRDI reports, there
are some factors subsiding retail industry.
In context to Indian retail sector is
categorized into organized and un
organized sectors.
EVOLUTION OF RETAIL IN PAST 10
YEARS:
In 2010 the retail trade contributed
12% to GDP. In 2011 Indian government
announced retail reform to enhance goods
both multi brand (Wal-Mart, Tesco) and
single brand stores (apple, Nike). In 2012
India granted access to reform single brand
stores with 100% ownership. India allowed
fdi in retail reform. In 2018 AI gained more
on global market. In 2019 it considered to
be transformational year for retail industry.