A Comparative study of Business Policies and Practices of Mall and Kirana Stores in Aligarh Division

Abstract

The retail scenario in India is unique as compared to the world scenario. In the early 1980s newlinethe industry was dominated by the unorganized sector largely comprised of peddlers, newlinevegetable vendors, neighborhood Kirana stores etc. It is only with the blessing of government newlinepolicy of liberalization, privatization, globalization in 1991 that organized sector in India newlinehave been progressing day by day. The change in the demographic profile of the Indian newlineconsumers and consumers buying behavior gave momentum to the growth of retail sector in newlinethe economy. The Indian consumer today has wide choice ranging from shopping centers to newlinemultiplex malls that offer everything under single roof. newlineRetailing in India has emerged as the most promising and dynamic industries accounting for newlineover 10 percent of the gross domestic product (GDP). Its size is the largest among all the newlineindustries and India is the fifth largest retail market in the world. In 2016, the Indian retail newlinesector was estimated at US$ 520 billion and was among the largest employers in the country. newlineBy 2020, the Indian retail sector is likely to grow at a compound annual growth rate (CAGR) newlineof 16 per cent to reach US$ 950 billion. Food and grocery is the largest category within the newlineretail sector. Amongst the 30 countries surveyed in terms of global retail development it newlineranked fourth. The retail sector in India is the biggest source of employment only after the newlineagriculture sector, thus accounting for eight percent of the employment in the country. newline