RFID technology: Impact of store features on supply chain growth in the retail industry

Retail is poised for the highest growth in next 5 years and the scope of the Indian retail market is tremendous for the growth of the sector; The India retail industry's current growth rate is 9;5% and it contributes to 15% of the country's GDP; Indian retail market is expected to rise to US$ 978.5 billion in 2010 from US$ 608.9 billion in 2010 and the scope for growth can be seen from this fact. By the year 2016, the organized retailing sector in India is only 3.2% and the predictions are it will grow to 30–38%. The scope for the growth of Indian retail sector is tremendous and it proven by the fact that there are under construction around 2500 supermarkets, 500 new malls and 520 departmental stores at present. The change in the consumer's behavior has lead to the growth of scope in Indian retail market; Due to strong change in demographic patterns, changing lifestyle, and increasing income, which are favorable, new generation has preference towards luxury commodities.