1Head & Associate Professor in, Commerce, Nehru Arts & Science College, Combatore
2Asst. Prof in, Commerce, Vidyasagar College of Arts & Science, Udumalpet
Online published on 3 April, 2017.
India has witnessed a revolution in the last two decades as a result of rapid urbanization and changing consumption. The largest beneficiary of this revolution is the retail industry. It has emerged as one of the most dynamic and fast-paced industries in the economy. The sector immensely contributes to the economic development of the country by contributing about 35% of the GDP in India. Earlier, retail industry was comprised of small and often family-operated shops. Recent decades witnessed a great change in the industry with emergence of department stores and shopping malls. Today, large mass merchandise stores, specialty stores and online shopping are more common. The modern retail industry is blooming across the world.
