Indian Organized Retail Sector's Impact On Lifestyles

The Indian organized retail sector's impact changed the lifestyle of the Indian consumers drastically. The evident increase in consumerist activity is colossal which has already chipped out a money making recess for the Indian organized retail sector.

With the onset of a globalized economy in India, the Indian consumer's psyche has been changed. People have become aware of the value of money. Nowadays the Indian consumers are well versed with the concepts about quality of products & services. These demands are the visible impacts of the Indian organized retail sector.

Since the liberalization policy of 1990, the Indian economy, and its consumers are getting whiff of the latest national & international products, the with help of print & electronic media. The social changes with the rapid economic growth due to trained personnels, fast modernization, enhanced availableness of retail space is the positive effects of liberalization.

The growth factors of organized retail in India are:-

• Increase in per capita income which in turn increases the household consumption
• Demographical changes and improvements in the standard of living Change in patterns of consumption and availability of low-cost consumer credit
• Improvements in infrastructure and enhanced availability of retail space
• Entry to various sources of financing

The non-food sector, segments comprising apparel, accessories, fashion, lifestyle felt the significant change with the emergence of new stores formats like convenience stores, mini marts, mini supermarkets, large supermarkets, and hyper marts. Even food retailing has became an important retail business in the national arena, with large format retail stores, establishing stores all over India. With the entry of packaged foods like MTR, ITC Ashirbad, fast foods chains like McDonald's, KFC, beverage parlors like Nescafe, Tata Tea, Café Coffee and Barista, the Indian food habits has been altered. This stores have earned the reputation of being 'super saver locations'.

India will be an unique business arena in whole of the global economy, for the social and economic parameters would overrule the big bang of the vivid competition. Previously mastered by the unorganized retail sector, India opened up late as an economy in 1990 until then the idea of retail formats were spread by the government.