Retail formats in India: A classification, analysis and prognosis

Abstract

The retail industry is fast undergoing change but the needs and wants of the consumers are still the driving force behind buying behaviour. Moving forward though, the retail industry will see a shift in the way consumers make their purchase decisions because of the impact of technology and there will be a rise in innovative business models because of this impact. Thus, it is very important to study the role of innovation and technology in the future of the retail industry. This report outlines the impact of four factors namely technology and tools, aesthetics, customer engagement and big data analytics on the various retail formats in India. It goes on to assess the value created by different retail formats in terms of their operations and for the customers. This is followed by a conclusion on the sustainable practices seen in different retail formats and the future trends that will accompany the industry.