India is termed as one of the largest economies in the world. There is a gradual increase in GDP and the purchasing power of Indian which provides an excellent opportunity for organized retailing. The fast and furious pace in the growth of the Indian economy is also the driving force for Indian consumerism. Projections by analysts suggest that India has the potential to be labeled the fastest growing economy and outpace the developed economies by 2050. India presents a significant market with its young population just beginning to embrace the significant lifestyle changes.
The demographic and the economic facts that are widely quoted and are undoubtedly impressive but to assess them as true nature of retail opportunities, which we need to understand the deep transformation made at that is occurring in Indian consumers. Consumers are more educated and informed than ever, and they have the tools to verify companies' claims and seek out superior alternatives. They tend to be value increaser, within the actual bounds of search costs and limited knowledge, mobility, and income. Customers also estimate the offer which will deliver the most perceived value and the act on it. Whether or not the offer also lives up to expectation affects customer satisfaction and the probability that will purchase the product again and again.
Key words: Economies, GDP, Demographic, Indian Consumers, Mobility.
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