Retailing in Rural Market

In: Business and Management

Submitted By jaymin7591
Words 7474
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SAJMMR

Volume 1, Issue 3 (December, 2011)

ISSN 2249-877X

Pu b l i s h ed b y : S o u th As i a n Aca d e m i c Re s ea r ch J o u rn a l s

SAJMMR:
South Asian Journal of Marketing & Management Research RURAL RETAIL REVOLUTION: THE RISE OF RURAL MARKET
ASHISH GUPTA* *Research Scholar, School of management Studies, Motilal Nehru National Institute of Technology, Allahabad, India. ABSTRACT “The future lies with those companies who see the poor as their customers." C. K. Prahalad Strategic Guru Rural India is characterized by low per capita income, low productivity, low literacy and low rate of industrialization along with absence of basic amenities. The unprivileged class is set back by a lack of educational opportunities that could empower them to confidently pursue economic progress and overcome the debilitating effects of low literacy and rigid social hierarchies. The Indian rural retail opportunity is currently estimated to be in excess of Rs. 1400 billion (approximately US$34 billion). The figure is likely to touch Rs. 1800 billion (approximately US$ 43 billion) in 2010 and go up to Rs. 2400 billion (approximately US$ 58 billion) by 2015, according to CII - YES BANK Study on the Rural Retail Sector15. India’s rural markets are growing at double the rate of urban markets. The retail revolution is going to act as a catalyst. So, the new concept that is hitting the market today is the "Rural Retailing". KEYWORDS: Rural India, Rural retail, rural market, Retail revolution, Kirana stores. ______________________________________________________________________________ INTRODUCTION 1. THE RETAIL REVOLUTION In this land of 15 million retailers, most of them owning small mom and pop outlets, we also have a modern retail flourishing like never before. The rural revolution is driven by rising purchasing power, changing consumption patterns, increased access to…...

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