Retailing is a vital part of the business industry that involves selling products and services to consumers for their individual or family use. Retailing can also be defined as the timely delivery of goods demanded by consumers at an affordable and competitive price.
There has been a significant change in retail trading over the years, a transition from the traditional retail sector to organized retailing. The size of Indian retail at present is US $ 300 billion; by 2015 Indian retail business will be worth US $ 637 billion. With around 13% contribution to the GDP and 7% employment of the national workforce, retailing is undoubtedly a strong pillar of the Indian economy and a sector offering huge opportunities.