“Retail is a global industry that is changing rapidly,” said Gokul Patel, a senior vice president at retail analytics firm The Times Of India.
Some have very little to no experience in retailing, and others are big players, with big brands. “
There are many different types of retailers.
Some have very little to no experience in retailing, and others are big players, with big brands.
But there are also many small, local retailers that are trying to expand, that are doing very well.”
Patel, who was previously an analyst with a global consulting firm, said the biggest challenge for the retail industry in India is not just that the retail ecosystem is not in place, but that retail is still “very fragmented and fragmented.”
“We see a lot of people coming in who don’t have the knowledge and the skills that we would expect from a retail company,” Patel said.
“The industry is very fragmented and it is a very difficult industry to scale.
We see a huge number of small retailers that need to be very well-managed and be very smart about who they work with, what they’re doing.”
In India, retail has been slow to gain traction in the last few years, with the country seeing a slowdown in sales and growth in spending.
That has caused some major retailers, such as Flipkart and Snapdeal, to scale back their operations.
But Patel said the industry is starting to recover and the country’s retailing ecosystem is “going through some of the biggest transitions.”
“Retail has always been a global economy, and the challenge is that in India we have to look at India’s own ecosystem and its own dynamics,” he said.