India is ranked in the biggest retail markets in the world in terms of economic value. It has become the 3rd largest economy (in terms of GDP) in the world in terms of consumerism and will hit the target of $600 Billion. The small retail stores contribute the highest in this number and will surely grow in the future. The advent of the e-commerce retails is affecting the business to a considerable extent in the urban and semi-urban scenarios. The higher percentage of discounts, offers, promotional rebates, etc from the e-commerce stores on the similar products have made the competition tough for the small retailers. In order to survive the harsh competition and make a good income, the retail shops need to renovate themselves in a new way.
If you are in dire need of strategies regarding how to grow your small retail business, you can concentrate on the following expert tips from the leading retailers in India.