Small towns play the role of bridge, which connects the villages and cities. Small towns are the places, where one can have a glimpse of transition, moving from villages to cities. There are also a lot of businesses opportunities open for small towns, for those who want to try in the retail industry.
The Indian retail industry accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanisation and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent.
India’s Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020. Online retail is expected to be at par with the physical stores in the next five years.
Small towns fall in the category of second priority, followed by cities, for the retail owners, when it comes to expanding their business.
Here are some of the successful retail business ideas:
There are many Coffee retail chains, which are willing to lend their brand and provide business opportunities for the small towners.
Café culture has found its demand in recent years and has left a lot of space to grow. Youth, especially the college goers, bachelors are fond of cafes.
Thus opening a retail café will give a lot of business as well as help in reaching the brand to every corner of the country.
Small towners fit in the band width, which has accepted western culture yet are rooted to their own tradition, which is why opening a retail clothing store will help in building a good business.
There are all types of clothing available in the market and new funky styles are being experimented but yet there is this old charm, which lingers when we speak about the traditional or handicrafts of some places, such as Bandej work of Rajasthan, Ikkat work of Odisha and Kanjivaram of Tamil Nadu.
One can start an e-commerce site or brick and mortar store, where one can sell these items and help the handicraft team not thrive on the edge. It will not only help in making business but also will help in preserving these age old works, which are on the verge of extinction.
Jewellery is the ladies’ best friend, but wearing gold is not possible for everyone. The young girls, who have joined college recently can have the privilege of making a collection of antique styled, customized jewellery.
Chunk Jewellery has just entered the market and people have already given a warm welcome. If one has the nose for picking up the right style and customizing the jewellery, which can appeal the mass.
A retail store, where one can see artists giving shape to metals is interesting as well as it is giving a platform to showcase their work, will appeal the small towners to try.
Bar or pub:
If a retail pub or bar, can find its place next to a community centre, clubs, place such as where adults like to hang out post their daily job or work.
An alcohol serving bar or pub will do a great business.
Kitty parties or weekend get together for seniors demand a little taste of alcohol to have fun, which is why it is a great opportunity for the retail breweries and retail bars / pubs.