The retail industry is developing rapidly in India with big foreign companies like Walmart and Tesco hoping to open retail stores there. The marketplace is expected to double in size from $396 billion this year, to $785 billion by 2015, according to Business Monitor International.
Walmart currently operates 17 wholesale businesses there, but has been restricted from opening retail stores. However, last November, India’s Prime Minister, Manmohan Singh, announced that Walmart and others could open retail stores, but that news has been met with angry resistance from many of the millions of small mom-and-pop shops who fear the retail giants will put them out of business. These small businesses (traditional trade) have a powerful voice; barely 6% of India’s $470 billion in retail sales takes place in organized retail stores.
Still the fast moving developments hold promise for shopper marketing agencies like TracyLocke, which recently integrated its expertise with engagement and experiential marketing agency DDB Mudra Group. The group, in business in India for 31 years, is headquartered in Mumbai with offices across the country.
Read more here