To enter a huge emerging market, large-scale retailers such as Wal-Mart may have to recast themselves.
"The enticements of selling in India are clear: a fast-growing market of one billion consumers in which the vast majority have yet to buy their first phone, moped or caffè latte. With incomes rising, credit easing and a fresh view of shopping for fun, retail in India is projected to be a $300 billion business by 2010, up from about $200 billion today....In 2005 alone, it has been forecast that India will triple its organized retail space, to 2.3 million square meters, or 25 million square feet. A question is how "Indianized" the new face of Indian retailing should be."
As megastores try and enter the Indian market they are met by unique challenges including traditional markets, zoning and consumer preferences. The article looks at some of the strategies retailers are adopting to tap this grand market.
Thanks to John Koch-Schulte
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