Subodh Varma (Times News Network) writes:
You can now tell why the retail boom is about to happen in India. With about 11 retail shops for every 1,000 persons, India has the highest shop density in the world. That's one shop for every 20-25 families. In cities, the density is much higher. Delhi, for example, has nearly 45 shops per thousand persons! Americans, arguably the biggest spenders in the world, have to make do with just about 4 shops per 1,000 persons.
Singapore, the shoppers' paradise, has a similar density. England (rather, UK), once scathingly referred to as the nation of shopkeepers by Napoleon, is only marginally better — it has nearly 5 shops for every 1,000 persons.
According to a study by industry body Ficci, the total retail trade in India was worth Rs 11,00,000 crore in 2003. Of the approximately 12 million retail shops, 96% occupy floor space of less than 500 sq ft. And this is where comparisons with retail powers, like US or Singapore, end. In India, shops are many but they're small. Entry of big retail would consolidate the sector into fewer but bigger shops. The high number of shops in India is because most of them are in the unorganised sector — your local paanwallah, kirana store, subziwallah and so on.
More info @ http://economictimes.indiatimes.com/articleshow/816179.cms
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