Retail: Quirky facts
Retail: Quirky factsUpdated: May 19, 2008, 17:15 IST
Kishore Biyani, who wrote the book It happened in India , deliberately designed Big Bazaar to be crowded and chaotic like an Indian bazaar, lacking in the glitz associated with modern retail, because he believed this was what Indian shoppers wanted.
Rural India accounts for 55 per cent of total private consumption in India and is made up of 720 million consumers. No retailer can afford to ignore the rural consumption market, but it is extremely diverse and the challenge is how to create a product that meets its needs.
When the first shopping mall in Mumbai opened, it allowed only those visitors who had a credit card or mobile phone.
As far as malls are concerned, there are 400 of them in India today. And this figure is expected to grow to 600 by 2009.