Buying preference of rural consumer towards retail goods: An empirical study
The paper examines the behavior of rural consumers towards buying the retail goods. The paper presents the consumer behavior, experience, demographics and preferences in Indian retail marketing and also revealed the results on the basis of field survey. In this connection, the research has divided into five sections which presents the introduction, research problem, review the literature, research methodology, data analysis and concluding the study. The consumer market in the developed countries is saturating, and therefore, big retail companies in those countries are increasingly expanding their footprint in emerging countries like India, China, and Russia. Even though 100% FDI is not permitted in the retail sector, India continues to attract leading global retailers to start retail business through local alliances. For example, recently, Wal-Mart has opened its first store at Amritsar (Punjab) in a joint venture (JV) with Bharti Enterprises, and it is also planning to expand its footprint to other parts of India. The fact that the penetration of organised retail in BRIC countries is much lower than the developed countries is acting as an added advantage for these retail giants. Studies like the MasterCard Worldwide Index of Consumer Confidence have ranked Indian consumers as some of the most confident in the world. The more confident the consumers are about the strength of the economy, their personal finances, their career growth, etc., the more they tend to increase their consumption, purchase non-essential products, experiment with products, brands, categories, etc. Besides, the country’s rural population of 700 million presents an opportunity for retail and consumer companies that cannot be ignored. The current estimated value of the Indian retail sector is about 500 billion USD and is pegged to reach 1.3 trillion USD by 2020.
How to cite this article:
Dr. K Srivani. Buying preference of rural consumer towards retail goods: An empirical study. Int J Appl Res 2020;6(12):301-304.