Over the last few years, retailers around the world have embarked on a plethora of innovations, which change the way consumers shop.
The advancements in technology and their widespread usage by consumers and retailers alike are contributing to the pace at which this transition in retail is happening.
For instance, online retailing has provided consumers a lot of benefits—in terms of discounts, product varieties and convenience—that are unmatched by physical retailing. While this scenario has resulted in the substantial growth of online retailers’ market share across the globe in the last few years, it also has triggered off bigger innovations from physical retailers.
This paper attempts to discuss this journey of transition in retail across the globe and in India as a result of the changing retail environment. For India, we will have a closer look at each of the top seven retail cities and the impact that this retail transition has had on organised retail real estate market.