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The Indian retail industry is one of the most dynamic industries. It accounts for over 10% of the country’s total GDP and employs 8% of the total workforce of India. India has the world’s fifth largest retail market and is predicted to surpass France, the fourth largest retail market, by the year 2025. India also holds the second largest population with over 30% of it belonging to the middle class. Adding rapid urbanization and solid growth of the internet to the mix, and we have a retail industry with immense growth and employment potential.

India’s retail market is expected to increase by 60%, reaching US$ 1.1 trillion by the year 2020. This increase would be owing to factors like rising incomes and lifestyle changes by the middle class and increased digital connectivity. India is expected to become the world's third-largest consumer economy leaving behind countries like China, France, and the UK. With the rapid growth of e-commerce in India, the retail market is expanding at an exponential rate. Aided by fierce investment in the retail sector and the exponential increase in the number of internet users, India is expected to become the world’s fastest growing e-commerce market. Indian e-commerce sales are expected to reach US$ 120 billion by FY20 from US$ 30 billion in FY16, a 400% increase. With the help of faster speeds on reliable telecom networks, faster adoption of online services, and better variety as well as convenience, the gross merchandise value (GMV) of India's e-commerce market is expected to reach US$ 220 billion and 530 million shoppers by 2025. 

The Government of India has taken various initiatives to improve the retail industry in India as well. The Government is considering changing the Foreign Direct Investment (FDI) rules in food processing, in an attempt to permit e-commerce companies and foreign retailers to sell consumer products made in India. Supported by rising incomes, favourable demographics, positive government incentives, and increasing urbanization, the long-term outlook for the industry is subjectively positive.

With the retail industry already contributing greatly to the Indian economy and set to grow in the future, retail jobs would become more abundant and offer greater salaries. In franchising, Bengaluru offered the highest CTC at INR 37.50 lac per annum to senior professionals in 2016-17. Hyderabad came in second at INR 24.64 lac per annum. At the junior level, NCR topped the list with a CTC of INR 5.65 lac per annum while Pune offered the highest pay to mid-level professionals at INR 14.38 lac per annum. In visual merchandising, Hyderabad offered the highest pay at the senior level – INR 37.50 lac per annum. At the junior level, NCR offered the highest CTC at INR 4.80 lac per annum. A junior store manager in Chennai secured the highest CTC at INR 4.91 lac per annum while a senior manager made INR 37.50 lac per annum in Pune.

Randstad provides personalized recruitment solutions to professionals looking for opportunities in the retail sector. By leveraging our years of placement experience, we can help find just the right retail jobs for you.    

Source: Randstad Salary Trends

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