Role of Micro, Small, and Medium Enterprises (MSMEs) in Economic Development of India
Micro, Small, and Medium Enterprises (MSMEs) contributing around 30% of the Indian gross domestic product (GDP), around 45% of the manufacturing output, and approximately 40% of the country’s exports. It won’t be wrong to refer to them as the ‘Backbone of the Indian economyRead more
MSMEs players a crucial role in the development of the Indian economy and have contributed immensely to the country’s socio-economic development. It not only generates employment opportunities but also works for the development of the nation’s backward and rural areas.
Factors Affecting Consumer Buying Behaviour Towards FMCGs in Organized Retail Sector
One of the most growing industries in India is Organized Retail Industry and was forecasted to grow by 31% in the year 2018. By the year 2021, it is expected to grow to USD 1200 billion. In retail sector India is ranked as fifth most preferred destination which gives an edge to different companies in the retail chain. The Indian retail industry is divided into organized and unorganized sectors. Trading activities undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. comes under organized retailing. Corporate-backed hypermarkets and retail chains and also the privately owned large retail businesses are the examples of organized retailing. on the other hand, unorganized retailing, refers to the traditional formats of low-cost retailing, such as the local Kirana shops, owner manned genRead more
eral stores, paan/ beedi shops, convenience stores, hand cart and pavement vendors, etc. This study has measured the consumer buying behaviour for the factors of product performance, quality, price, promotions and customized services towards FMCGs from the perspectives of gender, age and income. These three demographic attributes are important because these have an effect on their preferences. For this Independent-test and One Way ANOVA were applied to check the differences. The study concluded that difference was noted only in customized services and promotions whereas for age and income, difference was observed only in customized services. In rest factors they equally perceive. The study will helpful for retailers in framing the strategies and get an opportunity to them how the consumer behaviour is influenced by such factors Read less