Changing Demographics and the Challenges to Indian Retailers

Abstract

The generation a consumer was born into, defines their attitudes and experiences, which plays a great role in their buying behaviour. Although individuals have distinct characteristics, researchers are trying to identify commonbehaviours and attitudes within the generational groups. The main objective of this paper is to understand and highlight the challenges created by demographic trends to the Indian retailers. Population dynamics have always been constantly changing and the world's population is expected to cross 9 billion by 2050. This paper analyses the enormous challenges to the retailers posed by changing demographics and how they need to be prepared to face them and to convert them into business opportunities.