Effect of Age on Consumer Preference for Traditional Grocery Stores

Retail is one of the most attractive sectors of the Indian economy which is going through an evolution of changes. The growth rate of retail in India has been tremend ous. Changes in retail policies, rapid infrastruct ural development, flexible credit system, availability o f disposable income are some factors leading to the growth of this sector. According to Mc Kinsey & Co. India is one o f the fastest-growing retail markets in the world. Consumerism in India is witnessing tremendous growth. As per t he survey of CFO’s in the Indian retail sector this growth is driven by favourable demographics, rising income le vels, urbanization. The Indian retail market, which in 2013, was estimated at US$520 billion and is expected to grow at a CAGR of 13% to reach around US$950 billio n by 2018. As consumers’ preferences are changing, this study looks into age wise preference of consumers towards traditional market system.