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The Emerging Mindscape of Generation V

BY ANINDYA BANERJEE AND SUPRATIM CHOWDHURY

The retail sector symbolizes the ancient Trade-Product Transaction. It works like capitalization of human resource by implementing the IQ ratio to become successful in the trade. The retail market in India has developed into one of the most dynamic and emerging sectors of the economy. The retail industry has achieved a remarkable growth of 8.5% within a short span of time contributing 10% to Indian GDP. As per the source of CII Mekinsey HSBC, the organized retail sector is expected to reach US$10 billion by 2010, dotting 784 metropolitan cities and suburban areas. Ten million prospective jobs are expected from the retail sector, 80% of which will be retail front line jobs. This job essentially requires service rendering to the potential customers, for which no professional skills as such is required except for comprehensive product knowledge with a keenness to serve the potential buyer better.

The life style in India is under transition and this transition is not intra-mural, but has gushed through the capillaries of the country. The development of technology has radically changed our daily life style. It is not only the cosmopolitans who enjoy the benefits of this development, but even the inhabitants of remote areas are well aware of the updated versions of telecommunication, media, electronic gadgets, and so on. The social growth is also notably affected by contemporary applied education, which symbolizes our Global Indian citizenship. A major step was taken by ITC when they launched “Choupal Sagar”, a rural mall. This has enabled rural India to take a step forward in advancement. The term “Global Village” has become contemporary in this present scenario. To take a look at how and why the people of rural areas are gradually engaging themselves in the corporate sector of Retail, we ought to know the present circumstances that have developed in the traditional occupation of the rural India.

The advancement of agricultural research with the help of technology has made it possible for the implementation of the best of cultivation techniques to achieve a high economic scale of production. The previous scenario of monsoon based and animal driven farming is becoming insignificant. The modern methods of cultivation are reducing the cost of manual labor. A major segment of rural India is out of job in the present so-called agricultural backslash. It is also observed that land in cities and towns is not enough to provide for any further industrialization, so rural land is turning lucrative for setting up new industries. As agricultural technology and decline of farming land has reduced the ratio of human labor in the agricultural employment sector, so the generation “V” (village people) is in a big question in respect of employment.

At the same point of time, the retail trade is getting more oxygen through foreign direct investment (FDI) as well as indigenous retail companies. The new players in this sector are tapping the potentiality of the vast Indian consumer market. So now, besides a huge space and investment, the question comes up for the right candidate, one who can serve the customer with in-depth product knowledge and proper attention.

According to latest data, by 2010, 10 million new jobs will be created and the front line jobs will be in the forefront with the quest for the most suitable candidates. The youths of cities and towns are comparatively better exposed to higher education. Furthermore, they are mostly going for either fatty salaries with a brand designation, or for higher degrees. On the other side of the coin are the natives of villages who are not as exposed to higher education or professional. Their wish for a better tomorrow is generally confined to low end jobs.

Now here, when the retail giants are searching for diligent candidates to be placed in their stores spread all over India, the aspirants from rural India are also in search of similar kind of jobs. This situation is one of ‘better work best pay’. The candidates entering the retail market are offering a high-quality and loyal service; in return the companies are also offering a secured future to them. No doubt that the less educated people, mainly from the generation “V”, in the near future will make great success stories, just like their city counter-parts.

The combination of human effort and strategy will take the Indian retail industry to the pinnacle of Indian economy by 2010. The picture is very clear now – the gap has been bridged, the gap has vanished, the backwardness is a story of the past where the scenario is straightforwardness. No matter whether it’s village or city, the retail sector is opening a vast opportunity to the masses for their right future, right atmosphere, and right growth.

 

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We are retail students and by reading this article, we have learned a lot from the information the article has provided. Thank you.                                                                                                                                       Nirmalya Shaw  5/23/08

This article is a great job done and I have learned so many things. Thanks a lot for this.                                                                                                                                                                                              Utpal Chowdhury  5/23/08

The idea that the article depicts is awesome. Previously I did not know about the transformation of villagers in modern retail formats.                                                                                                                                      Kunal Ghosh  5/23/08

Hi everybody. I am well aware about the retail employment, but the scenario in this article is very new to me and it is a whole superior item.                                                                                                                           Kalpadip Dutta   5/23/08

In this article I have found the villagers’ newly found meaning of life in the retail world. Thank you, sir, for being our mentor.                                                                                                                                                            Avijit Paul  5/23/08

I have read this article and being a father of a student of Mr. Banerjee, I am greatly proud to read it. The article is not only a matter but a significant contribution for further study.                                                                                                                                                                             Bhubeneswar Shaw   5/23/08

 

Other essays by Anindya Banerjee:

Other essay by Supratim Chowdhury:

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