Retail HR gearing up to become a strategic partner
Changing times. Changing roles
India's retail sector is expected to grow to about US$ 600 billion by 2015 and to US$ 850 billion by 2020. The industry has experienced high growth over the last decade with a noticeable shift towards organized retailing formats. Traditional retail is expected to grow at 7% and reach a size of US$ 650 billion (about 76%), while organized retail is expected to grow at 25% and reach a size of US$ 200 billion by 2020.
Sales through digital channels, notably websites and mobile applications, which at present are miniscule, will increase to 6-8% of the total modern retail amounting to about US$ 13.3-17.6 Billion by 2020.
The Deloitte HR Point of View for the retail sector provides inside story of HR function in the fast growing retail sector. Despite the challenges that retail sector is facing , it is gearing cautiously for its next big move, while HR steadily becomes the business partner.