While the whole world is witnessing a paradigm shift from traditional forms of retailing to a modern organized mall-driven sector, Indian retailing cannot float opposite in the direction the global wind blows. In spite of late entry, it is forecasted that the country will be the second largest market of the world shortly and shall lead the industry, the way world does. Increase in the rate of literacy, growing number of working women, highly disposable income, easy availability of credit at low interest rates and high rate of media penetration along with the assurance of similar quality products with large ambit of price differentiation, painted the country's dynamic organized retail landscape. Rising interest and growing expansion of organized retail market leading to success of a business, depends solely on consumers' urges that there is a need to study their buying behavior. But the existing literature briefs a little about the buying behavior functions in the Indian retail market. The frequent change in lifestyles with changing fashion preference of consumers is fed by the newer retail offerings coming from the organized retailers where apparel gets utmost importance. Keeping these changing facets in view, this study makes an attempt to identify the factors of the consumers' buying behavior that is influenced by retail apparel segment, and to assess the importance of each of them to consumers in selecting apparel from organized retail outlets.

Upsurging consumerism, changing lifestyle, increasing access to information and ever-improving technology, made the last decade observe an enormous development in the retail sector around the globe. Annual sales, averaged at $6.6 tn can easily remove any wrinkle the skepticism gives birth to. The number of countries where retail has emerged as one of the largest industries is not trivial since the names include the US, the UK, Mexico, Poland and Asian economic titans like China, South Korea, Taiwan, Philippines, Malaysia, and none other than our very own India. Moreover, the economies of countries like Singapore, Malaysia, Hong Kong and Sri Lanka depend heavily on retailing. Some bits of background information paint a promising portrait giving retail a strong voice across the globe. Retail in the US generating an average annual sales of more than $3 tn is considered to be the second largest industry ranked both in terms of number of establishments and employees engaging 17% of the total working in the organized sector. The corresponding figure in Poland is 15% and in China it is 12%. Thus, in consonance with the rest of the world India's 8% sways the dream of spectacular growth prospects awaiting retail sector. Assuaging doubts on the future India has also stepped in the organized retail market recently and attracted the whole world as this market is considered to be the fifth largest destination.

A restrictive environment and a mindset favoring denial of over consumption have stunted the development of Indian retail industry keeping it largely unorganized, predominantly consisting of small, independent and owner-managed shops. Nevertheless, retail trade is one of the largest contributors to GDP, constituting 8%. Indian retail market is estimated to grow from $300 bn in 2007 to $427 bn by 2010, and expected to reach $637 bn by 2015 (Memon, 2006). Organized retailing is also showing signs of enormous growth as its share in total retailing reached 5.9% in 2007 from 3.2% in 2005 and is likely to touch 22% by 2010. While the retail market in India, both organized and unorganized taken together, is likely to grow at a Compound Annual Growth Rate (CAGR) of 5.5% (at constant prices) to reach at Rs. 2,40,000 cr by 2015, the growth rate for organized retail market during the same period is expected to be much higher at a CAGR of 21.8% (at constant prices) to touch Rs. 2,46,000 cr. Thus, organized sector growing at a blistering pace is overshadowing the unorganized sector and alongside, Indian cities are witnessing a paradigm shift of retailing to the vibrant organized sector. Clothing and fashion accessories stand to be the largest category followed by food and grocery, footwear, and consumer durables in organized retailing holding 38.1% market share presently, which is translated at Rs. 29,800 cr. Giving due recognition to the recent economic meltdown, the high rate of growth the economy achieved in the earlier years, changing lifestyle, increased rate of literacy, growing number of working women, excessive urbanization, high rate of media penetration, growing young population, tendency to `spend now' and favorable demographic patterns act as the key in the recent spurt of the organized retail sector in India.

Marketing Management Journal, Organized Retail Outlets, Indian Retail Industry, Gross Domestic Product, GDP, Retail Markets, Organized Retailing, Retail Shopping, Customer Loyalty, Marketing Strategies, Marketing Communication Strategies.