Challenges and Prospects of the Unorganized Retail Sector in Ballari and Raichur Districts A conceptual analysis

Challenges and Prospects of the Unorganized Retail Sector in Ballari and Raichur Districts A conceptual analysis
Author(s):
maheboobm208@gmail.com, Dr. Siddappa
Keywords:
Unorganized. Collaborate. Policy maker.
Abstract
This article examines the problems and prospects of the unorganized retail sector in Ballari and Raichur districts. The unorganized retail sector faces several challenges, including the lack of formalization, limited access to finance, infrastructure constraints, intense competition, limited market reach, skill gaps, and regulatory hurdles. However, despite these challenges, there are prospects for growth and development. Unorganized retailers can leverage their localized market knowledge, offer personalized customer experiences, adapt quickly to changing trends, focus on niche and specialty products, build community connections, collaborate within the sector, adopt technology, and invest in skill development. Addressing these challenges and capitalizing on the prospects requires collaboration among policymakers, government bodies, industry associations, and retailers. By doing so, the unorganized retail sector in Ballari and Raichur districts can overcome obstacles, compete effectively, and contribute to the local economy and inclusive growth.
Article Details
Unique Paper ID: 161287 Publication Volume & Issue: Volume 10, Issue 3 Page(s): 167 - 171
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