What is Modern Retail? Discuss its features, scope, growth, challenges and opportunities that are available in Modern Retail Sector?

Modern retail refers to the organized, structured, and technologically advanced form of retailing where businesses operate through systematic processes, standard practices, and multiple formats such as supermarkets, hypermarkets, department stores, online stores, and exclusive brand outlets. It emphasizes customer-centric approaches, advanced supply chain management, and the use of technology to enhance the overall shopping experience. Unlike traditional retailing, which is fragmented and often informal, modern retail operates at a larger scale, offering a wide variety of products and services under one roof or through integrated online platforms.

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