Retail and business process outsourcing (BPO), information technology enabled services (ITES) sectors saw highest growth in Monster Employment Index India during February 2011. It exceeds last year’s levels by robust 45 per cent and 43 per cent respectively. The index registered an annual growth rate of 21 per cent in February 2011 across all sectors, Monster.com said in a statement.
IT and technology jobs have been seeing an upward trend for some time but what comes as a pleasant surprise is the increase in the rate of retail sector. It is not just in the online segment. Retail and hospitality has in fact been doing quite well in off line recruitment as well. It comes in tune with the definite growth in both sectors in India. It is being predicted retail sales will grow from US$ 353 billion in 2010 to US$ 543.2 billion by 2014 from 2010. The BMI India retail report predicts a golden future for the retail sector in India. There are a few emerging trends in retail. First among them is the growth of organized retail in tier 2 and 3 cities as well as urban areas. The age of local grocery shop is almost over. The other trend is large format retail stores where you get tomatoes to TVs. Rural online sales in retail is rising too. This comes as a surprise but mobile phones and computers have a large buyer base in rural India shopping online. The rise in rural retail sales are forcing many old fashioned brands to form their own e-commerce sites.
The other sector is hospitality. Again, its not just the tier one urban areas which is seeing a spurt in growth in this sector. Apart from the usual 5 star hotel spurt, there is a huge rise in 3 and 4 star hotels in cities like Lucknow and Amritsar. Hotels companies are being formed, and growing. New formats are rising every day. From boutique hotels, "affordable boutique" hotels, "no frills" hotels like Ginger, to hotel chains which concentrate on a particular type of location, like pilgrimage cities, are on the rise. The plan is to give the consumer a good experience at non 5 star prices. And these are selling like hot cakes. Riding on the waves are "Guest House" formats in cities which offer cheap no frill rooms, with only AC and kitchen at very competitive prices. These are catching up with companies with travelling executives as also with lay people like me, who just booked 4 guests of mine at a guest house in Middleton Street, in a weeks notice, at a nominal price of Rs 1400 per room. Food is extra, but there is a kitchen and cook to cook what you wish. Its nominal anyway compared to restaurant prices. Compare it to Park Hotel nearby which charges almost Rs 10,000 per night. An AC room for two days, when I would be sightseeing most of the day, with a cook to cook me chicken butter masala and payesh, at 1/8th the price... I would take it any day!
IT and technology jobs have been seeing an upward trend for some time but what comes as a pleasant surprise is the increase in the rate of retail sector. It is not just in the online segment. Retail and hospitality has in fact been doing quite well in off line recruitment as well. It comes in tune with the definite growth in both sectors in India.
The other sector is hospitality. Again, its not just the tier one urban areas which is seeing a spurt in growth in this sector. Apart from the usual 5 star hotel spurt, there is a huge rise in 3 and 4 star hotels in cities like Lucknow and Amritsar. Hotels companies are being formed, and growing. New formats are rising every day. From boutique hotels, "affordable boutique" hotels, "no frills" hotels like Ginger, to hotel chains which concentrate on a particular type of location, like pilgrimage cities, are on the rise. The plan is to give the consumer a good experience at non 5 star prices. And these are selling like hot cakes. Riding on the waves are "Guest House" formats in cities which offer cheap no frill rooms, with only AC and kitchen at very competitive prices. These are catching up with companies with travelling executives as also with lay people like me, who just booked 4 guests of mine at a guest house in Middleton Street, in a weeks notice, at a nominal price of Rs 1400 per room. Food is extra, but there is a kitchen and cook to cook what you wish. Its nominal anyway compared to restaurant prices. Compare it to Park Hotel nearby which charges almost Rs 10,000 per night. An AC room for two days, when I would be sightseeing most of the day, with a cook to cook me chicken butter masala and payesh, at 1/8th the price... I would take it any day!
