Abstract
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country‟s Gross Domestic Product GDP and around 8 per cent of the employment. India is the world‟s fifth-largest global destination in the retail space. India‟s retail market is expected to grow at a Compound Annual Growth Rate CAGR of 10 per cent to US$ 1.6 trillion by 2026 from US$ 641 billion in 2016. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 percent. Indian retail market is divided into “Organized Retail Market” which is valued at $60 billion which is only 9 per cent of the total sector and “Unorganized Retail Market constitutes the rest 91 per cent of the sector. India‟s Business to Business B2B e-commerce market is expected to reach US$ 700 billion by 2020.Online retail is expected to be at par with the physical stores in the next five years.Service quality can be described as the negotiation process between Millennials Shopper s and service providers where resource allocation and management are done equally to satisfy both party„s interests as Millennials Shopper„s perception of service quality and employee„s job satisfaction are interrelated. Millennials Shoppers are those who grew up using electronics, the Internet and online social communities. This research explores how interactive product virtualization technologies can engender virtual product experiences, affecting Millennium generation shoppers and measure the service quality of selected retailer in Chennai city.
Keywords: Generation Y, Retail outlet, Service Quality Element, Shopper Experience.
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