Retailing today is the fastest growing sectors in the global economy and is under transition phase; not only in South Asian countries like India and China but throughout the world. The increased popularity of organized retailing is mainly because of the consumers’ changing behavior. This change has become possible due to double income families, breakup of joint family concept, changing lifestyles and favorable demographic patterns. Today consumers prefer to shop at places where they can get grocery, food, apparels, entertainment and others daily routine items under one roof. This has made retailing the most attractive sector of the Indian economy. We are all witness to rapidly changing retail sector in India. The major changes that have made their existence felt have happened in the last decade. The neighbourhood shops have gradually changed into a small super value stores. This change has been felt prominently in metro as well as other smaller cities and towns (tier II and tier III cities). The consumers are not only experiencing this change but also one of the causes behind it. Sometimes it seems that the retail market in India is changing even faster than the people of the country are able to understand it. Retailers are all set to make predictions and strategies about the new trends the market may come up with. To keep themselves abreast of the new unforeseen changes, they are all making necessary amendments by modifying their business strategies and by introducing new formats. The important thing is that it is not only the retailer who is changing, the consumer is changing as well in the changing retail environment.