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Facts about Retail Industry in INDIA: Retailing in India is one of the pillars of its economy and accounts for 14 to 15 per cent of its GDP Fifth largest in the world Fastest growing industry in the country, expected growth rate 25%-30% annually Mostly the industry in unorganized due to huge difference in taste and demands The industry is getting more popular nowadays and becoming organized also in terms to serve the needs of customers
Challenges faced by Retail Industry in India: Automatic approval is not allowed for foreign investment in retail Regulations restricting real estate purchases, and cumbersome local laws Taxation, which favours small retail businesses Absence of developed supply chain and integrated IT management Lack of trained work force Low skill level for retailing management Lack of Retailing Courses Intrinsic complexity of retailing – rapid price changes, constant threat of product obsolescence and low margins3
MOM & POP STORES: Generally family-owned businesses catering to small sections of society Owned and operated by individuals Range of products are very selective and few in numbers These stores are known for their high standards of customer service6
Peddlers and Hawkers Hawker: An individual who sells wares by carrying them through the streets persons ordinary methods of attracting attention include addressing the public, using placards, labels, and signs, or displaying merchandise in a public place A peddler is defined as a retail dealer who brings goods from place to place, exhibiting them for sale he does not have a fixed place of conducting business, but regularly carries the goods for sale with himself he or she does not have a fixed place of conducting business, but regularly carries the goods for sale with himself or herself7
Market Traders & Street Traders A Street market is an outdoor market such as traditionally held in a market square or in a market town, and are often held only on particular days of the week Very similar markets, or bazaars can also be found in large enclosed spaces, instead of on a street8
SPECIALTY STORES: DEPARTMENT STORES: A typical specialty store gives A retailer of such store carries variety attention to a particular category and of categories and has broad provides high level of service to the assortment at average price & offer customers considerable customer service For example if a customer visits a For example: Food World in Reebok or Gap store then they find Bangalore just Reebok and Gap products in the respective stores.10
DISCOUNT STORES: CONVENIENCE STORES: Offers extensive assortment of Is essentially found in residential merchandise at affordable and cut- areas rate prices Provide limited amount of Normally retailers sell less fashion- merchandise at more than average oriented brands prices with a speedy checkout The service is inadequate Store is ideal for emergency and For example: The Loot immediate purchases For Example: Reliance Fresh11
HYPERMARKETS: SUPERMARKETS: Provides variety and huge volumes of a self service store consisting mainly exclusive merchandise at low margins of grocery and limited products on Operating cost is comparatively less non food items than other retail formats may adopt a Hi-Lo or an EDLP For Example: Dmart , Big Bazaar, strategy for pricing Trent, Landmark, Star Bazaar supermarkets can be anywhere between 20,000-40,000 square feet For Example: SPAR™ supermarket12
MALLS: CATEGORY KILLERS Has a range of retail shops at a single Supplying wide assortment in a single outlet category for lower prices a retailer can Endow with products, food and "kill" that category for other retailers entertainment under a roof The products are displayed at the center For Example: Inorbit Mall, Ambience of the store and sales person will be Mall. available to address customer queries and give suggestions when required For Example: Pai Electronics store in Bangalore.13
E-TAILERS: VENDING MACHINES: Customer can shop and order An automated piece of equipment through internet and the merchandise wherein customers can drop in the are dropped at the customers money in machine and acquire the doorstep products Format is ideal for customers who do This system is currently not widely not want to travel to retail stores and used in India are interested in home shopping For example: Soft drinks vending at For Example: Amazon and Ebay Bangalore Airport14