by . Shell

Changing Face of Industry in India: An Overview of Retail Industry

Mr.Sagar Bhadange

BBA,MBA(Mkt)

Lecturer

ASM IIBR PUNE

India is considering as a fastest growing economy in the world. Due to increase in capital income, changing lifestyle The Indian retail environment has been witnessing several changes. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. The traditional formats like hawkers, grocers and paan shops co-exit with modern formats like Super- markets and Non-store retailing channels such as multi level marketing and teleshopping. To India we can said it is as a nation of shopkeeper. Unorganized retailing consists of small and medium grocery store, medicine stores, subzi mandi, kirana stores, paan shops etc. More than 90% of retailing in India fall into the unorganized sector, the organized sector is largely concentrated in big cities. The BMI India Retail Report for the third-quarter of 2010, forecasts that the total retail sales will grow from US$ 353 billion in 2010 to US$ 543.2 billion by 2014

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Some of following retail giants in India like Bata India Ltd, Big Bazaar Stop, Westside, Pantaloon,Life Style,RPG Retail,Crossword, Wills leading India’s retail industry prominently. Retail is clearly the sector that is poised to show the highest growth in the next five years. The sector is set for a revolution, as both the present players and new entrants are gearing up to explore the market. The existing players like Big Bazaar, Shoppers’ Stop, and Pyramid are expanding to smaller towns and cities. Many other business houses are planning to enter the retail sector either on their own or through partnerships. Even rural areas will provide a huge opportunity to be explored. If consolidation was the buzzword for the retail sector in 2010, the coming year is expected to see some big-bang entries of global retail majors as the sector looks forward to a positive outcome on the relaxation of FDI norms in retail. If we took an example of food retail stores then we have jubilant Food works Ltd. It is a food-service company and currently operates Domino’s pizza stores in India. According to the India Retail Report, 2009, they are the largest pizza chain in India and one of the fastest growing multi-national fast food chains between 2006-2007 and 2008-2009, in terms of number of stores. Hence these some of the players are leading players they are maintaining the competition in Indian retail sector. Some of Indian retail players also coming with the new retail concepts

Arvind Limited, the global textile conglomerate and leading apparel retailer, launched a new Exclusive Brand Outlet (EBO) concept in Hyderabad. The Hyderabad outlet is the first example of this unique concept that brings together the best of custom tailoring and ready-made apparel.

Hence overall we can say that retail sector is likely to boom in India and also the face of retail sector is changing day by day.

References

http://www.ibef.org/industry/retail.aspx

www.wikipedia.org

by . Shell

Changing Face of Industry in India: An Overview of Retail Industry

Mr.Sagar Bhadange

BBA,MBA(Mkt)

Lecturer

ASM IIBR PUNE

India is considering as a fastest growing economy in the world. Due to increase in capital income, changing lifestyle The Indian retail environment has been witnessing several changes. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. The traditional formats like hawkers, grocers and paan shops co-exit with modern formats like Super- markets and Non-store retailing channels such as multi level marketing and teleshopping. To India we can said it is as a nation of shopkeeper. Unorganized retailing consists of small and medium grocery store, medicine stores, subzi mandi, kirana stores, paan shops etc. More than 90% of retailing in India fall into the unorganized sector, the organized sector is largely concentrated in big cities. The BMI India Retail Report for the third-quarter of 2010, forecasts that the total retail sales will grow from US$ 353 billion in 2010 to US$ 543.2 billion by 2014

]]>

Some of following retail giants in India like Bata India Ltd, Big Bazaar Stop, Westside, Pantaloon,Life Style,RPG Retail,Crossword, Wills leading India’s retail industry prominently. Retail is clearly the sector that is poised to show the highest growth in the next five years. The sector is set for a revolution, as both the present players and new entrants are gearing up to explore the market. The existing players like Big Bazaar, Shoppers’ Stop, and Pyramid are expanding to smaller towns and cities. Many other business houses are planning to enter the retail sector either on their own or through partnerships. Even rural areas will provide a huge opportunity to be explored. If consolidation was the buzzword for the retail sector in 2010, the coming year is expected to see some big-bang entries of global retail majors as the sector looks forward to a positive outcome on the relaxation of FDI norms in retail. If we took an example of food retail stores then we have jubilant Food works Ltd. It is a food-service company and currently operates Domino’s pizza stores in India. According to the India Retail Report, 2009, they are the largest pizza chain in India and one of the fastest growing multi-national fast food chains between 2006-2007 and 2008-2009, in terms of number of stores. Hence these some of the players are leading players they are maintaining the competition in Indian retail sector. Some of Indian retail players also coming with the new retail concepts

Arvind Limited, the global textile conglomerate and leading apparel retailer, launched a new Exclusive Brand Outlet (EBO) concept in Hyderabad. The Hyderabad outlet is the first example of this unique concept that brings together the best of custom tailoring and ready-made apparel.

Hence overall we can say that retail sector is likely to boom in India and also the face of retail sector is changing day by day.

References

http://www.ibef.org/industry/retail.aspx

www.wikipedia.org