Transformation of Retail in India

8/3/2019 Transformation of Retail in India

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A project report on retail industry in global environment

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1. Projectsformba.blogspot.com A Project Study Report On RETAIL INDUSTRY INGLOBAL ENVIRONMENT Submitted in partial fulfillment for the Award ofdegree of Master of Business Administration (Finance) Submitted By: - SubmittedTO:- Department of management SIRT-S Sagar institute of research & technologyscience AYODHYA BY PASS ROAD, BHOPAL- 462041 (Affiliated to BarkatullahlUniversity, Bhopal) 2008-2010Projectsformba.blogspot.com Page No. 1

2. Projectsformba.blogspot.com DECLARATION I hereby declare that the workincorporated in the present research project entitled: RETAIL INDUSTRY INGLOBAL ENVIRONMENT is my own work and is original in nature. This work (inPart or in full) has not been submitted to Barkatullah University, Bhopal for the awardof a degree. Place: Date:Projectsformba.blogspot.com Page No. 2

3. Projectsformba.blogspot.com ACKNOWLEDGEMENTI express my sincere thanksto my project guide, .. forguiding me right from the inception tillthe successful completion of the project. Isincerely acknowledge him/her/themfor extending their valuable guidance, supportfor literature, critical reviews ofproject and the report and above all the moral supportshe/they had provided tome with all stages of this project.I would also like to thankthe supporting staff of , for their help andcooperation throughout our project.Projectsformba.blogspot.com Page No. 3

4. Projectsformba.blogspot.com TABLE OF CONTENTChapter Content PageNo.Acknowledgement IIList of Tables VIList of Diagrams VII(1) Introduction 1.1Retail Industry 8-26 What is Retail Industry? Structure of Retail Industry Evolution of Retailing Indian Scenario of Retail Industry Retail Worldwidescenario 1.2 Objectives and Role of Retail Industry 27 1.3 Review of Literature 28-34 Major / Minor Challenges in Industry Example of Some Published Issues 1.4Hypothesis 35-46 Past/ Present/ Future of IndustryProjectsformba.blogspot.comPage No. 4

5. Projectsformba.blogspot.com Impact of Retail Industry in India 1.5 Limitations ofthe Study 47-49 1.6 Methodology 50-51 Source of Data Other Source(2)Significance of the study 52 2.1 Opportunities of the Western 53 Retailers in India 2.2Contribution of FDI In Retailing 54 2.3 Benefits To The Indian Consumer 54(3) Research and Analysis 55 3.1 Latest Trends in Retail Sector 56-59 3.2 Major Playerof Retail Industry 60-75(4) Finding 74(5) Conclusion 78(6) Bibliography

81Projectsformba.blogspot.com Page No. 56. Projectsformba.blogspot.comTable No. Title of the Table Page No. 1.1. Growth ofRetail Industry15 1.2. Continuation of GDP21 1.3. World Organization Trade25 1.4.Comparison of Retail Industry 36 3.1. World-Wide Retail72Projectsformba.blogspot.com Page No. 6

7. Projectsformba.blogspot.comTable No. Title of the Diagram Page No. 1.1. IndianRetail Market 10 1.2. Map of Income Classes 12 1.3. Organized Retail Market 13 1.4. Growing Format in India17 1.5 . Retailing Map in India18 1.6. Journey of OrganizedRetail 20 1.7. Total Retail Sales 2007 23 1.8. US Retailing Format 25 1.9 Penetrationof Retail26 1.10 Challenges in Retail Market 28 1.11 Retail Challenge 32 3.1 RetailAnalysis58 3.2 Retail Market59 3.3 Retail Segment 60 3.4 Retail Touches Economy

81Projectsformba.blogspot.com Page No. 78. Projectsformba.blogspot.com Chapter (1)Projectsformba.blogspot.com Page No. 8


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9. Projectsformba.blogspot.comProjectsformba.blogspot.com Page No. 910.Projectsformba.blogspot.com Part-1.1RETAIL INDUSTRY The word "Retail"

originates from a French-Italian word. Retailer-someone who cuts off or sheds a smallpiece from something. Retailing is theset of activities that markets products orservices to final consumers for theirown personal or household use. It does this by

organizing their availability on arelatively large scale and supplying them tocustomers on a relatively smallscale. Retailer is a Person or Agent or Agency orCompany or Organizationwho is instrumental in reaching the Goods or Merchandiseor Services to theEnd User or Ultimate Consumer. Retail is Indias largest industry. Itaccounts for over 10 per cent of theIndias GDP and around eight per cent of theemployment. Retail sector is oneof Indias fastest growing sectors with a 5 per centcompounded annual growthrate. Indias huge middle class base and its untapped retailindustry are keyattractions for global retail giants planning to enter newer markets.Driven bychanging lifestyles, strong income growth and favorable demographicpatterns,Indian retail is expected to grow 25 per cent annually. It is expected thatretailin India could be worth US$ 175-200 billion by 2016. Emerging markets such as

India and China are the final frontier for retailtaking the focus away from saturatedWestern markets. Since 2001, 49 globalProjectsformba.blogspot.com Page No. 10

11.Projectsformba.blogspot.comretailers entered 90 new markets, but at the same time,17 retailers left marketsin 2005. The Indian retail industry in valued at about $300billion and is expectedto grow to $427 billion in 2010 and $637 billion in 2015. Onlythree percent ofIndian retail is organized. Retailers of multiple brands can operatethrough afranchise or a cash-and-carry wholesale model. The Indian retailenvironment has attained $ 210bn quiche, witnessing astrong development pace offive percent per year as per latest survey by PriceWaterhouse Coopers. As per theestimation 200 malls, presenting additional50mn sq ft of retail space will be ready innext two years. Existing retail spacein 160 malls is nearly 32mn sq ft 1.1 Indian RetailMarket The analysts foresee bright future of the retail sector. A huge numberofshopping malls, nearly 100, have come up in the recent past, generating 20mnsq ft.retail space, extending more space of about 12mn sq ft to it. Nearly60Projectsformba.blogspot.com Page No. 11

12.Projectsformba.blogspot.commalls are on the verge of completion and may beoperational by the end ofcurrent financial year. A forecasted number of nearly 200malls, in a move tomake additional 50mn sq ft of retail space, will be completedwithin the nexttwo-years. India retail industry is expanding itself most aggressively,as a result agreat demand for real estate is being created. Indian retailers preferredmeans ofexpansion is to expand to other regions and to increase the number of

theiroutlets in a city. It is expected that by 2010, India may have 600 newshoppingcenters. In the Indian retailing industry, food is the most dominating sectorand isgrowing at a rate of 9% annually. The branded food industry is trying toenterthe India retail industry and convert Indian consumers to branded food. Sinceatpresent 60% of the Indian grocery basket consists of non- branded items. The globalretail giants like Wal-Mart, Gap, Tesco, Versace, K-Mart/SEARS, Carrefour, ZARA,FCUK, Fendi, NEXT, Mother Care, lKEA,Trussardi, DKNY and Debenhams havemade plans to march in the Indianmarket. ESPRIT, GUESS, Chanel, Mango andmany other global marked theirpresence in India by implementing licensing andfranchisee agreements. Theglobal retailers on the line of control, awaiting the greensignal from Govt. toenter Indian retail market. However, the current scenario has

encouragedIndian players to speed up retail expansion and fresh retailventures.Projectsformba.blogspot.com Page No. 12


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13.Projectsformba.blogspot.com Companies like Shoppers Stop, Trent, Reliance,Lifestyle, PantaloonsTanishq, Crossroads, Akbarallys and Tanishq already haveplanned to investover Rs 5,000cr. Trent is on the edge to take both its brands StarIndia Bazaarand Westside to new cities, meanwhile Shoppers Stop has recentlygeared upfor expansion of present ones and to add 11 new stores including

twohypermarkets. Also, Pantaloon has planned to add eight Big Bazaar mallswithinthe next 6 to 8 months. After partition, Reliance Industries Ltd (RIL) is substantiallygettingready to enter in field of retailing. RIL is poised to emerge as the singlelargestplayer in this sector. On the other hand, Toscos, Wal-Marts or Safewaydoesultimately enter in the country. So finally, Shoppers Stops, Westside,Pantaloonsand West sides in coming years have will face stiff competition. 1.2 Map of IncomeClassesProjectsformba.blogspot.com Page No. 13

14.Projectsformba.blogspot.com STRUCTURE OF RETAIL INDUSTRY The retailindustry continued in India in the form of Kiranas till 1980.Soon, following themodernization of the retail sector in India, many companiesstarted pouring in theretail industry in India like Bombay Dyeing, Grasim etc.As has been mentioned

earlier the retail sector in India can be widely split intothe organized and theunorganized sector. Organized Retail Sector After 50 years of unorganized retailingand fragmented Kiranas stores,the Indian retail industry has finally begun to movetowards modernization,Systematization and consolidation. Today, modernization isthe catch phraseand the key to understanding retail in the next decade. Traditionallyretailers 2006-07 1.3 Organized Retail MarketHave had localized operations. Thislocalized nature of the industry is Changingas retailers face lower growth rates andthreatened profitability in homeProjectsformba.blogspot.com Page No. 14

15.Projectsformba.blogspot.comMarkets. New geographies help them sustain top linegrowth in Addition toenabling global sourcing and encasing on global advantages ofgetting the bestproducts at optimum prices. There has been a boom in retail trade inIndia owing to a gradual increasein the disposable incomes of the middle classhouseholds, as a result of goodperformance of IT, Service and Infrastructure sectors.More and more playersare entering the retail business in India to introduce newformats like malls,supermarkets, discount stores, department stores and even changingthetraditional looks of bookstores, chemist shops, and furnishing stores.Organizedretail formats prevalent globallySupermarkets: Self-service 4000-20000 sq ft storeswith shopping cartstypically focused on regular groceries, household goods andpersonal careHypermarkets: Huge stores over 40000 sq ft situated outside the townwithample parking space aimed for bulk purchases stocking electronics, furnitureandclothing. Carrefour is the global major in this format.Mass merchandisers: Large

destination stores that sell everything atcompetitive prices. They have cross-countrychain operations with centralizedsourcing and a hub-and-spoke distribution. Makroand Sams Club are leadingplayers in this format.Projectsformba.blogspot.com PageNo. 15

16.Projectsformba.blogspot.comDiscounters: Aimed at bargain buyers offering lesschoice but deep discount onbulk sourcing deals through controlled inventory. Aldi isthe world leader in thisformat.Convenience Stores: Small stores located at convenient

pointslike petrol stations workinground the clock. 1.1 Growth of Retail Industry Unorganized Retail Sector The unorganized retail sector basically includes the localKiranas, handcart, the vendors on the pavement etc. This sector constitutes about 98%of thetotal retail trade. As 70% of the employment is generated in Agriculture

sector,hence this form of retailing is widely seen in those areas and of course tosomeparts of the urban. There is a lot of hue and cry in the sector for opening ofsector


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for direct investment from the foreign players, but government can notneglect theinterests of small players. One of main reason of not openingthisProjectsformba.blogspot.com Page No. 16

17.Projectsformba.blogspot.comsector to FDI is it may shrink the employment in theunorganized sector andexpand that in the organized. RETAILING FORMATS IN

INDIA Malls: The largest form of organized retailing today. Located mainly inmetrocities, in proximity to urban outskirts. Ranges from 60,000 sq ft to 7,00,000 sqftand above. They lend an ideal shopping experience with an amalgamation ofproduct,service and entertainment, all under a common roof. Examples includeShoppers Stop,

Pyramid, and Pantaloon Specialty Stores: Chains such as the Bangalore based KidsKemp, the Mumbai booksretailer Crossword, RPGs Music World and the TimesGroups music chainPlanet M, are focusing on specific market segments and have

establishedthemselves strongly in their sectors. Discount Stores: As the namesuggests, discount stores or factory outlets, offer discountson the MRP through sellingin bulk reaching economies of scale or excess stockleft over at the season. Theproduct category can range from a variety ofperishable/ non perishable goods Department Stores: Departmental Stores are expected to take over the apparelbusiness fromexclusive brand showrooms. Among these, the biggest success is KRahejasShoppers Stop, which started in Mumbai and now has more than sevenlargeProjectsformba.blogspot.com Page No. 17

18.Projectsformba.blogspot.comstores (over 30,000 sq. ft) across India and even has itsown in store brand forclothes called Stop. Hyper marts/Supermarkets: Large selfservice outlets, catering to varied shopper needs are termed asSupermarkets. Theseare located in or near residential high streets. These storestoday contribute to 30% ofall food & grocery organized retail sales. SuperMarkets can further be classified in tomini supermarkets typically 1,000 sq ft to2,000 sq ft and large supermarkets ranging

from of 3,500 sq ft to 5,000 sq ft.having a strong focus on food & grocery andpersonal sales. Convenience Stores: These are relatively small stores 400-2,000 sq.feet located nearresidential areas. They stock a limited range of high-turnoverconvenienceproducts and are usually open for extended periods during the day, seven

days aweek. Prices are slightly higher due to the convenience premium. Mobs :Multi Brand outlets, also known as Category Killers, offer several brandsacross asingle product category. These usually do well in busy market placesandMetros.Projectsformba.blogspot.com Page No. 18 1.4 Growing Format in India

19.Projectsformba.blogspot.com RETAILING MAP IN INDIA 1.5 RetailingMapProjectsformba.blogspot.com Page No. 19

20.EVOLUTION OF RETAILING Retailing, one of the largest sectors in the globaleconomy, is goingthrough a transition phase in India. For a long time, the cornergrocery store wasthe only choice available to the consumer, especially in the urbanareas. This isslowly giving way to international formats of retailing. The traditionalfood andgrocery segment has seen the emergence of supermarkets/grocerychains,convenience stores and fast-food chains. The traditional grocers, byintroducing self-service formats as well asvalue-added services such as credit andhome delivery, have tried to redefinethemselves. However, the boom in retailing hasbeen confined primarily to theurban markets in the country. Even there, large chunksare yet to feel the impactof organized retailing. There are two primary reasons for this.First, the modernretailer is yet to feel the saturation effect in the urban market andhas, therefore,probably not looked at the other markets as seriously. Second, the

modernretailing trend, despite its cost-effectiveness, has come to be identifiedwithlifestyles. In order to appeal to all classes of the society, retail stores would have


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toidentify with different lifestyles. In a sense, this trend is already visible withtheemergence of stores with an essentially `value for money image. Theattractivenessof the other stores actually appeals to the existing affluent class as

21.Well as those who aspire to be part of this class. Hence, one can assume thattheretailing revolution is emerging along the lines of the economic evolution

ofsociety.It was only in the year 2000that the economists put afigure to it: Rs.400,000crore which is expecteddevelop to around Rs.800,000 crore by the year 1.6Journey of Organized Retail2005 an annual increase of 20 per cent. Retailing inIndia is unorganized withpoor supply chain management perspective. According to arecent survey bysome of the retail consulting bodies, an overwhelming proportion ofthe Rs.400,000 crore retail markets are UNORGANISED. In fact, only a Rs.20,000crore segment of the market is organized. As much as 96 per cent of the5million-plus outlets are smaller than 500 square feet area. This means that Indiapercapita retailing space is about 2 square feet in comparison to 16 square feetin theUnited States. Indias per capita retailing space is thus thelowest in the world.

22.INDIAN SCENARIO OF RETAIL INDUSTRY The present value of the Indian retailmarket is estimated by the IndiaRetail Report to be around Rs. 12,00,000 crore($270billion) and the annualgrowth rate is 5.7 percent. Retail market for food and grocerywith a worth ofRs. 7,43,900 crore is the largest of the different types of retailindustries presentin India. Furthermore around 15 million retail outlets help India winthe crownof having the highest retail outlet density in the world. The contribution ofretailsector to GDP has been manifested below: Country Retail Sectors share in GDP(in %) India 10 USA 10 China 8 Brazil 6 1.2 Continuation to GDPAs can be clearlyseen, retailing in India is superior to those of its contenders.Retail sector is a sunriseindustry in India and the prospect for growth is simplyhuge. There are many factorsthat have stimulated the rise of the shoppingcenters and multiplex-malls in a jiffy.Some of them can be listed as follows:1. Rise in the purchasing power of Indians- therise in the per capita incomein the last few years has been magnificent. This has led tothe generation ofinsatiable wants of the upper and middle class. The demand of newas well assecond hand durables has risen throughout the country thus providingtheincentive for taking up retailing.

23.2. Favorable to farmers- retailing has helped in removing the middlemen andhas thusenhanced the remuneration to farmers. This is a new revolution in theagriculturalsector in India and will go a long way in amending the condition ofagriculture, amajor concern among policy makers.3. Use of credit- a typical Indian is mostconversant with using credit cards thancarrying money. This is led to shift of theconsumer base towards supermarketsand make the payments in the form of credit.4.

Comfortable Atmosphere- a visit to a retail store appears to be moresoothing for thegeneration-Y. People and kids prefer to shop in an airconditioned. The retail industryis the second largest employer in India. Itcurrently employs about 7 percent of thetotal labor force in India. FinanceMinister P. Chidambarams recent statement salariesought not to belegislated is a welcome move as most of the organized retail is inprivatehands. Only 4.6% of the total retail trade is into organized sector. Itgeneratesabout Rs.55,000 crore ($12.4 billion). The major and minor playersdesperatelyneed to work hard in this direction so that next time the figures lookmoredecent. The government must also make an attempt to ameliorate the situationaspolitical instability and infrastructure namely power and roads are themajorroadblocks in the path of smooth functioning of the market.

24.PRESENT INDIAN SCENARIO* Unorganized market: Rs. 583,000 cores*Organized market: Rs.5, 000 cores* 5X growth in organized retailing between 2000-


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2005* Over 4,000 new modern Outlets in the last 3 years* Over 5,000,000 sq. ft. ofmall space under development* the top 3 modern retailers control over 750,000 sq. ft.of retail space* Over 400,000 shoppers walk through their doors every week* 47global fortune companies & 25 of Asias top 200 companies are retailers* Biggestplayer in India is Pantaloon Retail India Limited* Growth in organized retailing on

par with expectations and projections of thelast 5 Years: on course to touch Rs.35,000 corers (US$ 7 Billion) or more by2005-06 1.7 Total Retail Sales 2007

25.RETAIL : WORLDWIDE SCENARIOChina- the total sales from retail market inChina reached US$755 billion in2005. However organized retailing in China accountsfor only 20% of it. Alsothe fragmentation of Chinas retail market is so high that top100 retailers makeup for only 10.5% of the total market. The registered sales ofdepartment storesgrew by 25.7% and that of convenience stores grew by 36.5% in2005. TheChinese retail market is expected to reach new highs as the population ofstrongmiddle class is expected to double by 2020 and mergers and acquisitionsamongretailers are3 going in great guns. The WTO restrictions are also expectedtohave a favorable impact on its retail sector. Key Players Analyzed This

sectioncovers the key facts about players currently operating in the Chinaretailindustry including Shanghai Bailian Group, Beijing Gome Electric,Carrefour,Wal-Mart Stores, Wuhan Zhongbai Group, and China ParadiseElectronicsRetail.Japan- total annual sales for the Japanese retail industry for 2003amounted toJPY 133,273 billion. Japan had 1.2 million retail establishments in June2004and there were 42,738 specialty superstores. The year 2002 to 2004 theannualsales per store increased by 3.8%. The growth was mainly driven by thegrocerysuperstores but the number of superstores specializing in clothes graduallycamedown. The organized retail sector in Japan couldnt perform at its fullefficiencybecause of collapse of the bubble economy in the early 90s

26.Spain- Spain Energy Industry Spain energy consumption is estimated to havereached165 Million Tons of Oil Equivalent in 2006. Fossil fuels are the majorsources forenergy in Spain especially Oil (49.5%) & Natural Gas (19.9%).With the Spanishobjective of energy security & diversity, and clean energysources, renewable sourcesare expected to grow at rapid pace. Key Findings Spain is a net energy importer,with imports accounting for 99% of its totalannual oil and natural gas consumptionand 50% of its coal consumption keyplayers in Spain energy such as Gas NaturalGroup, CEPS Group, Repsol YPF,Endesa S.A. and Gamesa. 1.3 World TradeOrganizationUnited State- Retail is thesecond-largest industry in the U.S.by numberof businesses andnumber of employees. Retail salesin the U.S. (total retail sales 1.8US Retailing Format

27.include the categories of gasoline, automobiles, and food service) were up about3.8%in 2007, to $4.49 trillion (Plunkett Research estimate). The 2007 growthwas drivenpartly by higher gasoline costs as well as by deep price discountingduring theChristmas season by mass merchandisers and year-long discountingby automobiledealers.Brazil- Emerging as one of the worlds largest retail markets. The sales intheindustry have been growing strongly since 2003 and are expected to continue atthismomentum only over the next few years as constantly declining inflationrate allowsfor continued expansion of real incomes (increasing demand for nondurable consumergoods) and credit conditions ease (sustaining demand fordurable goods). A process ofconsolidation of the retail industry has beenunderway but overall, the market remainsrelatively fragmented, indicatingsubstantial scope for the larger players to grow their

market share in future. Thetop five supermarket chains account for approximately40% of total sales.. Allthe market values have been converted to US$ at May 2007


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exchange ratewhere, 1 Brazil Real (BRL) = US$ 0.494 (Approx). 1.9 Penetration ofRetail

28.Part 1.2OBJECTIVES & ROLE OF RETAIL INDUSTRY Retail is clearly the sectorthat is poised to show the highest growth inthe next five years. The sector is set for arevolution, as both the present playersand new entrants are gearing up to explore the

market. This sector contributes10% of Indias GDP and the current growth rate is8.5%. The present size of theorganized retailing sector is approximately 3% and isexpected to grow to25-30% by the year 2010. There are about 300 new malls, 1500supermarketsand 325 departmental stores currently under construction. Many playersarecoming up with huge investments, due to which the present 12 million mom-and-pop shops and Kiranas stores fear losing their business. Most predictionssay that thesector might reach to US$ 400-600 billion by the year 2010 The retail sector hasplayed a phenomenal role throughout the world inincreasing productivity of consumergoods and services. It is the second largestindustry in the United States of America interms of numbers of employees andestablishments. Wal-Mart, the largest retailer inthe United States is also thelargest employer in the United States with annual sales

over $ 284 Billion.There is no denying the fact that most of the developed economiesare verymuch relying on their retail sector as a locomotive of growth. Analysts,CEOs,and others are using consumer spending and consumer confidencedataoriginating from the retail sector as an indicator to gauge the status of theeconomy

29.Part 1.3CHALLENGES OF RETAIL INDUSTRY The big challenge for the Indianretailing industry is the heterogeneity ofthe market. It is up to us retailers to evolvewith consumers, predict where andwhat they will spend on, be there and take thehighest share of their wallet anduse this last leg of the economic chain to build India.At Panta-loon, through ourdelivery formats, we touch 52% of the customers wa llet.My vision is tocapture where this new, young and emergent India is going to spendand captureas close to 100% of their shopping.So far, modern-formatretail has scaledup itspresence in the metros anda few cities. However, thefuture will see tier-II and,1.10 Challenges in Retail Marketmaybe, even tier-III cities attractmore retail outlets.Consumer mindset and behavior is changing in these cities.A growing base ofaffluent, upwardly mobile consumers have similar needs anddesires as their urbancounterparts and they are looking for instant gratification.With satellite television,internet and mobile communication available insmaller cities, people are increasinglyexposed to how the West lives. Tier-IIand tier-III cities present an enormous growthpotential over the next five years and arethe future of modern retail in India

30.MAJOR CHALLENGES1. Amalgamation or Confusion- According to TATAStrategic ManagementGroup, India has a high density retail structure of 1 retail outletper 90 peopleand is the 9th largest retail market in the world. But the structure of theretailindustry in India is in utter jumble. The parallel operation of conveniencestores,supermarkets, hypermarkets and specialty stores in the economy isbewildering.According to the Wheel of Retailing Theory, certain loopholes in one oftheforms of marketing can get communicated to other forms also.2. What to sell-Another bemusement is the category of items to be offered.According to researches,41 percent of total consumption expenditure goes tothe segment of food and groceriesand it accounts for 77 percent of total retailsales. So it is obvious that this is the mostpreferred section of retailers. Butunfortunately the foible taste bias for wet market (i.e.fresh food availablethrough hawkers) has marred this prospect also. Therefore supply

chainmanagement, storage of fresh perishable foods and persuading the customersthatthe food is inexpensive despite being fresh are genuine challenges to thenewcomers.


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Diversifying the product base to consumer products such asreadymade garments,furnitures, mobiles and computers can mitigate thelosses, if any from food marketingand also broaden the reach to consumers.

31.3. Nostalgia- Indian shopping habits are no different. People tend to attachqualitieslike honesty, fair price, good behavior etc. to shopkeepers with whomthey have been

dealing right from childhood. They find no reason to go to adistant megaspore withoutany genuine reason. This problem is difficult to dealwith as it demands a change inlong-formed mindset. Organized retail outletscan overcome this problem byemploying eligible local peoples who caninteract in vernacular language and win theconfidence of people.4. Information Technology- This is a major problem and Indiamust act fast ifit wishes to create a smooth field for organized retailing. Digitizationof serviceswill make transfer of goods easy and an improvement in supplychainmanagement will definitely play a significant role in attracting moreconsumersand less consumer grievances. Besides, it will generate easier paymentsoptionfor customer and easier money movement for the CEOs of thesehighlydiversified malls.MINOR CHALLENGES1. Human resource crunch- the

concern for insufficient manpower in theindustry has been in news for the last fewmonths. This fear is somehowunfounded. The retail industry according to recentreports is growing at a rate of100 percent. Kishore Biyanis Future Group i.e. the BigBazaar chain of retailoutlet alone provides employment to more than 18,000 peopleand is planning

32.to expand its employment base to 34,000 by June 2008. If we add to this theforay bymega players like Reliance and Bharti-Walmart then the fear can surelyturn into amisperception. Retailing mainly deals with hard-selling of space,trade of stocks andbuilding of relationships. Since most of the openings are forfront line shop people, agraduation will suffice. Nowadays many institutes alsoprovide post-HSC and post-graduate retail-specific courses.2. Hindrances from government- Some politicalparties want the governmentto amend laws and improve curbs so that the megaplayers cant openlydecimate the unorganized retail sector. This is a conclusion basedon a myopicoutlook and must be amended for a long term strategy. The fear isbaselessbecause of the reasons mentioned above. The mega stores will no doubtprovideemployment to the less educated masses. Also taking business awayespeciallyfrom small food vendors is more easily said than done. Instead thelimitingmove will send wrong signals to the investors and will ward offinvestmentswhen the states need it most. Allowing 51 percent retail FDI in singlebrandretailing is a welcome move in this direction. It is expected that thegovernmentwill create further opportunities for the organized retail to come up as

homegrown investment is always sweeter than foreign investment.33.OTHER CHALLENGES:(1) LOCATION:"Right Place, Right choice"Location is themost important ingredient for any business that relies oncustomers, and is typicallythe prime consideration in a customers store choice.Locations decisions are harder tochange because retailers have to either makesustainable investments to buy anddevelop real estate or commit to long termlease with developers. When formulatingdecision about where to locate, theretailer must refer to the strategic plan:* Investigatealternative trading areas.* Determine the type of desirable store location* Evaluatealternative specific store sites 2) MERCHANDISE: The primary goal of the mostretailers is to sell the right kind of merchandise and nothing is more 1.11 RetailChallengecentral to the strategic thrust of the retailing firm. Merchandising consists

ofactivities involved in acquiring particular goods and services and makingthemavailable at a place, time and quantity that enable the retailer to reach its goals.


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34.Merchandising is perhaps, the most important function for any retailorganization, as itdecides what finally goes on shelf of the store.3) PRICING:Pricing is a crucialstrategic variable due to its direct relationship with a firmsgoal and its interaction withother retailing elements. The importance of pricingdecisions is growing becausetodays customers are looking for good valuewhen they buy merchandise and services.

Price is the easiest and quickestvariable to change.4) TARGETAUDIENCE:"Consumer the prime mover""Consumer Pull", however, seems to be themost important driving factorbehind the sustenance of the industry. The purchasingpower of the customershas increased to a great extent, with the influencing the retailindustry to a greatextent, a variety of other factors also seem to fuel the retailingboom.5) SCALE OF OPERATIONS:Scale of operations includes all the supply chainactivities, which are carried outin the business. It is one of the challenges that theIndian retailers are facing.The cost of business operations is very high in India.

35.SOME PUBLISHED ISSUE OF RETAIL INDUSTRY The retail industry isexpected to grow into a USD 427 billion industry by 2010- FICCI Indias retailindustry, which is in the middle of rapid growth, has already scripted success stories

fit to be the subject of a Bollywood film-Business Standard The impact of organizedretailers that have seen swarming of malls lately, on the mom-n-pop stores in 20Indian cities- Indian Council of Research in International Economic Relations

(ICRIER) Modern Retailing Comprehensive policy vital- The Hindu Retail boomtriggers ancillary industry growth- The Times of India

36.Part 1.4 PAST/ PRESENT/ FUTURE OF RETAIL INDUSTRY Before the decade ofeighties, India with hundreds of towns and citieswas a nation striving fordevelopment. The evolution was being witnessed atvarious levels and the people ofIndia were learning to play different roles asbusinessmen and consumers. Retail-which literally means to put on the market, is a very importantaspect of every city.

Without a well organized retail industry we would not haveour necessities andluxuries fulfilled. Be it our daily groceries or fashionaccessories and everything inbetween, retail industry brings us the blissfulexperience of shopping. Thoughorganized retailing industry began much earlierin the developed nations, India had notactively participated. However with itsvast expanse and young population, India inthe 21st century emerges as ahighly potential retail market. The journey of retailing inIndia has been rivetingand the future promises further growth. Here is a completepicture decipheringthe past, present and future trends of Indian Retail Market. It iswidely accepted that the retail industry has undergone a drasticchange in last fiveyears and there is yet more to come. Let us compare theimage of Indian retailing in2004-05 to that of its status in 2007-08 in thefollowing table:

37.Magnification of the Indian Retail Industry Yardstick Situation in 04-05 Situation in07-08Value of retail sales Rs. 10,20,000 crore Rs 12,00,000 croreAnnual growth rate5% 5.7%Value of organized market Rs 35,000 crore Rs 55,000 croreShare oforganized market in the 3.4% 4.6%sectorForecasts (after 5 years) about Over Rs.1,00,000 Rs. 2,00,000 croresize of organized retail market croreForecasts aboutgrowth rate of Around 30% Around 40%organized retail market 1.4 Comparison ofRetail IndustryThe above table clearly shows that the retail market as well as themindsetrequired for it has experienced a thorough revisal in the last three years. Thisisjust the beginning and Indians are sanguine that the sector will see rosy days inthefuture. This confidence has helped India acquire the No.1 position among 30mostattractive retailing destinations in the world according to the Global

RetailDevelopment Index of 2005 (by AT Kearney, India). Among emergingmarkets,India holds the second position after China in the list of most favored


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retaildestinationsPast Retail Industry in India Before the decade of eighties, Indiawith hundreds of towns and citieswas a nation striving for development. Theevolution was being witnessed at

38.various levels and the people of the nation were learning to play different rolesasbusinessmen and consumers. The foundation for a strong economy werebeing laid,

youth were beckoning new awareness in all spheres. And thisbrought in anopportunity for retail industry to flourish. First in the metros andmajor cities later toimpact sub urban and rural market as well.Retailing in India at this stage wascompletely unorganized and it thrived asseparate entities operated by small andmedium entrepreneurs in their ownterritories. There was lack of internationalexposure and only a few Indiancompanies explored the retail platform on a largerscale. From overseas onlycompanies like Levis, Pepe, Marks and Spencer etc. hadentered targetingupper middle and rich classes of Indians. However as more than 50%population was formed by lower and lower middle class people, the market wasnotcompletely captured. This was later realized by brands like Big Bazaar andPantaloonswho made their products and services accessible to all classes ofpeople and today the

success of these brands proves the potential of Indian retailmarket. A great shift thatushered in the Indian Retail Revolution was the eruptionof Malls across all regionalmarkets. Now at its peak, the mall culture actuallybrought in the organized format forRetailing in India which was absentearlier.To your surprise there was not a singlemall in India a decade before andjust a few years ago only a handful of them werestriving, today there are more

39.than 50 malls across different cities and 2 years from now around 500 mallsarepredicted to come up.Present Retail Industry in India At present the Retailindustry in India is accelerating. Though India isstill not at an equal pace with otherAsian counterparts, Indian is geared tobecome a major player in the Retail Market.The fact that most of the developednations are saturated and the developing ones stillnot prepared, India secures agreat position in the international market. Also with ahighly diversedemography, India provides immense scope for companies brining indifferentproducts targeting different consumers.According to the Global RetailDevelopment Index, India is positioned as theforemost destination for Retailinvestment and business development. Thefactor that is presently playing a significantrole here is the fact that a largesection of Indian population is in the age group of 20-34 with a considerablyhigh purchasing power; this has caused the increase in thedemand in the urbanmarket resulting in consistent growth in the Retail business. Andthough the metros and other tier 1 cities continue to sustain Retailgrowth, the buzz hasnow shifted from these great cities to lesser known ones.As the spending power is no

longer limited to metros, every tier 2 city in thecountry has good market for almostevery product or service. Due to this, tier 2cities like Chandigarh, Coimbatore, Pune,Kolkatta, Ahmedabad, Baroda,

40.Hyderabad, Cochin, Nagpur, Indore, Trivandrum etc. provide a good platformfor abrand to enter Indian market.However there are a few precautions for every brand thatexplores Indianmarket. As Indian consumers are very curious and have a broadperspective,they respond well to a new product or concept and there are very fairchances ofa brand surviving well, but every Indian consumer be it an urbanite or asmalltown dweller needs a feeling of value for money. Although labeled as tightfisted,Indian consumers are great spenders once they realize that they aregetting value fortheir money. Also new product /service concepts from thewestern world are better

adopted first by the urban Indians, the smaller marketsrespond well to the need basedretailing rather than luxury concepts. As the Indian retailing is getting more and more


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organized various retailformats are emerging to capture the potential of the market.*Mega Malls* Multiplexes* Large and small supermarkets* Hypermarkets*Departmental stores are a few formats which flourishing in the both big and smallregional markets.As the major cities have made the present retail scenario pleasant,the future ofthe Indian Retailing industry lies in the rural regions. Catering to

theseconsumers will bring tremendous business to brands from every sector.41.However as the market expands companies entering India will have to be

morecautious with their strategic plans.FutureRetail Industry in India According toa study the size of the Indian Retail market is currentlyestimated at Rs. 704 croreswhich accounts for a meager 3 % of the total retailmarket. As the market becomesmore and more organized the Indian retailindustry will gain greater worth. The Retailsector in the small towns and citieswill increase by 50 to 60 % pertaining to easy andinexpensive availability ofland and demand among consumers. Growth in India Realestate sector is also complementing the Retailsector and thus it becomes a strongfeature for the future trend. Over a period ofnext 4 years there will be a retail spacedemand of 40 million sq. ft. Howeverwith growing real estate sector space constraint

will not be there to meet thisdemand. The growth in the retail sector is also caused bythe development ofretail specific properties like malls and multiplexes. According to areport, from the year 2003 to 2008 the retail sales aregrowing at a rate of 8.3% perannum. With this the organized retail whichcurrently has only 3% of the total marketshare will acquire 15-20 % of themarket share by the year 2010. Factors that areplaying a role in fuelling the bright future of the IndianRetail are as follows:

42. The income of an average Indian is increasing and thus there is a proportionalincrease in the purchasing power. The infrastructure is improving greatly in allregions is benefiting the market. Indian economy and its policies are also becomingmore and more liberal making way for a wide range of companies to enter Indian

market. Indian population has learnt to become a good consumer and all nationaland international brands are benefiting with this new awareness. Another greatfactor is the internet revolution, which is allowing foreign brands to understand Indianconsumers and influence them before entering the market. Due to the reach of mediain the remotest of the markets, consumers are now aware of the global products and ithelps brands to build themselves faster in a new regionHowever despite these factorscontributing to the growth of Indian retailIndustry, there are a few challenges that theindustry faces which need to bedealt with in order to realize the complete scope ofgrowth in Indian market.Foreign direct investment is not allowed in retail sector,which can be a concernfor many brands. But Franchise agreements circumvent thisproblem. Alongwith this regulations and local laws and real estate purchase

restrictions bringup challenges. And with Good Planning, Timely Implementation anda mediacampaign that touches Indian consumers any brand can go far ahead intheIndian Retail Revolution.

43.IMPACT OF RETAIL INDUSTRY IN GLOBAL WORLD Organized retailing isspreading and making its presence felt in differentparts of the Country. The trend ingrocery retailing however, has been slightlydifferent with a Growth concentration inthe South. Though there wastraditional family owned retail Chains in South Indiasuch as Nilgiris as earlyas 1905, the retail revolution happened With the RPG groupstarting the Foodworld chain of food retail outlets in South India With focus onChennai,Hyderabad and Bangalore markets, preliminarily. The Experiment hasreapedrich dividends and the group is now foraying into other Territories as well

as.Owing to the success of Food world model of RPG group, several new modelssuchas Trinethra, Subhiksha, Margin Free and others have made their forayinto this sector


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albeit at regional levels. Today the food retail sector in India isabout Rupees TenLakh Crores (USD 200 billions) of which the organized foodretail segment is about 1per cent and increasing at a pace of over 20% year toyear. To be successful in foodretailing in India essentially means to draw awayshoppers from, the roadside hawkersand Kiranas stores to supermarkets. Thistransition can be achieved to some extent

through pricing, so the success of afood retailer depends on how best he understandsand squeezes his supplychain. The other major factor is that of Convenience shoppingwhich thesupermarket has the edge over the traditionalKiranas Stores. On an averagea

44.supermarket stocks up to 5000 SKUs against few hundreds stocked at anaverageKiranas stores. Though with excellent potential, India poses a complex situation foraretailer, as this is a Country where each State is a mini-Country by itself.Thedemographys of a region Vary quite distinctly from others. In order to appealtoall classes of the society, retail Stores would have to identify with differentlifestyles.Hence we may find more of Regional players and it would takeenormously long timebefore nation wide successful Retail chains emerge. Thisis the main reason as to why

the successful retail chains in the Countries todayoperate at regional segments onlyand are not aiming at nation wide Presence, atleast for the time being. In theorganized retail industry, the gestation periods are long,institutional funding isDifficult, and there is none or little Government support.But the belief among topRetailer chains in the country is that the industry willsee large investments comingonce. The current ban on foreign directinvestment is lifted. But that could be two-three years Away. Food and groceryretailing is a tough business in India with marginsbeing very Low andconsumers not dissatisfied with existing shops where they buy.For example, thenext-door grocery shopkeeper is smart and delivers good customerservice,though not value.

45.As of now, while Chennai has about five organized food and grocery retailchains,other big cities such as Delhi, Bangalore, and Mumbai average onlytwo-three suchchains. Almost all food retail players have been region-specific as far as geographicalpresence is concerned in the country. Toillustrate with examples, the RPG GroupsFood World, Nilgiris, Margin Free,Giant, Varkeys and Subhiksha, all of which aremore or less spread in theSouthern region; Sabka Bazaar has a presence only in andaround Delhi; namessuch as Haiko and Radhakrishna Food-land are Mumbai-centric;while Adani isAhmedabad-centric. Industry topography in India is such thatspreadingpresence across cities is a tough call. As pointed out by many experts,organizedfood and grocery retailing chains going national requiressignificantinvestments. Retailing within this sector is not just about the front-end,

butinvolves complex supply chain and logistics issues as well. The trend and mindsetof the present retailer chains in India can be bestunderstood by studying Food-Worldas an example, which came in first in thefood and grocery retailing sector. The chainhas no plans to venture beyond theSouthern region just yet. Current plans are to focuson the Southern markets andachieve saturation. The intention is that by 2005, theycould look at the otherregions. Subhiksha, a Chennai based discount chain, too wantsto be theprincipal store of purchase for at least 40 per cent of all consumers livingwithin

46.500-750 meters of the store, that is, within walking distance. This makes thepoint veryclear that the strategy among most existing retail chains of variousformats is tocompletely saturate the markets where they are already establishedplayers and then

move on to virtually untouched areas where the challenge ofsourcing resources andextending their supply chain model to best suit the sizeand expanse of the market


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would be a challenging task. Meanwhile, the RPG group plans to take its new formatssuch as GiantHypermarkets national over the next three years. Grocery is a largecomponentof this format, but not the only one. To elaborate on the hurdles of goingpan-Indian, fundamentally, the way a basic grocery retailing model works is thatthehigh set-up costs in terms of setting up buying/ distribution infrastructure

isgradually amortized over a larger number of stores. The back-end costswithoutdistribution centre costs, or what in retail jargon is called retailadministrationcosts, should stabilize at around 2.5 per cent to 3 per cent of sales.

47.Part-1.5 There are many problems face by Retail industry in Indian Market. They arefollowing:-The format does not suit rural India: While the format suits the urbanareas,it does not suit the rural areas in a country like India. Today, in Indian,organizedretailing is confined to class A cities, the 23 largest cities. About 82per cent oforganized retailing comes form the top six cities and another 12percent from the nextfour. Thus, the top 10 cities account for 94 per cent of allorganized retailing in India.The scattered location of consumers has been themain deterrent to the rapid spread ofthe idea in the rural areas.Purchasing patterns not very conducive: Even in urban

centers, thepurchasing patterns of the Indian consumers differ form those ofwesterners.Whereas in the west, the purchases are spread better over the month, inIndia.Purchases are by and large made in the first week of the month. Theirsperhapshas a correlation to patterns of payment of wages; Purchasing patternsdifferalso because of the difference in the eating habits of people.Inadequate growthof brands: Inadequate growth of brands is another factor,In India, branding wasalmost not-existent in convenience products untilrecently; this has naturally inhibitedretailing through sophisticated chains.Supply chain problems: As suppliers are notproperly organized in the country,replenishment of stock poses problems for largechains. Source developmentalso poses special problems.Being family businesses,retailing enterprises have limitation in expansion;Yet another reason for the slow pickup of mega retailing idea in India is that all

48.along retail enterprises have been family concerns. And, family businessesusuallyhave a limitation in expansion,Example of Viveks; The Viveks (Formerly Viveks &Co. ) of Chennai, is anexample. For the past several years, it remained rather smallbecause of itsfamily character. During the three decades from 1965 to 1995, it had justthreeshowrooms. It was a family concern and remained for a long time, a singlestoreoutfit, managed by the father and assisted by his three sons. Once the fathergrewold, the sons started managing the business, and because there were threesonsengaged in the business, the enterprise went in for three showrooms. Inrecent years,however, it has emerged as a major chain, as it has shed its familybusiness character,

now it is actually the largest consumer durable chain in thecountry. It has big salesvolumes and multiple locations.Real estate problems; Real estate is an integralrequirement of large scalechain store operation. One needs a large number of stores ineach city to achieveoptimum scale. Also, big chains have to operate in several cities.Real estatethus becomes crucial. That is why groups that have been in real estate andhotelbusinesses are more comfortable in branching off into retailing. Fro otherfirms,real estate development are a problem; they don not command property inprimelocations.

49.Other Limitation of Retail Industry The organized retail industry in India is facedwith stiff competition from the unorganized sector. There is a shortage of qualityreal estate and infrastructure requirements in our country. Opposition to Foreign

Direct Investment from small traders affects retail industry. A very high stamp dutyon transfer of property affects the industry. Shortage of retail space in central and


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downtown locations also hinders the growth of retail industry. Presence of strongPro-tenancy laws makes it difficult to evict tenants and this is posing problems.Land-use conversion is time consuming and becoming complex. For settlingproperty disputes, it consumes lot of time. Non residents are not allowed to ownproperty except they are of Indian origin. Inadequacies in infrastructure such as lackof high quality road networks, power shortages and insufficient storage spaces Theretail industry loses to the tune of US$120 to US$130 million every year in frauds,thefts and employee pilferage, shop lifting, vendor frauds or inacc urate supervisiondespite using standard and modern security features.

50.Part 1.6 SOURCE OF DATADatas are the useful information or any forms ofdocument designed in asystematic and standardize manner which are used for somefurtherproceedings. One of the important tools for conducting marketing researchisthe availability of necessary and useful data. Some time the data are availablereadilyin one form or the other and some time the data are collected afresh. Thesources ofData fall under two categories, Primary Source and SecondarySources.Primary Data-

the primary data was collected through the followingactivities:Filled the RetailIndustry related questionnaire to managers of a select group ofcompanies And PaperConversationSecondary Data- the secondary data was collected through thefollowing:Online Research material of the Various Institution/Outlets directly orindirectlyinvolved with Retail Industry, Secondary Data used in External SourceofInformation Like internet, magazine, paper cutting

51.OTHER SOURCE Information Sources Information has been sourced from namely,books, newspapers, trade journals, and white papers, industry portals, governmentagencies, trade associations, monitoring industry news and developments, and through

access to access to more than 3000 paid databases. Analysis Method The analysismethods include the following: Ratio Analysis, Historical Trend Analysis, Linear

Regression Analysis using software tools, Judgmental Forecasting and Cause andEffect Analysis etc.

52.Chapter (2)53.Part 2.1 OPPORTUNITIES OF THE WESTERN RETAILERS IN INDIA The retail

industries in the western countries have reached a point ofsaturation and there is noway of expanding. In this backdrop the retail giantsare trying to make their mark inthe retail market of countries that still haveuntapped potential of expansion. Indiahappens to be one of them. AT Kearneyhas constructed the Global RetailDevelopment Index which has helped thewestern retailers to identify the countries inwhich investments could be made.Opportunities in India have attracted the westernretailers like Wal-Mart,Euroset, and Supervalu who have plans to enter as single

branded retailers. Ingauging whether to enter, the companies keep into account thetiming factor thatis whether the consumers are ready to accept the products that areoffered bythem. It is highly possible that there are potentials in the market buttheconsumer preferences are skewed against the products that are offered.

54.Part 2.2 CONTRIBUTION OF FDI IN RETAILING Permitting Foreign DirectInvestment in the retailing sector can have immensebenefits. It can generate hugeemployment for the semi-skilled as well as illiterate population which otherwise cantbe employed in the already confined rural and organized sector. The retail sector ishighly dependent on the rural sector. Thus it can facilitate the improvement of thestandard of living of farmers by purchasing commodities at a reasonable cost. It alsostems out an indirect employment generation channel by training and employingpeople in the transportation and distribution sectors such as drivers, mechanics etc. Itis also evidentthat real estate is a genuine challenge for organized retailing.


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Traditional retailers can use this situation in their favor by taking franchisees of themega players of this industry. On the other hand, the consumer gains from the widevariety of choices and a more diversified basket of prices available under one roof.Secondly the indirect benefits like better roads, online marketing, expansion oftelecom sector etc. will give a big push to other sectorsincluding the rural one itself.

Last but not the least the huge tax revenue generated from these retail biggies andcollected in government coffers will gradually wipe out the ugly looking fiscal andrevenue deficits. Besides the transaction in foreign currencies by these MNCswillcreate a balance in exchange rate and will bring in stable funds in the economy asopposed to FIIs hot money. This will in turn act as a boost to the developing (ortransforming, as suggested by the USAID) economy of India. Part 2.3 BENEFITS TOTHE INDIAN CONSUMER: One has to agree that the entrance of big players willensure the higherquality of service and produce being sold to the consumers. Thereare otherindirect benefits in terms of choice and pricing that will be passed along totheconsumers as the big retailers will compete with each Other for greater share ofthemarket.

55.Chapter (3)56.Part 3.1 LATEST TRENDS IN RETAIL SECTOR Today, retail in India is huge,

close to $200 billion, of which organizedretail accounts for just $6 billion. This $200billion should become $300 billionin the next five to six years. This is a time whenorganized retailing is justgetting into full steam and the opportunity is huge.Organized retail in India isexpected to grow at 40% for the next five years, thanks tothe nascent stage ofmodern retail and the malling of India. It is expected that by2016 modern retail industry in India will be worthUS$ 175- 200 billion. India retailindustry is one of the fastest growingindustries with revenue expected in 2007 toamount US$ 320 billion and isincreasing at a rate of 5% yearly. A further increase of7-8% is expected in theindustry of retail in India by growth in consumerism in urbanareas, risingincomes, and a steep rise in rural consumption. It has further beenpredicted thatthe retailing industry in India will amount to US$ 21.5 billion by 2010from thecurrent size of US$ 7.5 billion. The retail sector would generate employmentformore than 2.5 million people by the year 2010, says an analysis by MaFoiManagement Consultants Ltd. And A KPMG report says that the organizedretailwould grow at a higher rate than GDP in the next five years

57.Recent Trends & Changes Retailing in India is witnessing a huge revamping exerciseas can be seen in the graph India is rated the fifth most attractive emerging retailmarket: a potential goldmine Multiple drivers leading to a consumption boom: Favorable demographics Growth in income Increasing population of women

Raising aspirations : Value added goods sales 3.1 Retail Analysis Organized retailingin India has been largely an urban phenomenon with affluent classes and growingnumber of double-income households.

58. Rural markets emerging as a huge opportunity for retailers reflected in the share ofthe rural market across most categories of consumption. Companies using their ownweb portal or tie-sups with horizontal players like Rediff.com and Indiatimes.com tooffer products on the web Spencers is also planning to set up 500 more stores byJune 2008 with an investment of nearly US$ 125.89 million DLF plans to investUS$ 4.02 billion over four years to develop about 20 large shopping malls across thecountry Israeli mall developer Plaza Center NV plans to invest US$ 1.25 billion overthe next five-seven years to set up 50 malls3.2 Retail Market in India.Size Reliance

Retail is going ahead with plans worth an investment of US$ 3.77 billion for settingup 205 stores IT is a tool that has been used by retailers ranging from Amazon.com


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to eBay to radically change buying behavior across the globe Experimentation withformats: Retailing in India is still evolving and the sector is witnessing a series ofexperiments across the country with new

59.formats being tested out. Ex. Quasi-mall, sub-urban discount stores, Cash and carryetc Unorganized retailing is getting organized: To meet the challenges of organized

retailing such as large cineplexes, and malls, which are backed by the corporate housesuch as Ansals and PVR the unorganized sector is getting organized. 25 stores inDelhi under the banner of Provision mart are joining hands to combine monthlybuying. Bombay Bazaar and E-food mart formed which are aggregations of Kiranas.Emergence of discount stores: They are expected to spearhead the organized retailingrevolution. Stores trying to emulate the model of Wal- Mart. Ex. Big Bazaar, BombayBazaar, RPGs 3.3 Retail Segments

60.Part 3.2 MAJOR PLAYER OF RETAIL INDUSTRY The Indian retail sector hasbeen euphoria over the last five years. Indiatopped the A.T. Kearneys Global RetailDevelopment Index for twoconsecutive years and this has infatuated Indian as well asforeign retail playersto go gaga on the merchandising track. According to

geographical expansion,Delhi/NCR and Mumbai are the felicitated regions as the topcompanies haverated the spending potential of consumers in the vicinity of thenational capitaland the financial capital as excellent. Other metros such as Kolkata,Chennai,Hyderabad and Bangalore have caught the sight of investors but theirfortunesare yet to be illuminated. Companies like the Future Group, Reliance, Bharti-Walmart, DLF etc. have shown the way for other to enter. The countries areexpectinga surge in the growth sprint and lets hope for the best.Top Companies: An analysisBig Bazaar is a chain of department stores in India, currently with 75 outlets. It isowned bythe Pantaloon Retail India Ltd, Future Group. It works on the sameeconomymodel as Wal-Mart and has considerable success in many Indian citiesandsmall towns. The idea was pioneered by entrepreneur Kishore Biyani, theCEO ofFuture Group. Currently Big Bazaar stores are located only in India.

61.It is the biggest and the fastest growing chain of department store and aims atbeing350 stores by the end of year 2010.It offers all types of household items such as homefurnishing, utensils, fashionproducts etc. It has a grocery department and vegetablesection known as theFood Bazaar and its online shopping site is known asFutureBazaar.com. Thereal estate fund management company promoted by the FutureGroup expects todevelop more than 50 projects across India covering a combined areaof morethan 16 million sq. ft. On April 1 2007, Big Bazaar had to shut its outletsinMumbai as the 120 retrenched employees called a strike with the support ofBhatiaKamgar Sena (the trade Union wing of Shiv Sena). Later themanagement agreed to

reinstate the sacked workers Pantaloon Retail India Ltd, is Indias leading retailcompany with presence across food, fashion,home solutions and consumerelectronics, books and music, health, wellnessand beauty, general merchandise,communication products, E-tailing and leisureand entertainment.Headquartered inMumbai (Bombay), has over 450 stores across 30 cities inIndia and employs over18,000 people. Pantaloon founded by Mr. KishoreBiyani. The company owns andmanages multiple retail formats catering to awide cross-section of the Indian societyand its width and depth of merchandisehelps it capture almost the entire consumptionbasket of the Indian consumer.

62.Founded in 1987, as a garment manufacturing company, Pantaloon Retailforayed intomodern retail in 1997 with the opening up of a chain of departmentstores, Pantaloons.

In 2001, it launched Big Bazaar, a hypermarket chain,followed by Food Bazaar, asupermarket chain. It went on to launch Central, afirst of its kind, seamless mall


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located in the heart of major Indian cities. Someof its other formats include,Collection I (home improvement products), E-Zone(consumer electronics), Depot(books, music, gifts and stationeries), all (fashionapparel for plus-size individuals),Shoe Factory (footwear) and Blue Sky(fashion accessories). It has recently launchedits retailing venture,futurebazaar.com.In Indias chaotic markets, Kishore Biyani is the

unchallenged king of retail. Hehas the knack of catching rivals off-guard and strikingwhere it hurts most. Andnow that hes set himself the task of retaining control of thelargest retail spacein the country, he wont let anyone - suppliers or internationalpromotersincluded - catch him slacking. The latest to face the wrath of the 43-year-old isSouth African hypermarket Shop rite, which opened shop in Mumbai lastmonththrough a franchise agreement with local company Normal Lifestyle.Thehypermarket began retailing products from big boys Nestle, Unilever andProcter &Gamble at consumer discounts of 20-30 per cent, lower than evenBiyanis purchaseprices in his Big Bazaar and Food Bazaar stores.

63.Reliance Fresh is the retail chain division of Reliance Industries of India which isheaded byMr.Mukesh Ambani. Reliance has entered into this segment by opening

newretail stores into almost every metropolitan and regional area of India.Relianceplans to invest Rs 25000 cores in the next 4 years in their retail divisionandplans to begin retail stores in 784 cities across the country. The RelianceFreshsupermarket chain is RILs Rs 25,000 crore venture and it plans to addmorestores across different g, and eventually have a pan-India footprint by year2011.The super marts will sell fresh fruits and vegetables, staples, groceries,fresh juice barsand dairy products and also will sport a separate enclosure andsupply-chain for non-vegetarian products. Besides, the stores would providedirect employment to 5 lakhyoung Indians and indirect job opportunities to amillion people, according to thecompany. The company also has plans to trainstudents and housewives in customercare and quality services for part-timejobs.Reliance Fresh recently (24th Jan, 2007)opened several "Fresh" outlets inChennai, New Delhi, Hyderabad, Jaipur, Mumbai,Chandigarh, Ludhianaincreasing its total store count to 40. Reliance is still testing itsretail conceptsby controlled entry beginning in the southern states

64.Subhiksha is an Indian retail chain with more than 760 outlets selling groceries,fruits,vegetables, medicines and mobile phones. It was started and is managed byMr.R. Subramaniam, IIM Ahmedabad alumni. He also plans to invest Rs.500 croretoincrease the number of outlets to 2000 across the country by 2009.Derived from theSanskrit word, Subhiksham or "giver of all things good", Itopened its first store inThiruvanmiyur in Chennai in March, 1997 with aninvestment of about Rs. 5 lakh. Theretail chain has seen a considerable growthby offering goods at cheaper rates and

there by increasing its customer base. Itis also dubbed as Indias largest retail chain.Vision to deliver consistently bettervalue to Indian consumers, has guided Subhikshato deliver savings to allconsumers on each and every item that they need in their dailylives, 365 days ayear, without any compromise on quality of goodspurchased.Subhiksha now has the pan Indian presence with stores across Delhi,UP,Punjab, Hariyana, Gujarat, Maharashtra, AP, Karnataka and TN. It hasrecentlycommenced operation in Kerala also. Today, it is a multi-location,professionally managed and vibrant organization. Subhiksha now hasevenopened Specialized Mobile shops called Subhiksha Mobile where mobilesaresold at a discounted priceSubhiksha is Indias largest supermarket, pharmacy andtelecom chain. Startedin 1997 as a single store entity in South Chennai, it is now

present nationallyacross 1000 outlets and spread across more than 90 cities. You cannow locate


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65.the nearest Subhiksha store in your area with the Store Locators. ICICIVentureCapital has a 24% stake in Subhiksha. Food world is a chain of supermarketstores. Itwas started in May 1996 as a division of Spencer & Co, a part of theRPGGroup. In August 1999 it became a separate company. Currently it operates89stores in Bangalore, Chennai, Coimbatore, Erode, Hyderabad, Kodai,Pondichery,

Pune, Secunderabad, Salem, Trivandrum and Vellore DLF Retail Developers Ltd. isone of the troikasof the DLF Group. Besides being Indias largest real estatedeveloper, DLF isalso of the leaders in innovating shopping malls in India. It caughtpublic eyewhen it launched the 2, 50,000 sq ft. shopping mall in Gurgaon. It hasbrought adramatic change in the lifestyles and entertainment with its City Centers andDTCinemas. DLF has plans to invest Rs. 2000-3000 crore in all the emergingareasfrom metros to class cities in the next two years. Till last year the companywasinvolved in building 18 malls out of which 10 were in the NCR region.Futureplans of DLF involve opening up of 100 malls (specialty malls, big boxretailingand integrated malls) across 60 cities in next 8-10 years. They areslowly transforminginto lease and revenue share models.Local players like ITC, the A.V. Birla Group and

Tatas have given the hints to66.enter organized retail. Frances Carrefour SA and Britains Tesco too wererecently in

news for their future plans to explore the Indian retail market Bharti Retail, a whollyowned subsidiary of Bharti Enterprises. Has announced two joint ventures(JV)withthe international retailing behemoth, Wal-Mart. The first JV ensures cashandcarry business, in which 100 percent FDI is permitted and it can sell onlytoretailers and distributors. The second JV concerns the franchise arrangement.SunilMittal, Chairman of the Bharti Group assured that the ventures will uselow pricesevery day and best practices for the satisfaction of the customer.Processed fo odsand vegetables will be delivered by Bharti Field Fresh, BhartisJV with Rothschild.Bharti Retail aims to foray every city with a populationexceeding 1 million. It hasplans to come up with an investment of more than $2billion in convenience stores,supermarkets and hypermarkets spread over anaggregate 10 million sq. ft. Theexpansion drive looks ambitious but analystsare worried that Bharti may face stiffcompetition from Pantaloon and Relianceas they too have sanguine plans to flood themarkets with thousands of retailoutlets in the coming five years. Bharti Telecom alsohas plans to offer all itsfixed and mobile telecom products and services from a singlewindow to theSMB (Small and Medium Business) enterprises under the BhartiInfoteldivision...

67.Lifestyle is part of the Landmark Group, a Dubai-based retail chain. With over 30yearsexperience in retailing, the Group has become the foremost retailer in the

Gulf.Positioned as a trendy, youthful and vibrant brand that offers customers awidevariety of merchandise at exceptional value for money, Lifestyle beganoperationsin 1998 with its first store in Chennai in 1999 and now has 13Lifestyle stores, 5 HomeCenters and 1 Baby shop store across Chennai,Hyderabad, Bangalore, Gurgaon,Delhi, Mumbai and Ahmedabad.Business World-IMRB Most Respected CompanyAwards Survey has ratedLifestyle as the Most Respected Company in the RetailSector in 2003 and2004. Lifestyle has also been awarded the ICICI-KSA TechnopakAward forRetail Excellence in 2005, the Reid & Taylor Retailer of the Year Awardfor2006 and more recently, the Lycra Images Fashion Award for the MostAdmiredLarge Format Retailer of the Year in 2006 The foundation of Shoppers Stopwas laid on October 27, 1991 by the K. Raheja Corp. group of companies Shoppers

Stop aims to position itself as aglobal retailer. The company intends to bring theworlds best retail technology,retail practices and sales to India. Currently, they are


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adding 4 to 5 new storesevery year with an immense amount of expertise andcredibility, Shoppers Stop

68.has become the highest benchmark for the Indian retail industry Shoppers Stopin theonly retailer from India to become a member of the prestigiousIntercontinental Groupof Departmental Stores (IGDS).With its wide range of merchandise, exclusive shop-

in-shop counters ofinternational brands and world-class customer service, ShoppersStop broughtinternational standards of shopping to the Indian consumer providingthem witha world class shopping experience. The stores offer a complete range ofappareland lifestyle accessories for the entire family. From apparel brandslikeProvogue, Color Plus, Arrow, Levis, Scullers, Zodiac to cosmetic brandslikeLakme, Chambor, Le Teint Ricci etc., Shoppers Stop caters to everylifestyleneed. Shoppers Stop retails its own line of clothing namely Stop, Life,Kashish,Vettorio Fratini and DIY. The merchandise at Shoppers Stop is sold at aqualityand price assurance backed by its guarantee stamp on every bill. Theirmotto:We are responsible for the goods we sell. Vishal Mega Mart is one of fastestgrowing retailing groups in India. Its outlets cater to almost allprice ranges. The

showrooms have over 70,000 products range which fulfills allyour household needs,and can be catered to less than one roof. It is coveringabout 1996592 lac sq. ft. in 18states across India. Each store gives youinternational quality goods and prices hard tomatch. The cost benefits that isderived from the large central purchase of goods andservices is passed on to the

69.consumer the group had a turnover of Rs. 1463.12 million for fiscal 2005, under thedynamic leadership of Mr. Ram Chandra Aggarwal. The group had of turnover Rs2884.43 million for fiscal 2006 and Rs. 6026.53 million for fiscal 2007.the groupsprime focus is on retailing. The Vishal stores offer affordable family fashion at pricesto suit every pocket. Welspun Retail Limited (W.R.L.) was established in 2003 as apart of Welspun Group, one of the fastest growing business conglomerates in India.Welspun is a U.S. $1 billion group, into diverse businesses, industries, regions andhas six companies under the umbrella brand. Our International Home TextilesCompany; Welspun India Limited (W I L) launched its Indian retail division, WRLwith an aim to capture the Home Textiles market in 2003. The Retail brands,SPACES- Home & Beyond has carved its niche with its fashion driven model in thecountrys major metros, while Welhome targets a larger audience with its value formoney model. The turn over of the Retail division stands at 100 crore, expected to

double in the next 5 years Key Differentiating Attributes W.R.L. is the first Retailerof soft furnishing for "Home" in India. W.R.L. has two models that cater to both, theaspiration clientele and the value for money conscious clientele. Launched Spaces -

Home & Beyond and Welhome (Welspun Factory Outlet) in the same year.70. Phenomenal growth anticipated in FY 2007-08. Design Studio ranks amongst the

best in the country. Panel of International Designers for the new collections. Offerspecialized products at affordable prices, Bed sheets starting at Rs. 199, towelsstarting at Rs. 79 and Curtains starting at Rs. 99 Trent is the retail arm of the TATAgroup. Started in 1998, Trent operates Westside, one of the many growing retailchains in India. The foresight of the TATA Group, which invested in retail relativelyearly, is paying high dividends as retail is one of the booming sectors in India. Thecompany has a turnover of Rs. 357.6 crores (FY 2005-2006) and currently operates 22stores in the major metros and mini metros of India. An international shoppingexperience, a perception of values, and offering the latest styles, has created a loyal

following for Westsides own brand of merchandise. Westside was named the MostAdmired Large Format Retail Chain of the Year by the Lycra Images Fashion Awards


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2005.Westside operates stores in Mumbai, Ahmedabad, Bangalore, Delhi, Chennai,Kolkata, Hyderabad, Pune, Surat, Vadodara, Indore, Noida, Gurgaon, Ghaziabad,Mysore, Jaipur, Lucknow, Nagpur.

71.Wal-Mart Stores, Inc. is an Americanpublic corporation that runs a chain of large,discount department stores. It isthe worlds largest public corporation by revenue,

according to the 2007 FortuneGlobal 500. Founded by Sam Walton in 1962, it wasincorporated on October31, 1969. It opened its home office and first distributioncenter in Bentonville,Arkansas. It had 38 stores operating with 1,500 employees andsales of $44.2million .Wal-Mart is the largest grocery retailer in the United States,withan estimated 20% of the retail grocery and consumables business, as well asthelargest toy seller in the U.S., with an estimated 22% share of the toy market.Wal-Mart is the largest private user of electricity in the US. Owns a subsidiaryelectriccompany in Texas, and will possibly move into the power business. It isalsoundertaking a number of environmentally conscious initiatives to reduceenergy usageand waste. Wal-Mart operates in Mexico as Walmex, in the UK asASDA, and inJapan as Seiyu. It has wholly-owned operations in Argentina,Brazil, Canada, Puerto

Rico, and the UK. Wal-Marts investments outside NorthAmerica have had mixedresults: its operations in South America and China arehighly successful, but it sold itsretail operations in South Korea and Germanyin 2006 after sustained losses. OnSeptember 12, 2007, Wal-Mart introducednew advertising with the slogan, "SaveMoney Live Better," replacing the"Always Low Prices, Always" slogan, which it hadused for the previous 19years. Global Insight, which conducted the research thatsupported theads, found that Wal-Marts price level reduction resulted in savings for

72.consumers of $287 billion in 2006, which equated to $957 per person or $2,500perhousehold 3.1 World-Wide Retailers Carrefour SA is a French internationalhypermarket chain, with a global network of outlets. The groupwas created by MarcelFournier and Denis Deffore in 1957. It is the secondlargest retail group in the world interms of revenue after Wal-Mart. Carrefouroperates mainly in Europe, Brazil,Argentina, Dominican Republic andColombia, but also has shops in North Africa andAsia. Carrefour means cross-road in French. Carrefour is active in many types ofretail distribution:hypermarkets, supermarkets, Discount Store, Grocery Stores,Cosmetics, andCash & Carry. Recently The $130 billion French retail Carrefour hasset up a100 percent-owned arm to enter the wholesale merchandise business inIndiaand will opt for the franchising route to open multi-brand retail stores in the

73.country, Carrefour WC&C India will also enter these areas where theIndianfranchisee can get the same technical expertise that go into running theretailtrade stores of the French company across the globally. The Kroger Co. is an

American retail supermarket chain and parent company, founded by Bernard HenryKroger in 1883 in Cincinnati, Ohio. It reported over US$66 billion insales duringfiscal year 2007 and is currently the second-largest grocery retailerin the country byvolume and third-place general retailer in the country, withWal-Mart and The HomeDepot filling slots one and two, respectively. Krogeroperated, either directly orthrough its subsidiaries, 2,500 grocery stores, 579 ofwhich had fuel centers, nearly800 convenience stores, 400-plus jewelry stores,and 42 manufacturing facilities in 32states; we employ a growing family ofmore than 290,000 associates coast-to-coastand presently Kroger is active inmany other Retail Distribution like Bakery, Banking,

beer, dairy, wine etc.The slogan of Kroger co. is Right Store. Right Place.Krogers recentlylaunched Perishable Donations Partnership will bring critically

neededperishable food items into the food bank process. The company-wideprogramwill increase the number of stores in the Kroger family that donate


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safe,perishable food to Second Harvest food banks that are equipped to safelyhandleand distribute fresh food. Krogers goal is to donate 50 million poundsofnutritious, fresh food across the country.

74.Latest News of Retail Market in India Israeli Giants Enter Indian Retail SectorIsraeli mall giants, owners of retail-linked realty assets across the world,are buying

into Indias money minting retail sector. Tel Aviv-based mall giantGazit Globe hastied up with one of the HDFC funds to pump in $150 millioninto developing assets,including supermarket anchored retail play. BigShopping Group, of Israels biggieshas teamed up with Lehman Brothers RealEstate Private equity to set up open mallsin tier I and tier II cities.Israeli tycoons and families, which raked in money from corereal estatedevelopments in the US, have turned their attention to retail assets fromSaoPaulo to Macedonia, as mall ownership and management provides attractive20%plus annualised returns in developing markets. Billionair eChaimKatzman, at the helmof Gazit Globe, is no exception as he went on acquiringshopping centers from market

to marketUs Retail Major Kroger Plans Entry into Indian Real Estate The $66-billion US based grocery giant, Kroger is all set to enter intoReal Estate India.

According to reports, the company representatives havealready met 3-4 prominentreal estate companies of India for joint ventures.Some prominent sources said thatKroger is primarily interested in jointlydeveloping new FDI-compliant commercialprojects or buying into existingones. Interestingly, America No. 3 general retailerbehind Wal-Mart and TheHome Depot runs all its nearly 2,500 supermarket stores inthe US

75. Reliance Retail plans to turn Adani outlets into specialtyStores Reliance Retail willbe changing the format of its recently purchasedAdani Retail stores into specialtystores for jewelry, medicines, eyeglasses,home furnishings, telecom and consumerelectrical stores. The company hasalso taken in some of the executives onto its own

team. According to a seniorexecutive, the stores cannot be converted to RelianceFresh stores as they aretoo small, ranging from 2,000-3,000 sq ft, while most Reliance

Fresh stores arearound 4,000 sq ft in size.Source: The Economic Times PantaloonRetail pulls out from Gini & Jony Pantaloon Retail India Ltd (PRIL) has officially

pulled out of Gini & Jony, a childrens wear brand and one of the first brands thatKishore Biyani, MD of Pantaloon had invested in. Sources report that while thefinancial arrangement with Gini & Jony will continue, it will break off all operationalties. Pantaloon had invested in the company with the thought that it would drive

business on its own but unfortunately, it has not been able to work in a cohesivemanner with Pantaloon and become dependant on it. Ultimately Pantaloon had toeven depute top management, including the CFO to take care of its functioning.

Source: The Economic Times76.Chapter (4)77.MAJOR FINDINGS(1) The Retail Sector in India can be split up into two, the

organized and theunorganized. The organized sector whose size is expected to tripleby 2010can be further split up into departmental stores, supermarkets,shoppingmalls.(2) In terms of value the size of the retail sector in India is $300billion. Theorganized sector contributes about 4.6% to the total trade.(3) The retailsector in India contributes 10% to the Gross Domestic Productand 8% to theemployment of the country.(4) In terms of growth the FMCG retail sector is thefastest growing unit andthe retail relating to household care, confectionery etc, havelagged behind.(5) The foreign retail giants were initially restricted from

makinginvestments in India. But now FDI of 51% is permitted in India onlythroughsingle branded retail outlets. Multi brand outlets are still beyondtheir reach. Again


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they can only enter the market through franchisees,. Thiswas how Wal-Mart hadentered joining hands with Bharti Enterprises.(6) On line retailing is still to leave amark on the customers due to lacunaethat we have already mentioned.(7) Cultural andregional differences in India are the biggest challenges infront of retailers. This Factordeters the retailers in India from adopting asingle retail format.

78.(8) Hypermarket is emerging as the most favorable format for the timebeing in IndiaChapter (5) CONCLUSION79.For a start, these retailers need to invest much more in capturing morespecific market.

Intelligence as well as almost real-time customer purchasebehavior information. Theretailers also need to make substantial investment inunderstanding/acquiring someadvanced expertise in developing more accurateand scientific demand forecastingmodels. Re-engineering of product sourcingphilosophies-aligned more towardscollaborative planning and replenishmentshould then be next on their agenda. Themessage, therefore for the existingsmall and medium independent retailers is toclosely examine what changes aretaking place in their immediate vicinity, and analyzeWhether their currentmarket offers a potential redevelopment of the area into a more

modern multi-option destination. If it does, and most commercial areas in India dohave thispotential, it would be very useful to form a consortium of other suchsmallretailers in that vicinity and take a pro-active approach to pool in resourcesandimprove the overall infrastructure. The next effort should be to encourageretailersto make some investments in improving the interiors of their respectiveestablishmentsto make shopping an enjoyable experience for the customer. As the retail marketplacechanges shape and competition increases, thepotential for improving retailproductivity and cutting costs is likely to decrease.Therefore, it will become importantfor retailers to secure a distinctive positionin the marketplace based on value,relationships or experience.

80.Finally, it is important to note that these strategies are not strictly independentof eachother; value is function of not just price, quality and service but can alsobe enhancedby Personalization and offering a memorable experience. In fact,buildingrelationships with customers can by itself increase the quality ofoverall customerexperience and thus the perceived value. But most importantlyfor winning in thisintensely competitive marketplace, it is critical to understandthe target customersdefinition of value and make an offer, which not onlydelights the customers but alsois also difficult for competitors to replicate. 3.4 Retail Touches Economy

81.Chapter (6)82.V S Ramaswamy, S Namakumari Marketing Management, Macmillan Business

Book, Delhi Philips Kotler Marketing Management 11th Edition, Eastern

Economy EditionRamanuj Majumdar Product Management In India 2nd Edition,Eastern Economy Edition. Christopher Lovelock Service Marketing 5th Edition,Pearson Education Dr. S L Gupta Sales & Distribution Management, ExcelBooks Business and Marketing Magazine 4ps Business & Marketing BusinessMagazine Business Today Changing Consumer Interface of Market DrivenInnovations- Report by Tarun Arora, Bharti Retail Retail Industry -Where doesIndia stand?- Report by Sanjeev Kumar, Delamore Consulting Ltd. RetailScenario in India-Unlimited Opportunity- Report by CIIRetail Outlook for China2005- Report by KPMG in Hong Kong,Global Powers of Retailing 2006- Reportby Stores Magazine, National Retail Federation (NRF) The Great Indian Retail

Story Report by Ernst & Young India Indian Retail Industry- Report bywww.Rocsearch.comGlobal Retail Industry Facts and Figures- Report by UNEP


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83. http://www.indianretalling.com http://www.pantaloon.comhttp://www.financialexpress.com http://www.thehindubusinessline.comhttp://www.channeltimes.com http://www.cxotoday.comhttp://www.indiainbusiness.nic.in/ http://www.deloitte.co.ukhttp://www.rncos.com http://www.researchandmarkets.com/reports/323895http://timesofindia.indiatimes.com/articleshow http://www.retailspice.comhttp://www.MarketResearch.com Special Thanks to:- Wikipedia, the freeencyclopedia.htm http://www.google.comhttp://www.economywatch.com/business-and-economy/retail-industryhttp://www.fibre2fashion.com/industry-articlehttp://rohanrrao.blogspot.com/2007/10/retail-scenario-in-india.html
http://www.indiainbusiness.nic.in/%EF%81%B6http://www.indiainbusiness.nic.in/%EF%81%B6http://www.indiainbusiness.nic.in/%EF%81%B6http://www.researchandmarkets.com/reports/323895%EF%81%B6http://www.researchandmarkets.com/reports/323895%EF%81%B6http://www.researchandmarkets.com/reports/323895%EF%81%B6http://timesofindia.indiatimes.com/articleshow%EF%81%B6http://timesofindia.indiatimes.com/articleshow%EF%81%B6http://timesofindia.indiatimes.com/articleshow%EF%81%B6http://www.marketresearch.com/http://www.marketresearch.com/http://www.economywatch.com/business-and-economy/retail-industry%EF%81%B6http://www.economywatch.com/business-and-economy/retail-industry%EF%81%B6http://www.economywatch.com/business-and-economy/retail-industry%EF%81%B6http://www.fibre2fashion.com

Transformation of Retail in India

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