India is standing on the verge of having the pleasure to hold 2010 Olympic Games .Its retail business meter shows only about 4% organized retail in India. It means that a whopping 96% market is yet to be captured by entrepreneurs. Retail will grow more. India will be making waves in trends that will be used as benchmark in the whole world. Retail in India is a booming business .Yet it is said to be in its nascent stage. One can think of what would be the scenario when it would be a mature market, yet the Government seems to have woken up to this reality a little late. It is now stepping up in the retail business with a bang-on approach. The word ‘retail' means to sell or be sold directly to individuals. Retail is India's largest industry, and arguably the one with the highest impact on the population. It is the country's largest source of employment after agriculture, has the deepest penetration to rural India, and generates more than 10percent of India's GDP. However, retailing in India has so far, been mostly in the hand of small disorganized entrepreneurs. It is also India's least evolved industries. In fact, it is not even considered a real industry. The industry suffers from lack of management talent, poor access to capital, unfavorable regulation and denial of access to best practices. The Indian retail industry is only now beginning to evolve in line with the transformation that has swept other large economies. Fifty years of restricting the consumer goods industry, a national mindset which favored denial over indulgence, and a fractured supply chain for agricultural products have all contributed to prevent the development of modern tenants based on scale advancements and consumer preferences.
[...] Through multiple formats and a wide range of categories, Reliance is aiming to touch almost every Indian customer and supplier. Shoppers' Stop Pioneers in organized retailing in India, Shoppers' Stop Ltd., was started by the Rahejas, with the very first outlet being in Mumbai retail area of 4500 sq. ft.) in 1991. It now holds around sq. ft. of retail space from Shoppers' Stop alone. It also has chain of stores in other formats, with Cross words and Shoppersstop.Com under its wings Shoppers' Stop, is a specialty chain of garment and accessory retail stores with outlets in Mumbai, Bangalore, Hyderabad, Jaipur, and New Delhi. [...]
[...] Many more Indian retailers are actively pursuing overseas markets to boost profits There has been a marked rise in establishments that provide a place for people to congregate, such as coffeehouses, tea shops, juice bars, bookshops, and brew pubs. Denver's two Tattered Covered bookstores host more than 250 events annually, from folk dancing to women's meetings. Brew pubs such as New York's Zip City Brewing and Seattle's Trolley man Pub offer tasting and a place to pass the time. The Discovery Zone, a chain of children's play spaces, offers indoor spaces where kids can go wild without breaking anything and stressed-out parents can exchange stories. [...]
[...] In house training is a must for every Shopper's Stop employee, and senior executives have to attend retail management lectures at Narsee Monjee Institute. As per the Asst. Business Manager Mr. Pransanjeet Dutt Barua, at Shopper's Stop (Ansal Plaza), what makes Shopper's Stop different from other stores is the entire experience of shopping, that a customer goes through while shopping at Shopper's Stop.To ensure its reach to its target audience Shopper's Stop engages in advertising on the net, through news papers, TV, radio, banners, hoardings, outdoor displays etc. [...]
[...] Today, the typical customer who shops in a retail outlet compares the time spent at the check-out counter with that at an efficient petrol station, and the smile of the counter-person to that decorating the face of a Jet Airways' crew member. To cope with the new customer, manufacturers have to focus on product quality and brand building. And retailers, in turn, have to focus on the quality of the shopping experience. Internationally, retailing is a large business; you find at least one retailer amongst the top 10 companies in every country. [...]
[...] A number of the major brands have entered the country through licensing agreements with Indian players to capitalize on the opportunities available in the sector. Table 1.6 : International players International Players Retail Ventures In India Landmarc Group, Dubai Lifestyle Chain of Departmental Stores Metro, Germany Hypermarket Shoprite, South Africa Supermarket, Hypermarket Walmart,US Supermarket Marks & Spencer, UK Apparel Retailer Mango, Spain Apparel Retailer McDonalds, USA Food Retailer Dominos USA Food Retailer Tricon Restaurant, USA Food Retailer Source: Industry Reports INFORMATION TECHNOLOGY IN RETAIL Over the years as the consumer demand increased and the retailers geared up to meet this increase, technology evolved rapidly to support this growth. [...]
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