CHAPTER I

INTRODUCTION

The discipline of marketing came in to existence over a period of time. Its evolution

can be traced from Barter system from which it transformed in to Production concept,

Product concept, Selling concept, Marketing concept, and then Societal concept

followed by Relationship marketing and today we are in the era of Customer

Experience. If we analyse all the phases of this advancement procedure it can be seen

that the core of the evolution process has been the Consumer, Consumer and

Consumer. And the needs of these consumers are satisfying ultimately through the

retailers who are providing either goods or services. For individuals living in metros,

large or small cities, retailing is a commonplace sensation on the grounds that there

are number of business sectors, diverse sorts of shops and numerous shops contending

themselves for offering comparable products. Indeed even a vegetable business is

retail business. Retail business is seen more in unorganised form in rural areas and

isolated habitats as the limited shop available there sells most of requirements of the

local people. But, still they are doing retailing.

Historically, retailing had been continuing with the development of a civilised society.

Prior scattered shops of various types of good or service providers were there.

Presently retailing has been a state of an organised business where a hypermarket or

supermarket is as large as business sector of small city and is embodies various types

of product and service providers. It may have augmentation to other part of city or

even in cities i.e. chain of stores.

Retail comprises of the sale of goods or merchandise from a settled area, for example,

a department store, boutique or kiosk, or by mail, in little or individual lots for direct

consumption by the buyer (Sachin Bhardwaj, 2011).Delivery of consumable

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products or where the needs of large number of individual including public utility

such as electric power are served by service provider are incorporated in retailing. The

expression ‗retail‘ is derived from the French word ‗retailer‘ signifying to ‗to cut a

piece off‘ or ‗to break bulk‘. Retail is also characterised as a deal for final

consumption in contrast to a sale for further sale or processing (i.e. wholesale), a sale

to the ultimate consumer.

Retailing is the last connection that unites the individual consumer with the

manufacturing and distribution chain. A retailer is involved in the act of selling goods

to the individual consumer at edge of benefit. Itincludes exercises where by product or

services are sold to end user in small quantities. Direct offering of goods or services

are included in retailing. This excludes direct interface between the producers and

institutional buyers for example the government and different customers. In

commerce, retailers purchase goods or products in large quantities from manufacturer,

or importer, either directly or through a wholesaler, and afterwards sell smaller

quantity to the end user. So, retailer is an individual who stocks merchandise and is

involved in the act of selling those goods to the individual consumer with some profit

margin. Hence retailers are towards the end of supply chain. Retail establishments are

often called Superstores. Procedure of retailing has been observed as important piece

of general dispersion technique by the producers. Shops may be on residential streets,

shopping lanes with few or no houses or in a shopping mall.

Terminology of Retail Business

Various terminologies related to retail are used in the study. The descriptions of those

are here as under:

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Anchor Store: It is a major retail store used to drive business to smaller retailers that

physically surround it. These department stores or grocery stores large in size are

generally part of a retail chain and are the prominent business in a shopping mall.

Attrition rate: A factor, normally expressed as a percentage, reflecting the degree of

losses of personnel or materiel due to various causes within a specified period of time.

Bar Code Reader:A barcode reader (or barcode scanner) is an electronic device that

can read and output printed barcodes to a computer. Like a flatbed scanner, it consists

of a light source, a lens and a light sensor translating optical impulses into electrical

ones.

Barter: An exchange of products and/ or services for other products and/ or services;

some firms use it to minimise cash purchases.

Brick and Mortar: Brick-and-mortar store are retail shops with permanent physical

locations.

Cash and Carry Wholesaler: A form of wholesale that sells products on the spot,

usually with cash only, to a purchaser who is then able to self-carry the products out

themselves without having to wait for any time in between purchasing and delivery.

Catchment Area: The geographical area from which trade to a store or centre is

attracted; the primary catchment area defines the area from which the vast majority of

shoppers (80-90%) tend to use a particular store or centre in preference to other stores

or centres.

Category Killer: A large retail chain store that is dominant in its product category.

This type of store generally offers an extensive selection of merchandise at prices so

low that smaller stores cannot compete.

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Chain Store: One of a number of retail stores under the same ownership and dealing

in the same merchandise.

Coupon: A promotional tool in the form of a document that can be redeemed for a

discount when purchasing goods or services. Coupons feature specific savings amount

or other special offer to persuade consumers to purchase specific goods or services or

to purchase from specific retailers.

Customer Relationship Management: Customer relationship management (CRM) is

a business strategy designed to reduce costs and increase profitability by

strengthening customer loyalty.

Demographics: Identifies population in groups based on age, gender, income,

occupation, education, religion, race, family size, family life style, and

more. Government studies often provide demographic information.

Discount: A reduction in the price of an item or transaction based upon the customer

making the purchase.

Enterprise Resource Planning (ERP): ERP is business process management

software that allows an organization to use a system of integrated applications to

manage the business and automate many back office functions related to technology,

services and human resources.

E-Shelf Signage: Electronic Shelf Signage system is used by retailers for displaying

product pricing on shelves. Typically, electronic display modules are attached to the

front edge of retail shelving

Hypermarket: Combination store pioneered in Europe that blends an economy

supermarket with a discount department store. It is even larger than a supercenter.

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Interactive Kiosks: An interactive kiosk is a computer terminal featuring

specialized hardware and software designed within a public exhibit that provides

access to information and applications for communication, commerce, entertainment,

and education.

Inventory: Inventory is the merchandise a retail store has on hand. The term also

refers to the act of counting, itemizing and recording in-stock merchandise or

supplies.

Kiosk: A free standing structure used in a public place, such as a mall, that is

designed to support product or a service to be sold to consumers. It is also used for

interactive opportunities and may be on a short term basis, such as when used during a

festival.

Manufacturer: Refers to handmade or machine constructed products that begin as

raw materials and are completed into finished goods that are for use or sale to

wholesalers as well as retailers.

Margin: The amount of gross profit made when an item is sold.

Organised Retail: Refers to trading activities undertaken by licensed retailers, that is,

those who are registered for sales tax, income tax, etc. These include the publicly

traded supermarkets, corporate-backed hypermarkets and retail chains, and also the

privately owned large retail businesses.

Point of Sale (POS): Point of sale (POS) refers to the area of a store where customers

can pay for their purchases. The term is normally used to describe systems that record

financial transactions such as electric cash registers or an integrated computer system

that records the data that comprises a business transaction for the sale of goods or

services.

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Point-of-purchase Display: Point-of-purchase displays, or POP displays, are

marketing materials or advertising placed next to the merchandise it is promoting.

These items are generally located at the checkout area or other location where the

purchase decision is made. For example, the checkout counters of many convenience

stores are cluttered with cigarette and candy POP displays.

Private Label: Products that are generally manufactured or provided by one company

under another company's brand.

QR Codes: a machine-readable code consisting of an array of black and white

squares, typically used for storing URLs or other information for reading by the

camera on a Smartphone.

Retail Supply Chain: A product is created at a manufacturer, is sold to a wholesaler,

and then is sold again to a retailer who ultimately sells the product to the final

purchaser, the consumer.

Retail: The business of selling services or products that will ultimately be sold to

consumers includes manufacturers, wholesalers, and retailers.

Retailer: A fixed location, including store fronts, the internet, kiosks, and vending

stations, that sell products or services to consumers.

RFID Technology: is the wireless use of electromagnetic fields to transfer data, for

the purposes of automatically identifying and tracking tags attached to objects.

Shrinkage: Retail shrinkage is a reduction or loss in inventory due to shoplifting,

employee theft, paperwork errors and supplier fraud. This pertains to the difference

between the amount of stock that you have on paper and the actual stock you have

available. In other words, it‘s a reduction in inventory that isn‘t caused by legit sales.

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The common causes of shrinkage include employee theft, shoplifting, administrative

errors, and supplier fraud.

Staple Goods: Staple goods are products purchased regularly and out of necessity.

Traditionally, these items have fewer markdowns and lower profit margins. While

price shifts may raise or lower demand for certain kinds of products, the demand for

staple goods rarely changes when prices change.

Stock-Keeping Unit: More commonly known as SKU, this term pertains to the

unique identification of a particular product. It‘s used in inventory management and

enables retailers to track and distinguish products from one another. A SKU

represents all the attributes of an item, including style, brand, size, colour, and more.

Unorganised Retail: Refers to the traditional formats of low-cost retailing, for

example, the local corner shops, owner manned general stores, paan / beedi shops,

convenience stores, hand cart and pavement vendors, etc.

Visual Merchandising: The art of using effective design and merchandising ideas

that will enhance the shopping experience of a store as well as increase sales and foot

traffic.

Wholesale: Wholesale is the sale of goods, generally in large quantity, to a retailer for

resale purposes.

Wholesaler: An individual or company that sells a product or service to a retailer and

does not sell this product or service directly to consumers.

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Evolution of Retail

Retailing has been the most dynamic and alluring area of the most recent decade.

Prior in the previous centuries, the merchandise was sold in market places or by

peddlers. In medieval period the market was dependent on local sources for supplies

of perishable foods as distance were too long and journey was slow for transportation.

During prehistoric times, the peddler travelled long distances to supply goods where

there is shortage in particular markets. The peddlers were the persons who provide

goods and necessities to the people who were not self-sufficient in, and it was one of

the earliest form of retail trade. Peddlers can be the early entrepreneurs who saw the

opportunity in serving the needs of the consumers at a profit. The world first saw the

emergence of retailing in the pre 1850s when Yankee Peddlers, Bartering, Trading

Posts & General store were set up. The first departmental store, F&R Lazarus &

Company was established in 1851 in Columbus. Lazarus influenced American retail

industry over 150 years until the company renamed Macy‟s in 2005.At present

Macy‘s Incorporation, which is one of the premier retailer, is operating from its

corporate offices at Cincinnati and New York. Amid 1860 to 1910 many general and

chain stores dominated the scene. In 1932, the first supermarket Big Bear was

established in New Jersey.

In India the retail business is as old as in the global context. Here also Barter was

considered to be the oldest form of retail trade. Since independence, retail in India has

evolved to support the only one of its kind needs of our country, given its dimensions

and complexity. Haats, Mandis, Shandys and Melas have always been a part of Indian

retail and still proceed in some part of the country and forms an important part of life

and trade in various areas.

On 14th December, 1905 the first retail outlet ‗Bombay Swadeshi Co-operative Store

co. Ltd. was opened keeping in view the soul of swadeshi and listed on Bombay
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Stock Exchange in 1963 as first retail organisation. Later in 1995 the name changed to

„The Bombay Store‟. During World War II the British introduced the system of

public distribution of grains through ‗rationing‘ and exist as a solitary biggest retail

chain in India. In the previous decade, the Indian commercial centre has changed

detectably. It has gingerly advanced from being state-led to becoming ―market

friendly"

The first organised retail chains in the food and grocery segment was established in

southern India with stores like Nilgiri‘s, Food World, margin Free, etc. consumer

durables also took the lead in south with regional territorial like Viveks, Pai

International, Giria‘s etc. India‘s first 500000sq.ft.shopping centre from MangalTirth

Estate called Spencer Plaza came up in Chennai in 1990.

Since liberalisation numerous Indian retailers ventured into organised retail segment

and developed by manifolds till now. Some of them are Shopper‘s Stop, Pantaloon

Retail India Ltd., Spencer Retail etc. Also economy had opened up and large number

of middle class with spending power has come out to capture this sector. The concept

of retail as entertainment came in India with the advent of malls. With the

authorisation of Foreign Direct Investment in single brand retail and cash- and – carry

formats, a new chapter unravel in the retail space. In this way in India, it‘s a

beginning of new era for retailing. The development of malls is now visible in whole

country including metros, mini metros, Tier II and Tier III cities.

Global Scenario

Retailing is huge business in developed countries and better organized as compared to

India. According to a report published by McKinsey & Co. along with the

Confederation of the Indian Industry, the global retail business is USD 6.6 trillion.

The service sector accounts for a large share of GDP in most developed economies

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and the retail sector forms a very strong component of the service sector. As long as

people need to buy, retail will create livelihood. Globally, retailing is a customer-

driven with accentuation on innovation in products, processes and services.

Retail worldwide assumes a noteworthy part with expanding its action in consumer

merchandise and services. Retail is the second-biggest industry in the United States

both in number of establishments and number of employees. It is likewise one of the

largest across the world. The retail industry employs more than 22 million Americans

and generates more than $3 trillion in retail sale every year. Retailing is a U.S. $7

trillion sector.The impact can be seen in the countries like BRIC nations (Brazil,

Russia, India and China), US, UK and numerous gulf countries.

In developing markets from South America to South East Asia to Southern Africa,

international retailers and their local opponents are expanding, floated by more peppy

economy and developing retail environment. Numerous large international retailers

are constantly expanding their vicinity in new nations, especially in transpiring

markets due to their high growth potential. It is expected that around 70% of world‘s

growth is prone to originate from developing markets, with 40% contribution from

China and India alone (fibre2 fashion). Latin America, which incorporates Brazil‘s

gigantic market, Chile‘s sophisticated fair-sized market and ―little diamonds‖ such as

Uruguay, had expanded dynamic retail sector and strong economic growth. These

components have made Latin America a pioneer with three of the top ten countries in

Global Retail Development Index (GRDI) where high consumption levels are alluring

for extravagance brands.

Some Latin American countries like Peru, Mexico, and Colombia are confronting

economic and political challenges due to which commodity price are falling and fiscal

deficits are rising. To create favorable retail environment and to increase investors

and consumer‘s confidence leaders has to maintain economic and political stability.
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Global retailers are entering and gaining ground in profoundly focused environment

with local and territorial leaders. Also e-commerce is growing stronger in these

countries.

Asian countries like China, Malaysia and Indonesia offers fertile ground for retailers

as the economy is growing fast due to expanding populations, rising incomes and

increasing affinity for organized retail formats. This helps retail sales to grow at high

velocity. Modern retail has covered urban market as well as the smaller, untapped

urban communities and regions.

GRDI Country Attractiveness 2015

Figure-1.1

Source: ATKearney‟s The 2015 Global Retail Development Index

The Asian region saw improvement in the rankings drove by China which stood on

the first place in the GRDI in the past five years and Malaysia, which re-entered the

top 10 for the first time since 2009 and maintained the same spot of two consecutive

years as shown in Table-1.1.

Table 1.1
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 India‟s Position in Global Retail Development Index 2015
Overall GRDI Overall GRDI Overall GRDI Overall GRDI
Country
(2015) (2014) (2013) (2012)
China 1 2 4 3
Uruguay 2 3 3 4
Chile 3 1 2 2
Qatar 4 N/A - -
Mangolia 5 N/A 7 9
Georgia 6 7 8 6
UAE 7 4 5 7
Brazil 8 5 1 1
Malaysia 9 9 13 11
Armenia 10 6 10 N/A
Turkey 11 11 6 13
Indonesia 12 15 19 16
Kazakhstan 13 10 11 19
Sri Lanka 14 18 15 15
India 15 20 14 5

Source: ATKearney‟s Global Retail Development Index- 2012, 2013, 2014 & 2015
The GRDI is Index developed by AT Kearney‟s which ranks the top 30 developing
countries for retail investment based on several macroeconomic and retail specific
variables such as market attractiveness country risk, market saturation and time
pressure. Since its inception, GRDI has ranked 63 different countries.

Indian which was positioned fifth in 2012 on GRDI, tumbled to fourteen in 2013 and

drops six spots to 20th place in 2014, that was least ever ranked in GRDI. Perhaps

because of currency fluctuations, high current account deficits, high consumer price

inflation and strict foreign direct investment policies. But in the year improvement in

trends has been reverse and the India holds the 15th position in the year 2015 on the

GRDI. Factors such as enhancing and rising discretionary income levels, expansion of

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organized retail sector into Tier II and Tier III cities and changing consumer

propensities can be the reason in the hike.

Central Asia and Eastern Europe has made alluring alternatives for international

retailers, whereas developing countries continued to show good growth and

momentum. Accused of good indicators, retailers precede their expansion such as

Metros and Auchan have reasserted their commitment to growth and expansion plans

in the country. In the previous years, US-based Wal-Mart, France-based Carrefour,

UK-based Tesco and Germany-based Metro group saw their revenues in developing

countries grow 2.5 times speedier than revenues in their home markets. The graph

underneath shows some international correlations.

Organised Retail Penetration (in %)

Figure- 1.2

Source: KPMG Report 2014, The Indian Retail: The Next Growth Story

As it is clear from the above graph, organized or formal retail in India still has

tremendous potential to grow. To achieve a 15% share of the total retail market in the

next five years, organized or formal retail has to grow to USD115 billion, at a CAGR

of 27%, which is very realistic, given the 35% CAGR of the last five years.
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 Table 1.2
Top Twenty Retailer Around The Globe

Source: Deloitte‟s Report- Global Powers of Retailing 2014

As delineated from the Table 1.2 extracted from Deloitte‟s report Wal-Mart is the

world‘s largest retailer. Already the world‘s largest employer with over 1million

associates, Wal-Mart displaced oil giant Exxon Mobil as the world‘s largest company

when it posted $219 billion in sales for fiscal 2001. Wal-Mart has turn into the most

successful retail brand in the world due its capacity to leverage size, market clout, and

effectiveness to make market predominance. Wal-Mart heads Fortune magazine list of

top 500 companies in the world.

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Indian Scenario

Retail sector is not very new to our culture but rather Indian retail industry is

witnessing the modern concepts introduced in retail industry. In India, retail scenario

is altogether different from other nations. The diversity in customs, cultures and

religions makes Indian market highly fragmented. As indicated by FICCI‟s report

(2012) the Indian retail sector accounts more than 20% of the nation‘s gross domestic

product (GDP) and contributes 8% to total employment. The aggregate Foreign Direct

Investment (FDI) inflows in single brand retail trading amid April 2000 to June 2011,

remained at 69.26 million US Dollars. Retail industry in India is the second largest

industry providing highest employment. Agriculture stood on the top. The retailing

industry in India provides employment to 18 million people. Indian retail industry is

the fifth largest in the world and on the twelfth largest consumer market in the world.

Indian Retail Sector- Size and Growth

Figure- 1.3
Source: KPMG Report 2014

The Indian retail market in 2013 was USD 520 billion, is anticipated to grow at

CAGR of 13% to reach USD 950 billion by 2018 as expressed in report “Pulse of

Indian Market” compiled by EY and RAI, 2014. Additionally the numbers of

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modern stores are expected to increase from 11,192 in 2006 to 67,100 by 2016.

Similarly the number of supermarket are expected to increase from 500 in 2006 to

about 8,500 by 2016 and total retail space supply in India is projected to grow from

5.3 million sq.ft. to 6.6 million sq.ft. over 2013-15(KPMG report 2014). Market size

of Indian retail is expected to touch at Rs 47 lakh crore by 2016-17 expanding at

CAGR of 15% in both organised and unorganised sector.

India categorizes retail trading into single brand retail trading and multi-brand retail

trading. Presently FDI in single brand retailing is permitted to the extent of 100

percent where as in multi-brand it is permitted upto 51% with specific terms,

conditions and government approval. FDI inflows in single brand retail trading during

the period April 2000 - January 2014 stood at USD 98.66 million, according to

information released by Department of Industrial Policy and Promotion, 2014.

With the speedy development in retail market the sector is encountering exponential

growth in Tier II and Tier III cities such as Jaipur, Nagpur, Ludhiana, Vadodara,

Aurangabad, Kochi etc. as hot spot of consumption. In near future, retail is expected

to grow 50-60% annually in Tier II and Tier III cities compared to 30% of metros.

Better employment opportunities and enhanced lifestyles have pulled the rural

population towards cities. By 2030, it is estimated that 91million household will be

middle class and about 570 million people are expected to live in cities. This factor

would be a significant driver for organised retail.

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 Classification of Cities and Towns
Figure- 1.4
Source: The Great Indian Bazar, Mckinsey& Co. August, 2008

State- Wise Distribution of Retailers in India

Figure- 1.5
Source: State wise location of retail stores, Business Standard website,

http://www.business-standard.com/content/general_pdf/012414_03.pdf, accessed on

26th feb2013; “Indian Retail Report 2013”, Images publication, 2013; KPMG in

India analysis as on 5th Sept,2014

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 Table- 1.3

Source: KPMG Retail report 2014

The retail clusters of India are taking into account the premise of substantial consumer

base as seen in table-1.3 and on the premise of this consumer base top 10markets are

formed which includes Mumbai, Delhi-NCR, Bengaluru, Hyderabad and some Tier II

cities such as Jaipur, Surat and Ahmadabad. The above figure 1.5 demonstrates that

organised retail is highly inclined towards some of the southern states of India

followed by western India. Punjab is the main state having most extreme vicinity of

retailing. The areas offer the advantage of better planned development, lower rentals

and extensive spaces, required by organised retailers. On the other hand eastern states

of India have least vicinity of organised retailing.

According to panel members at the seventh Food and Grocery Forum India, the

opportunities in food and grocery retail are immense, as it contributes about 69% of

the country‘s total retail market. In India, over 92 percent of the retail sector is

consists of unorganised retail i.e. traditional street vendors and mom and pop stores.

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a. Unorganised Sector

The conventional type of retailing such as Kirana stores, proprietor managed general

store, neighbourhood stores, convenience store or a paan/beedi shop etc. constitutes

unorganised retailing. According to the National Accounts Statistics of India ―the

unorganised sector includes units whose activity is not regulated by any statute or

legal provisions and/ or those, which do not maintain regular accounts.‖ It is also a

form of low cost retailing. This segment incorporates all forms of trade which sell an

assortment of products and services ranging from fruits and vegetables to shoe repair.

The number of people engage in this kind of action could range between 10-20 people

and the merchandise or services can be offered out of a mobile or fixed location.

India‘s per capita retailing space is around 2 square feet. 15million retail outlets are

there in India and more than 96% are smaller than 500 square feet in area. While per

capita retailing space in US is 16 Square feet. Two third of the unorganised stores in

India are located in the rural area with Haat and Melas, as a selling format. The

unorganised retail is expected to grow at approximately 5% percent per annum with

sales increasing from USD 309 billion 2006-07 to USD 650 in 2020.The reason

behind are the ease structure, mostly owner operated, has negligible real estate and

labour cost and little or no taxes to pay. The unorganised sector of retailing constitutes

about 92% of the total retail sector trade. This sector is a biggest challenge for

organised retailing.

b. Organised Sector

Recent years have witnessed rapid change and searing advantages in Indian retail

stores transversely over diverse categories. This can be considered as an after effect of

the changing disposition of Indian shoppers and their staggering acknowledgement to

cutting edge retail designs. Subsequently liberalisation on Foreign Direct Investment a

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shift in the trend from conventional retailing to organised retailing can be seen in

Asian market. For example, in China there was an extreme auxiliary development

after FDI was allowed in retailing. Organised retailing is the most established method

of selling consumer goods in developed countries. In India the share of organised

retailing is very small but there is tremendous scope and a viable future.

The emergence of organised retailing in India was first traced in Calcutta (now known

as Kolkata) route in the 19th century. The Hogg Market, prominently known as New

Market is one of Kolkata‘s earliest shopping centres, designed by an East Indian

Railway Company. It was opened in 1874and named after the municipal

commissioner of Calcutta, Sir Stuart Hogg. Organised retailing comprises mainly of

modern retailing with busy shopping malls, multi-stored malls and huge complexes

that offers a substantial variety of products in terms of quality, value for money and

makes shopping a memorable experience (Kusuma, Prasad &Rao, 2013).

According to the study by ASSOCHAM and YES Bankon FDI in Retail: Advantage

Farmers, organised retail constitutes 8% of total retail in 2011-12 is estimated to

grow at a CAGR of 24% and attain 10.2% share of total retail by 2016-17. They also

viewed that within store based retailing, grocery retailers are forecasted to grow at a

CAGR of 8.9% during 2011-16 and non-grocery retailers will grow at 6percent in

current sales value terms.

The organised retail segment is expected to account for 25percentof the overall retail

market and reach a size of USD 200 billion by 2020. According to a study by leading

industrial body the total organised retail supply in 2013 stood at approximately 4.7

million square feet, witnessing a strong year-on-year growth of about 78 percent over

the total mall supply of 2.5million square feet in 2012.

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Organised retail in India is expected to increase from 5 per cent of the total market in

2008 to 14-18 per cent and reach US$ 450 billion by 2015, according to a McKinsey

& Company report titled 'The Great Indian Bazaar: Organised Retail Comes of

Age in India'. As per Crisil Research Estimates 2014(extracted from KPMG report

2014), the revenue generated from organised retail was INR0.9 trillion (USD 15.5

billion) in 2009, INR2.4 trillion in 2012 (USD 41.4 billion), and is expected to

continue growing at an impressive rate to a projected INR 5.5 trillion (USD 94.8

billion) by 2019.The sector is experiencing growth in India with retail development

not just in major cities and metros, but also in Tier II and Tier III cities.

As analysed by TATA Strategic Management Group the organised retail market is

expected to grow from Rs. 28000 crore of 2004 to Rs 2, 46,431crore in 2015 in terms

of sale. The projected sales of different categories are tabulated as under:

Table- 1.4
Organised Retail Market in India
2004 2015
Category Value in Rs. % Value in %
CR Share Rs. CR Share

Food, Grocery & General

2,950 10% 1,02,546 42%
Merchandise

Clothing, Textile & Fashion 10,900 39% 40,605 16%

Durables & Mobiles 3,3400 12% 28,891 12%

Food Service 2,000 7% 24,351 10%

Home Improvement 2,500 8% 16,346 7%

Jewellery & Watches 1,960 7% 8,770 3%

Footwear 2,500 9% 6,508 3%

Books, Music, Toys & Gifts 800 3% 3,722 1%

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 Others 1,350 5% 14,692 6%

Total 100% 28,000 100% 2,46,431 100%

Source: Data extracted from TSMG Report, Tata review June 2006.

Emerging Trends in Modern Retail Formats

It is hard to fit a fruitful worldwide configuration of retail formats specifically and

anticipate a comparative execution in India. The lessons from multinationals growing

to new geographies likewise indicate this. For instance, Wal-Mart is exceptionally

effective in USA yet the story is distinctive in Asian nations like China. Subsequently,

it is imperative for a retailer to take a local conditions and experiences into the local

purchasing behavior before forming the format choice. Considering the assorted

qualities regarding taste furthermore, inclinations winning in India, the retailers may

go for experimentation to recognize the triumphant arrangement suited to distinctive

topographies and sections. Such as, the taste in south is diverse from that in north and

this conveys difficulties to the retailers. In this way, the greater part of basic need

retailers are district driven as of right now. The accessible exploration researches on

retail demonstrate the following patterns in Modern Retail forms:

1) Trial & Error:

Various retailers are in a mode of experimentation and attempting a few formats

which are basically the representation of retailing ideas to fit into the buyer psyche

space. Aside from topography, ruraland urban gap postures diverse challenges to the

retailer. Pantaloon Retail India is exploring different avenues regarding a few retail

arrangements to coddle a wide fragment of consumers in the market. Some of the new

formats are Fashion Station (popular fashion), Blue Sky (fashion accessories), aLL

(fashion apparel for plus-size individuals), Collection i (home furnishings), Depot

(books & music) and E-Zone (Consumer electronics).

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2) Emergence of Wholesale Clubs:

Since retailers are trying to segment the market with the help of formats, they

developed another new format in the form of Wholesale Club to sell a segment of

consumers, who purchase on bulk and look out for substantial discounts and offers.

The new format is going to be a kind of wholesale club which is likely to be located

close to Food Bazaar. Consumers who are interested to purchase on bulk can take

benefit from this format. Similarly the Land mark group also operates multiple

formats such as hypermarket (Max), departmental store (Lifestyle), Shoe mart and

Fun-City etc. Such experimentation and identification of an appropriate format for the

local conditions would separate winners from losers in India, possibly implying

multiple formats could be the reality in the long run. Pantaloon Retail India Ltd is a

live example of that in Indian scenario.

3) Increasing Acceptance of Rural Markets:

Mall-craziness is marvelous in India and is spreading quickly and entering evens the

second tier urban cities in India. Real estate developers are bouncing quickly to take

this further from Metro urban communities to smaller cities. Furthermore, corporate

houses like ITC and Sriram gathering are making consistent advancement to make

this phenomenon plausible in rural markets too. There is no denying that the top urban

cities like Mumbai, Delhi, Bangalore, Hyderabad, Kolkata, Chennai and Pune are

driving the way however the second tier cities like Ludhiana, Chandigarh, Nagpur and

Surat are likewise getting the attention of all retailers. Retail developers are in such a

mind-set, to the point that they might override the necessity in a particular city.

4) Govt. is additionally advancing the Development of Modern Retail Formats:

Big shopping centers are progressively getting prominence with adequate retail space

assigned to recreation and diversion. Few states like Punjab have lifted entertainment
23
tax on multiplexes till 2009. This supported the certainty of the shopping center

designers to accommodate players like PVR, Waves, Adlab and Fun Republic in big

malls.

5) Efficient Buying:

Supermarkets & Discount Stores gives the best determination of any general

merchandize and frequently serves as the anchor store in shopping center or mall. In

India, department stores are contrasted with other retail organizations, such as,

Supermarkets and discounted stores. Shopper‘s Stop is the first to open a department

store in the mid-1990s and at present 19 stores are operating in 10 distinct urban cities

of India. The store firmly concentrates on life style retailing and predominantly

separates into five divisions, for example, clothing, accessories, home decor, gifts and

different services.

6) Growing Hypermarkets:

Hypermarkets have risen as the greatest crowd pullers because of the way that normal

repeat purchasers are norms at such outlets. Hypermarkets not only offer buyers the

extensive product mix, item and brand decisions under one roof, yet likewise make

unrivaled worth for cash preferences of hypermarket shopping. Items offered extend

from new produce and FMCG items to electronic gadgets, apparels, house ware, do it

without anyone's help (DIY) and outdoor products, the hypermarkets are emerging as

one of the famous configurations in India. Numbers of players operating hypermarket

format are expanding step by step. One of the main players in these formats, Big

Bazaars operates with 32 stores in twenty cities. In mid-2006, the K. Raheja Corp

(C.L. Raheja Gathering) has presented its esteem retail idea hyper city which is the

nation's biggest hypermarket at 118000 sq ft. hyper city Retail wants to open 55

hypermarkets by 2015. As the business is extending and shoppers are in a state of

24
mind to acknowledge changes, hypermarkets are getting overpowering reaction from

customer. Right now there are around 40 odd hypermarkets in India yet this

configuration holds an extraordinary potential for development.

7) Emergence of Private-Label Brands:

The private labels are offering flexibility to both the retailer and the customer on price

front. The goal of the store is to offer assortment at reasonable cost in every

classification. Food Bazaar have made the move from only a basic supply retailer to

creating passionate holding with customers by giving some quality added services to

the customers. Some of these activities incorporate: (Jo Dikhta Hay Woh he Bikta

Hai)

8) Ease of Shopping & Customized Services:

A Convenience store offers location advantage to the customers and gives simplicity

of shopping and customized services to the customers. It charges normal to above

normal prices, contingent upon the product class and conveys a moderate number of

stock keeping units (SKUs). Ordinarily it remains open for long periods of time and

customers use it for purchasing fill-in merchandize and emergency purchases. In

India, Convenience stores involved 23 thousand sq. meter of retail space with sale of

about Rs 1347 million in 2005 and are normal involve 85 thousand square meter of

offering space by 2010.

9) E-Retailing:

The significance of web retailing is developing all over the world. Some web retailers,

for example, e Bay and rediff.com are giving a stage to sellers to offer their items

online and they don't assume the liability of conveying the item to purchaser. They

give virtual shopping space to the merchants. Then again online retailers like

25
amazon.com and walmart.com need to keep up their distribution center to stock items

and assume the liability of conveying items to the purchaser. Along these lines, the

majority of the block and mortar stores are going into internet retailing as they have

physical foundation and they can utilize that to catch extra customer wallet. All the

enormous retailers like Target, Sears and Kmart are working online shop and a few

produces additionally work on the web. For instance Apple Inc. works through

apple.com and Dell Inc. offers its items online through dell.com.

Growth Drivers for Organised Retailing:

The retail industry in India is enjoying out of blast time and job opportunities in

retailing have been increasing. In fact, retailing has emerged as a new stream of

management curriculum, providing new areas of employment. The retailing sector in

India is exceptionally fragmented and predominantly comprises of small autonomous,

owner-managed shops. The contribution of a well-developed retail industry, to its

economy, could be manifold; firstly it will help in releasing for productive usage large

area of lands lying ideal in prime location with governmental and non-governmental

agencies. Secondly, if we look at any major tourists' city in the world it has a well-

developed shopping environment; consequently it is evident that organised retailing

would help significantly in promoting our cities as tourist destinations. There are

numerous elements contributing to the growth of organised retail sector. Some of

them are as follows:

1. Regulatory Norms

Regulatory factors are those which have immediate or roundabout impact on the

working of retail organisation either in the form of regulatory policies or in the form

of taxes. Liberalization of FDI policies in retail provides driving force to the entry of

large international retailers. The principal movers are required to be international

26
retailers in single brand retailing across categories like fashion/ apparel, watches,

shoes etc. as government has allowed 100% FDI in single brand retailing. Another

move can be seen by international players in food and grocery where 51% of FDI is

permitted by Indian government. Regulatory norms for modern retail are more

stringent in developed countries rather than developing countries. For example in

most west European countries, setting up of hyper market has turned out to be

exceptionally troublesome since the last 1990s and mid-2000s as government has got

to be alive to the demands of conventional small retailers and non-versatile consumer

in these countries merger and acquisition plans are currently taken at more critically

by the national and European competition authorities. While in many countries

opening hours are liberalized including holidays trading, the very small numbers of

countries where opening and Sundays are prohibited including developed countries

such as Germany and Austria (Planet Retail, 2005).

2. Growing Working Women Population

Presently ladies are proficient and qualified so they are more indulged in professional

earnings and performing family act as well as managing their office. They need to

maintain balance between home and office. So the purchasing habit of the working

ladies is not quite the same as home maker. They have less time for recreational

activities so they expect everything under one roof. Therefore they prefer one stop

shopping destination where everything is available. According to the Selected Socio-

Economic Statistic, India2011 number of women employed in the organised sector

has been steadily increasing from 37.68 Lakhs in 1991 to 48.04 in 2000 amounting to

27.49%. Further the women employed in the organised sector increased from 49.46

lakhs in 2001to 55.92 lakhs in 2009 amounting to 30.6% which is substantial.

Increasing proportion of working women gives increased in demand of semi

processed food and fast foods and the products which provides comfort and

27
convenience. With the dilution of joint family concept in urban areas, with dual

income facilities, such families are looking forward to one stop shopping convenience

which is very strong driving force in advent and growth of modern retail. The

following table aptly illustrates the consistent growth in employment of women in

organised sector.
Table- 1.5
Employment in Organised Sector(1991-2009)
Year Total Employed % of Women
Employed Women
Employment To
(In Lakhs)
(Ending March) (In Lakhs) Total Employment
1991 267.30 14.10 37.68
1992 270.60 14.40 37.88
1993 271.80 14.80 40.22
1994 273.70 15.20 41.60
1995 275.20 15.40 42.38
1996 279.40 15.80 44.14
1997 278.00 16.80 46.70
1998 281.90 17.00 47.92
1999 281.10 17.20 48.34
2000 279.60 17.60 48.04
2001 277.89 17.80 49.46
2002 272.06 18.10 49.34
2003 270.00 18.40 49.68
2004 264.43 18.60 49.23
2005 264.58 19.00 50.27
2006 269.93 19.00 51.29
2007 272.76 19.20 52.34
2008 275.48 20.00 55.10
2009 280.98 19.90 55.92

Source: Selected Socio-Economic Statistics India 2011 http://

mospi.nic.in/mospi_new/upload/sel_socio_eco_stats_ind_2001_28oct11.pdf

28
3. Growing Urbanisation

Over reliance on rains, inadmissible establishment, fragmented land holdings has

occur individuals relocating from rural to urban areas searching for occupation

occurring urban ranges and towns getting the opportunity to be more noteworthy and

more prominent. Throughout the decades there is a gradual shift in the share of rural

population to total population declined from 82.0% in 1961 to 68.3% in 2011. On the

other hand the share of urban population to total population increased from 18% in

1961 to 31.7% in 2011. This increase in urbanisation has resulted in wealth generation

and growing demand for products in all cases. In their interest to fulfil the developing

ravenousness growing needs of the customer‘s retailers especially from organised

sector are going out of the way to fulfil these needs.

Table- 1.6
Rural Urban Divide- Indian Population in Millions 1961-2011
Year Rural Percentage Urban Percentage Total

1961 360.3 82 78.9 18 439.2

1971 439.2 80.1 109 19.9 548.2

1981 523.8 76.7 159.5 23.3 683.3

1991 628.7 74.3 217.6 25.7 846.3

2001 742.5 72.2 286.1 27.8 1028.6

2011 833.1 68.3 377.1 31.7 1210.2

Source: India‟s Urban Demographic Transition The 2011 Census Results

(Provisional)
http://indiagovernance.gov.in/files/urbandemographictransition.pdf

4. Growing Consumer Class

The growing Indian economy has changed the degree of pay dispersal among the

people. With rising consumer demand and increased discretionary income has make

29
opportunity for retail industry to grow and succeed. The per capita income and

personal disposable income increased from RS 16,184 in FY 00 Rs. 28, 674 in

financial year 2005-06.

Table- 1.7
Income Distribution of the Households
Income Distribution of Households
No. of Households (mn)
Rs.‟000 (%)

1995- 2001- 2005- 2009- 1995- 2001- 2005- 2009-

FY
96 02 06 10 96 02 06 10

Deprived 90 131.2 136.4 132.2 114.4 79.6 71.9 64.9 51.6

Aspirers 90-200 28.9 41.3 53.3 76.3 17.5 21.9 26.2 33.9

Middle 200-
4.5 10.7 16.4 28.4 2.7 6.7 8.1 12.8
Class 1000
1000
Rich 0.3 0.8 1.7 3.8 0.2 0.4 0.8 1.7
above

Total 164.9 188.2 203.6 221.9 100 100 100 100

Source: National Council of Applied Economic Research (NCAER), CARE Research

5. Growing Per Capita Expenditure

The consolidated impact of increase in the disposable income as well as ever growing

needs of the increasing population reflected in the increasing of per capita

expenditures over the course of years. In the urban regions, average per capita

monthly spending on the food items increased from Rs 299.9 during July 95- June 96

to Rs.517 during July 06- June 07 to Rs 575 in July 07- June 08 while in rural areas

increased from Rs. 207.7 in July 95- June 96 to Rs.363 during July 06- June 07 to Rs.

395 in July 07-08.

30
In the urban areas, average per capita total monthly expenditure increased from

Rs.599.2 during July 95- June 96 to Rs.1312 during July 06- June 07 to Rs. 1464

during July 07- June08 while in the rural areas the average monthly total expenditure

increased from Rs.344.3 during July 95- June 96 to Rs.763 during July 06- June 07

and remain constant during July 2007-08.

Table- 1.8
Per Capita Household Consumption Expenditure (in Rs.) in India
Rural Urban

Food Total Food Total

Average Monthly Expenditure Per Person (Rs.)

July95-June96 207.7 344.3 299.9 599.2

Jan-Dec 97 231.9 395.0 320.2 645.4

Jan-June98 232.4 382.1 339.7 684.3
July99-June2000 443.2 288.8 443.2 971.6
July2000-June2001 278.6 494.9 400.6 914.6
July2001-June2002a 276.4 498.3 402.3 932.8
July2002-Dec2002a 292.3 531.5 429.8 1012.0
Jan2003-Dec2003a 298.6 554.0 429.0 1022.0
Jan2004-June2004a 304.6 564.7 441.5 1060.0
July2004-June2005 307.6 558.8 447.4 1052.3
July2005-June2006 335.2 624.5 467.8 1170.6
July2006-June2007 363.0 763.0 517.0 1312.0
July2007-June2008 395.0 763.0 575.0 1464.0

Source: Selected Socio-Economic Statistics India 2011

http:// mospi.nic.in/mospi_new/upload/sel_socio_eco_stats_ind_2001_28oct11.pdf

31
6. Increase in the use of plastic money

The growing use of debit/credit cards has brought about unconstrained and expanded

spending from the masses. This has resulted in the demand for products in all cases.

Furthermore the Banks are coming forward with the appealing schemes/ incentives

such as discount or cash back offers which have further increase additional spending

through debit/credit cards aptly. This has been shown through the figures 6 and 7.

Transactions (in million)

Credit Cards Debit Cards
466
328
128 237
170
322 396
260 234 265

FY09 FY10 FY11 FY12 FY13

Card Base Transactions

Figure-1.6

Spends (in billion(INR))

Credit Cards Debit Cards

726
524
387
185 264 1235
654 629 755 978

FY09 FY10 FY11 FY12 FY13

Spending Through Cards

Figure- 1.7

Source: Atos Worldline. India Card Payment Report FY 2012-13

32
7. Technological Impact

The computerization of the distinctive operations in a retail store including inventory

management, billing and payments as well as database management system, wide

spread use of bar coding, point-of-sale terminals, MIS, RFID has changed the face of

retailing industry. Aside from furnishing the retailers with better and opportune

information about their operations, the technology also performs such tasks as

preventing theft, promoting the store‘s goods and creating a superior shopping

environment. This is done with the assistance of closed circuit televisions, video

walls, in-store video networks, and other forms of interactive applications ranging

from CD-ROMS to virtual reality to let customers select and buy products.

Challenges in Organised Retailing:

In 1990 with the liberalization of Indian Economy the employment and income from

the service sector has lead to the rapid increase of Middle Class Consumers. The

lifestyle and purchasing power of this segment has fueled the growth of Organised

retailing (CII National Retail Summit, 2006). The Organised retailing in India initially

began with the availability of land at prime locations. It not only coupled with lower

real estate prices but also enabled the construction of multi-storied shopping

complexes and the growing purchasing power of the middle class consumers (Retail

Symposium, 2008).Though there are many drivers that boom growth of Indian retail

but still there are certain factors which hinders its growth in near future.

Unprecedented challenges for organised retailing are as follows:

33
 Table -1.9
Challenges in Organised Retailing
Factors Description Implications

 Limited FDI in pure  Absence of global

Barriers to FDI retailing players
 Franchisee arrangement  Limited exposure to
allowed best practices
 Government does not  Restricted availability
Lack of Industry Status recognize the industry of finance
 Restricts growth and
scaling up
 Lack of urbanization  Lack of awareness of
 Poor transportation Indian consumers
infrastructure  Restricted retail growth
 Consumer habit of  Growth of small, one-
Structural Impediments buying fresh foods store formats, with
 Administered pricing unmatchable cost
structure
 Wastage of almost 20%-
25% of farm produce
 Pro-tenant rent laws  Difficult to find good
 Non-availability of real estate in terms of
government land, zoning location and size
High Cost of Real Estate restrictions  High land cost owing to
 Lack of clear ownership constrained supply
titles, high stamp duty  Disorganized nature of
transactions
 Several segments like  Limited product range
food and apparel  Makes scaling up
reserved for SSIs difficult
 Distribution, logistics  High cost and
Supply Chain constraints –restrictions complexity of sourcing
Bottlenecks of purchase and & planning
movement of  Lack of value addition
 food grains, absence of and increase in costs by
cold chain infrastructure almost 15%
 Long intermediation
chain

34
  Differential sales tax  Added cost and
rates across states complexity of
Complex Taxation  Multi-point octroi distribution
System  Sales tax avoidance by  Cost advantage for
smaller stores smaller stores through
tax evasion
 Stringent labour laws  Limits flexibility in
governing hours of operations
work, minimum wage  Irritant value in
Multiple Legislations payments establishing chain
 Multiple operations; adds to
licenses/clearances overall costs
required
 Local consumption  Leads to product
habits proliferation
 Need for variety  Need to stock larger
 Cultural issues number of SKUs at
Customer Preferences store level
 Increases complexity in
sourcing & planning
 Increases the cost of
store management
 Highly educated class  Lack of trained
does not consider personnel
retailing a profession of  Higher trial and error in
Availability of Talent choice managing retail
 Lack of proper training operations
 Increase in personnel
costs
 Low cost structure  Easy access of kirana
Competition from  Mostly owner operated stores
Unorganised Sector  Negligible real estate  Familiarity, generation
and labour cost to generation link
 Pay little or no taxes
 Rapid growth in  Higher cost to retailers
vendors fraud
 Employee theft
Retail Shrinkage  Shoplifting (accounting
more than 50% of total
shrinkage value)

35
  No increase in margins  Manufacturers refuse to
Manufacturers Backlash Dis-intermediate and
pass on intermediary
margins to retailers

Source: Market Participants, Fitch; extracted from CII report: “Retail Scenario in
India- Unlimited Opportunity”

Forms of Retail Formats:

Over a period of time many retail formats have been evolved in distinctive parts of the

country. The traditional grocers have now introduced self-service formats and value

added services like Home Delivery, Monthly Credit etc. and have tried to differentiate

themselves from others. Different configurations for retailing which are in pattern are

as per the following:

Break-up of all mall space by format

Figure -1.8

Source: http://www.ibef.org/industry/retail-india.aspx extracted on 14th June 2013

36
# Hyper-Marts/Supermarkets: These are the large self-overhauling outlets offering

products from a variety of categories these are located in or near residential high

avenues. These stores today contribute to 30% of all food & grocery organized retail

sales. Super Markets can further be classified in to mini supermarkets ordinarily 1,000

sq. ft. to 2,000 sqft and large supermarkets ranging from of 3,500 sqft to 5,000 sq ft.

having a strong focus on food & grocery and personal sales.

# Mom-and-pop Stores: These are family owned business catering to small sections;

they are individually handled retail outlets and have a personal touch.

# Departmental Stores: Large stores ranging from 20000-50000 sq. ft, catering to a

variety of consumer needs. These are further classified into localized departments

such as clothing, toys, home, groceries, etc. These are general retail merchandisers

offering quality products and services.

# Convenience Stores: These are situated in neighbourhoods with somewhat higher

prices goods due to the convenience offered. These are relatively small stores

covering area of 400-2,000 sq. feet. They stock a limited range of high-turnover

convenience products and are usually open for extended periods during the day, seven

days a week. Prices are slightly higher due to the convenience premium

# Shopping Malls: It is the biggest form of organized retail in India located mainly in

metro cities, in proximity to urban edges. Ranges from 60,000 sqft to 7,00,000 sqft

and above. Malls offer customers an amalgamation of all types of products and

services including entertainment and food under a single roof. Examples include

Shoppers Stop, Piramyd, and Pantaloon.

# E-tailers: The sale of goods and services through the Internet. Electronic retailing,

or e-tailing, can include business-to-business and business-to-consumer sales. E-

tailing revenue can come from the sale of products and services, through subscriptions
37
to website content, or through advertising. E-tailing is synonymous with business-to-

consumer (B2C) transaction.

# Discount Stores: As the name suggests, discount stores or factory outlets, offer

discounts on the MRP through selling in bulk reaching economies of scale or excess

stock left over at the season. The product category can range from an assortment of

perishable/ non-perishable goods.

# Vending: It is a moderately new entry, in the retail sector. Here beverages, snacks

and other small items can be bought via vending machine. Vending machine

automatically dispenses consumer goods such as cigarettes, food, or petrol, when

money is embedded.

# Category killers: These are small specialty stores that offer a variety of categories.

They are referred as category killers as they concentrate on specific categories, such

as electronics and sporting goods. This is also known as Multi Brand Outlets or

MBO's.

# Specialty Stores: These are retail chains managing in specific categories and

provide deep assortment. Mumbai's Crossword Book Store and RPG's Music World

are a couple of examples.

Major Retailers In India:

The level of interest demonstrated by numerous major corporate sectors has increased

manifold over the last few years. Organised retailing for these business groups is a

legitimate expansion of their businesses. A portion of significant players have

exploited their expertise in selection and execution of retail establishments while

some have successfully employed forward integration by opening up their exclusive

38
outlets. According to the report compiled by Pooja Teckchandani the major players

of this sector are:

1. Future Group

Future Group is headquartered in Mumbai with 628 stores across the country

employing more than 18,000 people. It can boast of launching the first hypermarket

Big Bazaar in India in 2001. Having a retail space area of 5 million sq. ft. in India

which is, expected to reach 30 million by 2010. It is not only the largest retailer in

India with a turnover of over Rs. 20 billion but is present across most retail segments -

Food & grocery (Big Bazaar, Food Bazaar), Home solutions (Hometown, Furniture

Bazaar, Collection-i), consumer electronics (e-zone), shoes (Shoe Factory), Books:

music & gifts (Depot), Health & Beauty care services (Star,

Sitara and Health village in the pipeline), e-trailing (Futurbazaar.com),

entertainment (Bowling Co.)One of their recent innovations include e-commerce

‗hybrid format of small shops‘ the area for these stores will be 150 sq. ft. fitted with

40 digital screens. Customers will be encouraged to browse through the entire range

of products on digital screen. They will be able to place the order, the delivery of

which will be arranged by the shop to their homes within a few hours.

Table -1.10
Various Types of Store of Future Group
S.No. Type of Store No. of Stores
1 Big Bazaar 176
2 E-Zone 42
3 Fashion Big Bazaar 29
4 Food Bazar 55
5 Home Town 37
6 Food Hall 02
7 Food Right 02

39
 Pantaloons‘(Sold to Aditya Birla Group since
8 67
1st July,2013)
9 Central 22
10 Brand Factory 24
11 Planet Sports 42
12 Fair Price Stores (Future Venture) 193
Aadhar Whole Sales Market- Cash & Carry
13 02
(Future Ventures)
Total 693

Sources: http://www.futureretail.co.in,
www.futureventure.in/pdf/Annual_Report_FY_2012_13.pdf

2. K Raheja Group

They forayed into retail with Shopper‘s Stop, India‘s first departmental store in 2001.

It is the only retailer from India to become a member of the prestigious

Intercontinental Group of Departmental Stores (IGDS). They have signed a 50:50

joint endeavour with the Nuance Group for Airport Retailing. Shoppers Stop has 7,

52, 000 sqft of retail space with gross turnover of Rs2560.50crore for the FY 2012-13.

The first Hyper-City opened in Mumbai in 2006 with an area of 1, 20,000 sq. ft.

clocking gross sales of Rs. 1 billion in its first year. Crossword brand of book stores,

Homes Stop a store for home solutions, Mother care a concept stocking merchandise

related to childcare are also owned by them. The following table incorporates detailed

breakup of various retail chains owned by K.Raheja Group.

40
 Table -1.11
Various Retail Chain owned by K.Raheja Group
S.No. Types of Store No. of Stores
1 Shoppers Stop 55
2 Hyper City 12
3 Cross World 82
4 Home Stop 13
5 Clinique 10
6 Estee Lauder 06
7 M.A.C 27
8 Mother Care & Early Learning Centre (ELC) 40
Total 245

Source: Annual Report Shoppers Stop 2012-13,

http://corporate.shoppersstop.com/uploaded)files/89827ab-9eaf.pdf

3. Tata Group

Established in 1998, Trent - one of the subsidiaries of Tata Group - operates

Westside, a lifestyle retail chain and Star India Bazaar - a hypermarket with a large

assortment of products at the lowest prices. In 2005, it acquired Landmark, India's

largest book and music retailer. Trent has more than 4 lakh sq. ft. space across the

country. Tatas have also formed a subsidiary named Infiniti retail which consists of

Croma, a consumer electronics chain with 91 stores as on 31st March 2013.Titan

Industries another subsidiary of TATA owns brands like ―Titan‖, the watch of India,

Tanishq, the jewellery brand, Fastrack, Helios and Titan Eye collectively have969

stores. The retail turnover for the financial year 2012-13 for Titan Limited, Trent

Limited and Infiniti Retail Chroma amounts to Rs. 10206.36 crore, Rs.2132 crore and

Rs. 14,657.36 crore respectively. The following table incorporates various retail

chains owned and operated by Tata‘s.

41
 Table -1.12
Various Retail Chains Owned by TATA Group
No. of Stores ending
S.No. Types of Stores
March 2013

1 West side Department Stores 70

2 Star Bazaar Stores 15
3 Landmark Big Stores 19
4 Hotel Book Stores 07
Titan (includes Titan, Tanishq, Fastrack, Helios
5 969
&Titan Eye)
6 Zara Stores 06
7 Infiniti Retail- Chroma 91
TOTAL 1177

Source: Financial Statement Titan 2012-13; Financial Statement Trent 2012-13 ;

http:// www.mywestside.com/downloads/Sixty_First_Annual_Report_2012-13.pdf

4. RPG Group

It is one of India's largest industrial conglomerates, having head quarter

in Mumbai, India. It was established in 1979, and at first incorporated Phillips Carbon

Black, Asian Cables, Agarpara Jute and Murphy India. Today the RPG Group is

involved in diverse sectors of business, including power generation, power

transmission, information technology, retail, and entertainment. It made its first

entrants into organised food & grocery retail with Food-world stores in 1996 and then

formed an alliance with Dairy Farm International and launched health & glow

(pharmacy & beauty care) outlets. Now the alliance has dissolved and RPG has

Spencer‟s Hyper, Super, Daily and Express formats and Music World stores across

the country. Their turnover for the financial year 2010-11 was Rs. 1,056 crores.

Spencer‘s focuses on the verticals like fresh fruits and vegetables, food and grocery,

personal care, garments and fashion accessories, home and office essentials, electrical

42
and electronics. Spencer‘s is a popular destination for shoppers in India with hyper

markets and convenient stores catering to various shopping needs of its large

consumer base. Spencer‘s has retail footage of approximately 1million square feet and

over 220 Spencer‘s stores in 35 cities.

Table- 1.13
Various Retail Chains Owned by RPG Group
S.No. Types of Stores No. of Stores

1 Spencer‘s Neighbourhood Stores 184

2 Spencer‘s Hyper 29
3 Spencer‘s BHPC Store (Beverly Hills Polo Club) 14
Exclusive Outlet of AU Bon Pain Stores ( Casual Dining
4 06
& Bakery Stores)
5 Health and Glow 74
TOTAL 307

Source: http:// www.spencersretail.com; http:// www.healthandglow.in/outlets.html

5. Landmark Group

Micky 'Mukesh' Jagtiani is an Indian businessman, who owns the Dubai-

based Landmark retail-stores group, with over 600 stores in the Gulf, India, Pakistan,

China and Spain. Opened first store in Bahrain, 1973.Started LIFE TRUST, an NGO

which works in collaboration with the government in India, 2000.Gradually, the

company diversified into leisure, food, hotels and electronics and its own logistics and

distribution, today it employs around 24,000 people and has more than 840 stores

across the Gulf, India, China Spain and Pakistan. A new division named Lifestyle

International has emerged for their international brands business comprising Bossino,

Kappa and Springfield in their portfolio. Their retail mix includes Home solutions

43
(Home Centre), fashion (Lifestyle, Landmark International), value retailing (Max

Retail), hypermarkets & supermarkets (Max), kids entertainment (Funcity).

6. Piramal Group

The Piramals are a Mumbai-based business group. In September 1999, Piramal

Enterprises announced their arrival into retail with the launch of three retail concepts:

India's first true shopping mall of international standards, called Crossroads; a

lifestyle department store named Piramyd Megastore; and a family entertainment

centre known as Jammin. Piramyd Megastore. In 2001, the group entered the

business of food & grocery retail with the launch of TruMart supermarkets in Pune.

They have around 18 TruMart stores covering 1.90 lakh sq.ft. registering a turnover of

Rs 37.6 million in 2005. Pyramid Megastore‘s contributes more than 70% to their

retail mix with a turnover of Rs112.8 million. They plan to open 150 stores covering

75million sq.ft. of retail space in the next 5 years.

7. Bharti-Walmart Group

BhartiWalmart Private Limited is a joint venture between Bharti Enterprises, one of

India's leading business groups with interests in telecom, agri-business, insurance and

retail, and Walmart, the world‘s leading retailer, renowned for its efficiency and

expertise in logistics, supply chain management and sourcing. The joint venture is

establishing wholesale cash-and-carry and back-end supply chain management

operations in line with Government of India guidelines. Under the agreement, Bharti

and Walmart hold a 50:50 stake in BhartiWalmartPrivateLimited. The first wholesale

cash-and-carry facility named “Best Price Modern Wholesale” opened in Amritsar in

May 2009 and subsequently in Zirakpur (Near Chandigarh), Jalandhar, Kota, Bhopal,

Ludhiana, Raipur, Indore, Vijayawada, Meerut, Agra, Lucknow, Jammu, Guntur,

Aurangabad, Bathinda, Amravati, Hyderabad and Rajahmundry . Bharti Enterprises

44
and Wal-Mart called off their six year old relationship in October, 2013. Wal-Marts

eagerness to get a policy regime to its liking is said to be a reason behind the split.

8. Reliance Retail

Reliance Retail is a subsidiary of Reliance Group. Since its inception in 2006,

Reliance Retail Limited (RRL) has grown into an organisation that caters to millions

of customers, thousands of farmers and vendors. Based on its core growth strategy of

backward integration, RRL has made rapid progress towards building an entire value

chain starting from the farmers to the end consumers. They recorded revenue of Rs.

10,800 crores in the financial year 2012-13. Approximately 56 percent of his revenue

comes from its ‗value and other‘ segment that operates grocery chains Reliance Fresh,

Reliance super and Reliance Hyper. RRL has expanded its presence in more than 85

cities across 14 states in India. RRL forged ahead with its expansion plans and rolled

out stores across the country. RRL operates several ‗value‘ and ‗speciality‘ formats.

The ‗value‘ formats that RRL operates are: „Reliance Fresh‟, a neighbourhood

concept, „Reliance Mart‟, an all under one roof supermarket concept and „Reliance

Super‟, a mini-mart concept. The „value‟ formats offer a wide range and assortment

of products required for daily household needs.

The ‗specialty‘ formats are: „Reliance Digital‟, a consumer durables & information

technology concept, „Reliance Trends‟, an apparel & accessories concept, „Reliance

Wellness‟, a health, wellness & beauty concept, „iStore by Reliance Digital‟, an

exclusive Apple products concept, „Reliance Footprint‟, a footwear concept,

„Reliance Jewels‟, a jewellery concept, „Reliance TimeOut‟, a books, music &

entertainment concept, „Reliance AutoZone‟, an automotive products & services

concept and „Reliance Living‟, a home ware, furniture, modular kitchens, furnishings

concept.

45
RRL rapidly expanded the stores network it operates through strategic partnerships

with world-class companies such as Marks & Spencer and Pearl Europe. RRL also

entered into an exclusive distribution arrangement with Asics Corporation Japan to

market Asics brands of shoes and accessories in India. RRL has recently opened its

flagship store under its franchise agreement with Hamleys and plans to expand the

store network in the coming year. RRL has also expanded its presence in business-to-

business office supplies through its joint venture with Office Depot. The following

table incorporates the various retail chains owned by Reliance Retail Ltd.

Table -1.14
Various retail Chains of Reliance Retail Ltd.
S.No. Reliance Stores No. of Stores
1 Reliance Fresh 1300
2 Reliance Digital 139
3 Reliance Trends 91
4 Reliance Footprints 148
5 Reliance Timeout 30
6 RelianceJewels 54
Total 1762

Source: http://www.reliancefootprints.com, http://www.reliancetimeout.com,

http://reliancejewels.com, http://reliancefresh.info/information.html

9. AV Birla Group

The Group‘s foray into the retail sector began in December 2006 when it acquired

Trinethra, the chain of stores based in south India. May 2007 saw Aditya Birla Retail

Limited (ABRL) launch their own brand of stores called 'More.‘ Currently, the

company had set up 640 supermarkets and 16 hypermarkets. All the supermarkets are

branded More and the hypermarkets are branded More Megastore. The company has

around 11,000 employees and has a pan-India presence. The hypermarkets are self-

service superstores offering value and range in food and non-food products and

services at a single location their own brand of stores called 'More‘. They have a
46
strong presence in apparel retailing through Madura garments which is subsidiary of

Aditya Birla Nuvo Ltd. They own brands like Louis Phillipe, Van Heusen, Allen

Solly, Peter England, Trouser town with revenue of Rs.3802 crores for the financial

year ending 31st March 2013.

In May 2009 Aditya Birla Retail introduced a value proposition for its supermarket

and encapsulated it into a promise of giving its customer ―Hamesha Extra‖ which

resonated with the consumer. ―Hamesha Extra‖ is the core essence of more. It means

customers will always feel that they have got something extra while shopping at

More. Within a span of three years, More has a strong membership base of over 3

million members as a part of its loyalty program. More has also launched a huge

range of private labels in food and grocery, staples and apparel which have already

obtained a significant share of category as well as salience with the consumer.

AdityaBirla Retail Ltd. was presented with the ―Master Brand Award 2012‖ by the

World Brand Congress on 14th February 2012 in Mumbai.

Aditya Birla Group has recently takeover Pantaloons‘ Fashion & Retail Limited from

Future Group. The company offers an incredible and complete one-stop shopping

experience to its buyers through its vast collection of more than 100 prestigious

brands for discerning fashionist. The 75 aesthetically designed stores spread across

the country display a range of classy and trendy merchandise that truly lives up to

Pantaloons‘ maxim of ‗fresh fashion‘. The revenue for the financial year 2012-13

(including pantaloon business format) was Rs. 1,285 crores.

Table-1.15
Various Retail Chains Owned by A.V. Birla Group
S.No. Types of Stores No. of Stores

1 Madura Fashion & Lifestyle (Department Store) 300

2 Madura Fashion & Lifestyle ( Multi Brand Outlet) 1300
3 Aditya Birla Retail Limited (Super Markets) 512
47
 4 Aditya Birla Retail Limited (Hyper Markets) 16
5 Pantaloons Fashion & Retail Limited 75
TOTAL 2203

Source: http://www.adityabirlanuvo.net/investors/downloads/Nuvo _ annual _ report

_ 2012-13.pp23, http:// www. Adityabirla . com; http:// www. pantaloons s . com /

images/pdf/Pantaloon-AR-2013.pdf

Classification of Indian Retail Sector:

The overall retail market in divided into following sections as shown in figure 1.9. In

2012, Food and Grocery accounted for nearly 60 per cent of total revenues in the

retail sector.

Market Breakup of Retail into Various Segment

Figure – 1.9

Source: http://www.ibef.org/industry/retail-india.aspx

A) Food and Grocery Retailers

Retail market for food and grocery is the largest of the different types of retail

industries present in India. There are numerous and variety of retailers in the food-

retailing sector. Conventional sort of retailers, who operate small single-outlet,

48
businesses predominantly utilizing family labour, dominate this sector. In comparison,

super markets account for a small proportion of food sales in India, however the

growth rate of super market sales has being significant in recent years because

greater numbers of higher income Indians prefer to shop at super markets due to higher

standards of hygiene and appealing ambience. Food consumption in India is

approximately Rs. 9,000 billion, with the total urban consumption being around Rs.

3,300 billion. This implies that aggregate revenues large food player is currently 5 %

of the total Indian market, and around 15-20 % of total urban food consumption.

According to McKinsey report, the share of an Indian household‘s spending on food is

highest in the world, with 48% of income being spent on the food and beverages.

Driven by the growth of organised retail coupled with changing consumer habits, food

retail sector in India is set to be more than double to US$ 150 billion by 2025,

according to a report by KPMG.

B) Apparel and Footwear

Various garments and footwear shops in malls and markets operate all over India.

Customary traditional outlets stock a limited range of cheap and popular items;

conversely, modern clothing and footwear stores have modern products and alluring

displays to draw customers. However, with rapid urbanization, and changing patterns

of consumer tastes and preferences, it is unlikely that the traditional outlets will survive

the test of time.

C) Home Furniture & Household Goods

Small retailers again overwhelm this sector. Regardless of the vast size of this market,

very few large and modern retailers have established specialized stores for these

products. However there is extensive potential for the entry or expansion of specialized

retail chains in the country.

49
D) Durable Goods

The Indian durable goods sector has seen the entry of a large number of foreign

companies amid the post liberalization period. A more prominent variety of consumer

electronic items and household appliances became available to the Indian customer.

Extreme competition among companies to sell their brands provided a strong impetus

to the growth for retailers doing business in this sector.

E) Leisure & Personal Goods

Increasing household incomes due to better economic opportunities have encouraged

consumer expenditure on leisure and personal goods in the country. There are

specialized retailers for each category of products (books, music products, etc.) in this

sector. Another noticeable element of this segment is prominence of franchising

agreements between established manufacturers and retailers.

Today‘s trend is development of integrated retail cum Entertainment centres or

shopping malls. An increasing number of retailers are focusing on malls now as

opposed to stand-alone developments. While the number of shopping malls has seen a

gigantic surge in the recent past in the metros and their suburbs, the latest trend in

this sector is the increasing focus on providing leisure activities such as

multiplexes, facilities for kids' entertainment etc. within the mall premises.

Customer like less the time devours on purchasing and more entertainment with his

family in malls as these are enclosed, air-conditioned, multi-level with at least

100,00sq ft. space. The most popular Indian destination include Shoppers' Stop,

Globus, Pantaloon, Lifestyle and hypermarkets like Big Bazaar and Giant. Cinemas

also often anchor malls.

50
RETAILING IN RAJASTHAN

Rajasthan is the largest State in the country, and presents a unique combination of

topographical and cultural diversity. It is predominantly an agrarian economy with

agriculture and related activities accounting for about one-third the State's income.

However, the recent wave of industrialisation has brought about a change in

Rajasthan‘s economic landscape and new industries are coming up in the State.

Rajasthan currently has a marked presence in the Tourism and Hospitality,

Handicrafts, Textiles, Engineering, Gems & Jewellery, Minerals, Marble, Oil& Gas

and Retail.

Rajasthan Economy is the 8th biggest economy in India with the Net State Domestic

Product (NSDP) of more than US$ 11.5 billion. The Economy of Rajasthan grew at a

Compounded Average Growth Rate (CAGR) of around 6% during the years 1994 to

2003.

Rajasthan's economy vis-a-vis India's economy

Figure: 1.10

Source: Rajasthan Government Report, Mapping of Human Resource and Skill Requirement-
2015

51
In the pre-1990s, Rajasthan‘s economy was principally agrarian, with agriculture

representing for more than 50% of the share of the primary sector. Industrial activity

was restricted to Jaipur, Bhilwara, Alwar and Jodhpur, and Ganganagar and

Chittorgarh grew as agro-processing and cement producing centres. The industrial

landscape then consisted of small scale industries. Post-2003 however a vast change

was seen. The high growth phase started after the announcement of the New Industrial

Policy, which prompted increased investments in large and medium scale industries.

The secondary sector showed rapid growth, followed by the tertiary sector, while

sectors like information technology and information technology enabled services and

Retail also emerged. Within the secondary sector, manufacturing and construction

have an 87% contribution; manufacturing has witnessed the highest growth during the

last few years. In the tertiary sector, trade, hotels, restaurants and transport have the

highest contribution.

The changing structure of Rajasthan's economy

Figure: 1.11
Source: Rajasthan Government Report , Mapping of Human Resource and Skill

Requirement-2015

52
Indian retail industry has seen phenomenal growth in the last 5 years. Organized

retailing is now contributing significantly to the growth of the Indian retail sector. The

same trend is visible in Rajasthan and with growing purchasing power, the State is

throwing open a tremendous opportunity. The emerging cities and overall economic

boom have attracted top retail brands and chain stores to Rajasthan.

Major Players in Rajasthan:

Reliance

Reliance is one of the biggest players in Rajasthan retail industry. More than 50

Reliance Fresh stores and Reliance Mart have been started in last 5years or less.

AV Birla Group

AV Birla Group has a strong presence in Indian apparel retailing. The brands like

Louis Phillipe, Allen Solly, Van Heusen, and Peter England are quite popular. It‘s

also investing in other segments of retail.

Future Group

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of

India‘s leading business houses with multiple businesses spanning across the

consumption space. The brands like Big Bazaar, Future Bazaar, are popular in various

cities of Rajasthan.

In addition, Vishal Mega mart, Hyper city, and many others have their stores in

Rajasthan.

53
Policy/Incentives:

Various incentives/concessions are available to promote industrial ventures of this

sector:

Under Rajasthan Investment Promotion Scheme 2010,

 100s% FDI allowed for Single Brand Retail with prior Govt. approval

 Franchise Agreement format allowed

 Foreign companies can enter into licensing agreement with the domestic players.

Rajasthan's Investment Environment

The Government of Rajasthan believes that private venture can assume a vital part in

the socio-economic development of the State and in the creation of employment for

people. It is making significant studies towards enhancing the business environment

and empowering private investment in various sectors. A comprehensive Industrial

and Investment Promotion Policy was launched by the Government in 2010. This

addresses extensive variety of issues such as infrastructure development, ease of

investing, human resources development and land availability. The State Government

also introduced a statutory Single Window System (SWS) and an online electronic

clearance mechanism for time bound approvals for investment approvals.

54
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