Growth of Retailing in India Synopsis

8/13/2019 Growth of Retailing in India Synopsis

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SYNOPSIS

ON

GROWTH OF RETAILING IN

INDIA

Under the guidance of Su!"itted !#

$r% Ra&ee' (u"ar Na"e Radha (ati#ar

Facu)t# *Retai)+ $,c F"r" *-./-0-./1+

De2art"ent of Retai) $anage"ent Enro))"ent No

FOOTWEAR DESIGN 3 DE4ELOP$ENT INSTITUTE$ini,tr# of 5o""erce 3 Indu,tr#6 *Go't% of India+6 Rohta7

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A5(NOWLEDGE$ENT

.

I would like to take this opportunity to thank the following people who have directly orindirectly contributed towards the completion of this dissertation and without their help

this in the present form would have not been possible.

I am very much thankful to $r% Ra&ee' 7u"ar6 Faculty Guide for giving me opportunity

to work on such a nice Synopsis as my Synopsis. And last but not the least my special

thanks to my parents without their support my PS! G"A#$A!% #IP&'A I(

'A(AG%'%(! course would not have been possible.

RADHA (ATIYAR

)


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TA8LE OF 5ONTENTS

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RETAIL SE5TOR AN INTRODU5TION

SI=E

India is one of the ten largest retail markets in the world

"etail sales were ;)


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RETAIL 4ALUE PROPOSITIONS9

!he value proposition that retail offers to a consumer is easy availability of the desired

product in the desired siBe at the desired time.

RETAILING IN INDIA > (EY POINTS

!otal *onsumer Spend in the -ear at I(" )2< billion E$S# )


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S5OPE OF THE STUDY

!he study will focus on the growth of retail industry particularly in the fast growing

economy of India. It will further put light on the consumer perception 7 their changingdressing= eating= spending habit of Indian consumers= which has brought shopping mall

culture in the country. 'oreover it will focus on the growing opportunities for domestic

companies as well as for foreign companies


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LITERATURE

RETAIL SE5TOR AN INTRODU5TION

SI=E

India is one of the ten largest retail markets in the world

"etail sales were ;)


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RESEAR5H $ETHODOLOGY

A research process consists of stages or steps that guide the Synopsis from its conceptionthrough the final analysis= recommendations and ultimate actions. !he research process

provides a systematic= planned approach to the research Synopsis and ensures that all

aspects of the research Synopsis are consistent with each other.

INTRODU5TION

!his chapter aims to understand the research methodology establishing a framework of

evaluation and revaluation of primary and secondary research. !he techniDues and

concepts used during primary research in order to arrive at findings= which are also dealt

with and lead to a logical deduction towards the analysis and results.

RESEAR5H DESIGN

I propose to first conduct a intensive secondary research to understand the full impact and

implication of the retail industry= to review and critiDue the industry norms and reports=

on which certain issues shall be selected= which I feel remain unanswered or liable to

change= this shall be further taken up in the net stage of eploratory research. !his stage

shall help me to restrict and select only the important Duestion and issue= which inhabit

growth and segmentation in the industry.

!he various tasks that I have undertaken in the research design process are 9

#efining the information need.

#esign the eploratory= descriptive and causal research.

Follow each step one by one and conclude the research.

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RESEAR5H PRO5ESS

!he research process has four distinct yet interrelated steps for research analysis

It has a logical and hierarchical ordering9

#etermination of information research problem.

J#evelopment of appropriate research design.

J%ecution of research design.

J*ommunication of results.

E?PLORATORY RESEAR5H

!he data I used for eploratory research was

Primary #ata

Secondary data

PRI$ARY DATA

(ew data gathered to help solve the problem at hand. As compared to secondary data

which is previously gathered data. An eample is information gathered by a

Duestionnaire.

SE5ONDARY DATA

Information that already eists somewhere= having been collected for another

purpose.Sources include census reports= trade publications= and subscription

services.#ata that have already been collected and published for another research

Synopsis Eother than the one at hand.

There are t@o t#2e, of ,econdar# data interna) and eterna) ,econdar# data%

H


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DATA 5OLLE5TION

#ata collection took place with the help of filling of Duestionnaires. !he Duestionnaire

method has come to the more widely used and economical means of data collection. !he

common factor in all varieties of the Duestionnaire method is this reliance on verbal

responses to Duestions= written or oral. I found it essential to make sure the Duestionnaire

was easy to read and understand to all spectrums of people in the sample. It was also

important as researcher to respect the samples time and energy hence the Duestionnaire

was designed in such a way= that its administration would not eceed ,@: mins. !hese

Duestionnaires were personally administered.

!he respondents were contacted at shopping malls= markets= places that were near to

showrooms of the consumer durable products etc. !he data was collected by interacting

with 1


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5ON5LUSION

!he Indian retail sector is witnessing tremendous growth with the changing

demographics and an increase in the Duality of life of urban people. At this moment= it is

still premature to say that the Indian retail market will replicate the success stories of

names such as 0alt@'art Stores= Sainsbury and !esco but at least the winds are blowing

in the direction of growth.

"etailing in India is gradually inching its way toward becoming the net boom industry.

!he whole concept of shopping has altered in terms of format and consumer buying

behavior= ushering in a revolution in shopping in India. 'odern retail has entered India as

seen in sprawling shopping centres= multi@storeyed malls and huge complees offershopping= entertainment and food all under one roof. !he Indian retailing sector is at an

infleion point where the growth of organiBed retailing and growth in the consumption by

the Indian population is going to take a higher growth traectory. A large young working

population with median age of ), years= nuclear families in urban areas= along with

increasing workingwomen population and emerging opportunities in the services sector

are going to be the key growth drivers of the organiBed retail sector in India.

!he Indian consumer is dressing up= eating= spending= like never before. And helping

him look good = ready to eat= leather products are the hugely successful brands. 6uick to

adapt to current trends and the latest in fashion and completely in sync with customersK

wants= these highly versatile brands have given a bold new shape to whether the ready@

to@wear apparel industry= leather industry= Gems and 4ewellery Industry Indian consumer

is showing an increasing fascination for branded wear= ornaments= leather products. !he

reasons are clear @ one= the increased disposable income of Indian households and two=

the fast paced changes in the leather= apparel= food industries. !odayKs customers are

fussier than ever before @ they are more aware of current trends= are totally in sync with

the latest in fashion and demand the best products as well as service at an affordable

price.

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!o encash this growing and changed demand of Indian consumers= many garment

manufacturing companies are opening up their retail outlets. *ompanies like "aymond=

&evis= Pantaloon= %bony= 4ohn Player= &ifestyle= Shoppers Stop= !*(S *lothing= Spykar=

PiBBa +ut= 'c #onald= #!* #iamond= !anishDE A !A!A productetc. already have their

retail stores at various part of the country.

As the sector is growing many foreign companies are eying to enter into the retail market

and specially in the apparel sector. It was difficult for them to directly enter into Indian

retail sector earlier= but now as the F#I in the sector has been allowed up to :1> it has

opened up the sector for the foreign companies to set up their business .

Perception of the consumer towards the retails also goods. !hey are ready to adopt the

L'all *ultureM and they are also ready to change according to that culture. "etailers also

use so many promotional tools to attract the consumers.

1)


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RE5O$$ENDATIONS

FDI IN RETAIL E4OL4ING AN INDIA0SPE5IFI5 $ODEL

pinions on F#I were divided at the IFF symposium. L!he Government of India would

be wise not to open the doors to foreign retail too wide as it is better to develop IndiaKs

own modern retail model than give away the businesses to global retailers like 0al@'art

and !esco.M selective approach in allowing F#I= which could be directed towards9

$a)) De'e)o2"ent

Sho22ing 5entre de'e)o2"ent and "anage"ent

Luur# retai)ing

Life,t#)e !rand retai)ing

Life,t#)e 2roduct, and !rand, "anufactured in India

INDUSTRY STATUS TO RETAIL

!he wish list of retailers included setting up single window clearance and the demand for

according industry status to retail was high on their agenda. 3.S. (agesh earlier said=

NIndian retail has no parentage in the Government of India. 0e do not know which

'inistry to report to. !he Government should grant us industry status.N !o this= Oamal

(ath replied9 L!he "etail sector is already in a position whereby it can decide which

ministry it wishes to adopt= rather than asking the government to adopt retail as an

industry.

6uoting from the Images@OSA "etail "eport contained in the I'AG%S -%A" 3O

)


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LI$ITATION

FUTURE S5OPE FOR STUDY

Advances in technology= like the Internet= have helped make retailing an even more

challenging and eciting field in recent years. !he nature of the business and the way

retailing is done are currently undergoing fundamental changes. +owever= retailing in

some form will always be necessary. For eample= even though the Internet is beginning

to make it possible for manufacturers to sell directly to consumers= the very vastness of

cyberspace will still make it very difficult for a consumer to purchase every product he or

she uses directly. n@line retailers= like AmaBon.com= bring together assortments of

products for consumers to buy in the same way that bricks@and@mortar retailers do.

In addition= traditional retailers with physical stores will continue to be necessary. f

course= retailers who offer personal services= like hair styling= will need to have face@to@

face interaction with the consumer. 3ut even with products= consumers often want to see=

touch and try them before they buy. r= they may want products immediately and wonKt

want to wait for them to be shipped. Also= and perhaps most importantly= in many cases

the eperience of visiting the retailer is an important part of the purchase. %verything

that the retailer can do to make the shopping eperience pleasurable and fun can help

ensure that customers come back.

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8I8LIOGRAPHY

PRI$ARY DATA

6$%S!I(AI"%

NEWSPAPER 3 $AGA=INES

!he %conomic !imes

!he Financial %press

3usiness Standard

8OO(S

"etail 'arketing Sullivan 7 Adcock

"etail 'anagement EA Strategic Approach 3arry 3erman 7 4oel ". %vans

REFEREN5ES

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www.economictimes.com

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Growth of Retailing in India Synopsis

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