This implies eye-catching displays can do wonders to brand sales. The time to shift the gears and accelerate the pace of retail development has arrived and it is up to retailers and potential investors to get their show on the roads.
It is located at a place close to Shahjahanpur, km from Lucknow. Plenty of opportunity exists and the formidable task is to tap this opportunity, in a unique country like India.
This is mostly due to the proximity to homes and personal service of local stores. Sincethe government has barred foreign participation in the retail sector, except for the cash-and-carry wholesale route where wholesalers cannot open retail shops to sell to consumers directly, percent foreign ownership is permitted, and for franchising.
Raheja Group company, started its operations in with a mega retail store in Andheri, Mumbai. Also literacy rates in villages have increased considerably, thus bringing about a shift in consumer tastes.
It is a retail store that specifically caters to rural people. It has targeted the farmers supplying sugarcane to the sugar mill next door as the main customer.
Retail may soon see FDI coming in. What is missing is a clear connection to Indian realities. The retail outlet must fit the profile for the display strategy. These self-service stores stock a wide range of groceries, snacks, processed foods, confectionery items, and cleaning and personal care products.
In addition to providing functional products, it also provides farmers with certain other value added services like computerized transactions, touch-screen info kiosk, technical advisory services. The retail industry in India is enjoying boom time and job opportunities in retailing have been increasing.
Sales force must be aware of the objective of the display and the retailer must share the same. There should be a clear-cut vision and perseverance to dig in their heels and wait for the returns that will kick in only a few years later.
In urban India, families are experiencing growth in income and dearth of time. This means even a new brand backed by good schemes and reasonable price can find favor with the customer. One of the executives of Shoppers Stop Mr. Some retailers are doing this and have massive expansion plans in place.
More and more women are also turning to corporate jobs, which is adding to the family income but making lifestyles extremely busy. The huge potential can be tapped if the following three aspects are stressed: Major Regulations and Licenses Required: Thus, whoever would follow their footsteps and go for retailing in the rural areas stand to gain a lot.
Higher-income consumers focus more on convenience and quality. There is a strong lobby of small traders that has been vocal on the issue of not permitting FDI into retail. Displays scored better than retailer suggestion. The height of display must be such that it meets the eye level of customer.
Self-serve supermarkets are a more recent phenomenon in India. It is almost doubly important than retailer suggestion push.
Even the current consumption of certain durables and non- durables by rural customers is more than that of urban consumers. It is one of the major retailers in India with 13 stores across the country out of which 5 are operational in Mumbai.
Indian retailing is currently largely urban and based on models emulated from the US.The study includes growth of retail sector in India, strategies, strength and opportunities of retail stores, retail format in India, recent trends, and opportunities and challenges.
This study concludes with the likely impact of the entry of global players into the Indian retailing industry.
India is ranked first in the Global Retail Development Indexbacked by rising middle class and rapidly growing consumer spending; India’s retail market witnessed investments worth US$ million by Private Equity (PE) firms and wealth funds in Report Store. A comprehensive online hub for syndicated research reports covering a wide spectrum of industries, focused on Indian markets.
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started to enter India‟s retail market. According to the Investment Commission of India, the retail sector is comparative study and analytical logic developed through the understandings from various research papers, reports, books, journals, newspapers and online data bases. The Opportunities and Challenges of FDI in Retail in India.Download