In the name of retailing, the unorganized retailing has Recent trends in indian retail industry marketing essay the Indian landscape so far. This help to develop customer relationship management and retaining the customers. Observation method used in organized outlets.
Reasonable real estate prices, double household income, increased presence of MNCs and industrial boom has led to the emergence of new residential societies resulting in increased purchasing power and demands for day- to-day goods under one roof.
Retail may soon see FDI coming in. A strong impetus to the growth of retail industry is witnessed by economic boom and driver of key trends in urban as well as rural India. This has made retailing the most attractive sector of the Indian economy. In urban India, families are experiencing growth in income and dearth of time.
Organized Stores retail malls B Unorganized stores departmental store or kirana store Interpretation: It is one of the major retailers in India with 13 Recent trends in indian retail industry marketing essay across the country out of which 5 are operational in Mumbai.
A year ago — malls. The Food Retail Industry in India dominates the shopping basket. All key elements of design and merchandising must be coordinated to get the right effect. It has targeted the farmers supplying sugarcane to the sugar mill next door as the main customer.
Retail growth in the coming five years is expected to be stronger than GDP growth, driven by changing lifestyles and by strong income growth, which in turn will be supported by favorable demographic patterns and the extent to which organized retailers succeed in reaching lower down the income scale to reach potential consumers towards the bottom of the consumer pyramid.
No one single format can be assumed as there is a huge difference in cultures regionallyThe most encouraging format now would be the hypermartsThe hypermart format would be further encouraged with the entry of the TNCs.
Use of credit and debit cards for buying merchandise is relatively a new phenomenon but is gaining popularity immensely. The South Indian states are one step ahead when it comes to shopping in the supermarkets for day-to-day needs and also have been influencing other states where supermarkets are being established.
The relaxation by the government on regulatory controls on foreign direct investments has added to the process of the growth of the Indian organized retail sector. Stores trying to emulate the model of Wal-Mart. Barriers to FDI which limits entry of global players and limits exposure to best international practices.
Lack of industry status which restricts financing and therefore the growth and scaling is limited. As now days the Indian retail sector is merging with the big players like MNCs and these mergers are bringing the new trends in the retail sector of India.
They provide proper segmentation of their product according to various parameters. In recent years, a few retail chains specialized products have come into the market. This requires enough store size, traffic flow, and revenue earned, but besides these factors, retailers have started concentrating on recruiting qualified and trained retail staff.
Retailers benefit only if consumers perceive their store brands to have consistent and comparable quality and availability in relation to branded products. Following are the areas where specialized skills are increasingly felt: Use of Plastic Money: The Indian retail sector is estimated at around Rupeescrore, of which the organized sector accounts for a mere 2 per cent indicating a huge potential market opportunity that is lying in the waiting for the consumer-savvy organized retailer.
The high standard of customer service and simplified low price purchase process in the retail industry has resulted in the increased demand and growth of retail chains and outlets which is bringing new emerging trends in market. In India, the retail sector is the second largest employer after agriculture.
In India, as we are moving to the next phase of retail development, each endeavor to offer experiential shopping. Newer and newer promotional techniques are emerging.
And as the government is in a process to initiate a second phase of reforms, it is cautiously exploring the avenues for multi-brand segment. Thanks to increased public transportation, better roads, highways and an overall improvement in the transportation infrastructure that has enabled customers to visit from one place to another smoothly than ever before.The Indian retail industry is one of the fastest growing in the world.
Retail industry in India is expected to grow to US$ trillion by from US$ billion in India is the fifth largest preferred retail destination globally. Current Health Care Marketing Techniques and Trends Current Health Care Marketing Techniques and Trends: In past few decades, the nature of marketing in the health care industry has changed significantly because of the recent developments that have contributed to the need to develop innovative marketing techniques and trends.
The retail industry in India is witnessing a high level of organized business activity CRM, supply chain management, visual merchandising & customer loyalty programs are now buzzwords in the industry.
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. The paper includes growth of retail sector in India, strategies, strength and opportunities of retail stores, retail format in India, recent trends, and opportunities and challenges.
BUSINESS MANAGEMENT RETAIL INDUSTRY Historically, the high street has been the obvious place for the consumer to shop however in more recent times out-of-town shopping centres and the internet are becoming increasingly popular.Download