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Retail The Booming Sector

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Retail The Booming Sector

  1. 1. Retail - The booming Sector Vishal V. Wadekar
  2. 2. Overview <ul><li>The size of retail market in India was about US$ 180 billion in 2003. </li></ul><ul><li>This sector accounts for about 13% of country’s GDP and provides employment to about 6% of workfoce. </li></ul><ul><li>The share of organized retail in the total retail sales is abut 3-5% and is expected to grow to 10-15% by 2010. </li></ul><ul><li>The current organized sector retailers use systematic marketing concepts and tools. </li></ul>
  3. 3. Retailing <ul><li>Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. </li></ul><ul><li>A retailer or retail store is any business enterprises whose sales volume comes primarily from retailing. </li></ul>
  4. 4. Industry Evolution in India <ul><li>Traditionally retailing in India can be traced to </li></ul><ul><ul><li>The emergence of the neighborhood ‘Kirana’ stores catering to the convenience of the consumers </li></ul></ul><ul><ul><li>Era of government support for rural retail: Indigenous franchise model of store chains run by Khadi & Village Industries Commission </li></ul></ul><ul><li>1980s experienced slow change as India began to open up economy. </li></ul><ul><li>Textiles sector with companies like Bombay Dyeing, Raymond's, S Kumar's and Grasim first saw the emergence of retail chains. </li></ul><ul><li>Later Titan successfully created an organized retailing concept and established a series of showrooms for its premium watches. </li></ul><ul><li>The latter half of the 1990s saw a fresh wave of entrants with a shift from Manufactures to Pure Retailers. </li></ul><ul><li>For e.g. Food World, Subhiksha and Nilgiris in food and FMCG; Planet M and Music World in music; Crossword and Fountainhead in books. </li></ul><ul><li>Emergence of hyper and super markets trying to provide customer with 3 V’s - Value, Variety and Volume </li></ul>
  5. 5. General Retail Strategy
  6. 6. Types of retailers <ul><li>Specialty Store. </li></ul><ul><li>Department Store. </li></ul><ul><li>Supermarket. </li></ul><ul><li>Convenience Store. </li></ul><ul><li>Discount Store. </li></ul><ul><li>Off Price Retailer. </li></ul><ul><li>Superstore. </li></ul><ul><li>Catalog Showroom. </li></ul>
  7. 7. Size of the Economy <ul><li>Sources </li></ul><ul><li>2006 GDP :Central Statistical Organization (CS0) </li></ul><ul><li>Growth Rates :Goldman Sach’s BRIC report </li></ul><ul><li>(For details please refer to the appendix of this presentation) </li></ul>Fiscal Year GDP at current prices (US$ Billion) 2005-6 804 2009-10 1133 2014-15 1721
  8. 8. Growing Retail Market in the world 2006 2010 2015 Source :Technopak Analysis
  9. 9. Key Trends Impacting The Market… <ul><li>Urbanization? </li></ul><ul><ul><li>How rapid is it going to be? </li></ul></ul><ul><ul><li>What is the likely impact on consumption and its growth/trends? </li></ul></ul><ul><li>Changing family structures? </li></ul><ul><ul><li>What is the future family structure? </li></ul></ul><ul><ul><li>How is it going to impact shopping behavior? </li></ul></ul><ul><ul><li>How is it going to impact the spending power and hence consumption? </li></ul></ul><ul><li>Demographic Changes? </li></ul><ul><ul><li>What would be the demographic structure of India in next 5, 10, 15 years? </li></ul></ul><ul><ul><li>How is it going to impact shopping behavior? </li></ul></ul><ul><ul><li>How is it going to impact the spending power and hence consumption? </li></ul></ul>
  10. 10. <ul><li>The share of organized retail is less than 3% of the total retail market </li></ul><ul><li>The size of modern retail is about US$ 8 Billion and has grown by 35% CAGR in last five years </li></ul>Current Channels : Organized Retail
  11. 11. Revolution in “Demand”
  12. 12. Fortune 100 Ranking
  13. 13. Organized Retail – Country wise
  14. 14. Organized Retail – Product Wise
  15. 15. Penetration
  16. 16. Perception – Personal Finances <ul><li>Source:AC Nielsen-ORG </li></ul>
  17. 17. Retailers Position <ul><li>Retailers can position themselves as offering one of the four levels of service. </li></ul><ul><li>Self Service. </li></ul><ul><li>Self Selection. </li></ul><ul><li>Limited Service. </li></ul><ul><li>Full Service. </li></ul>
  18. 18. Nonstore retailing category <ul><li>Nonstore retailing falls into four major categories: </li></ul><ul><li>Direct Selling: (Multilevel selling) </li></ul><ul><li>Eg: Amway E,ureka Forbes </li></ul><ul><li>Direct Marketing: (Telemarketing and Internet Selling) </li></ul><ul><li>Eg:, </li></ul><ul><li>Automatic Vending: (ATMs) </li></ul><ul><li>Eg: Pepsi dispenser Machine. </li></ul><ul><li>Buying Service: (Servicing specific clientel) </li></ul>
  19. 19. Tips for stores to sell <ul><li>Attract shoppers and keep them in the store. </li></ul><ul><li>Honor the “transition zone”. </li></ul><ul><li>Don’t make them hunt. </li></ul><ul><li>Make Merchandize available to the reach and touch. </li></ul><ul><li>Men do not ask questions. </li></ul><ul><li>Women need space. </li></ul><ul><li>Make checkout easy. </li></ul><ul><li>Source: Paco Underhill, Why people Buy </li></ul>
  20. 20. Service Mix <ul><li>Purchase Service </li></ul><ul><li>Eg: Accepting telephone bills (Easy bills) </li></ul><ul><li>PostPurchase Service </li></ul><ul><li>Eg: Gift Wrapping (Gift Counter “Big Bazar”) </li></ul><ul><li>Ancillary Service </li></ul><ul><li>Eg: Baby attendant service </li></ul>
  21. 21. Trends in Retailing <ul><li>Selling an experience, not just goods. </li></ul><ul><li>Presence of major global retailers. </li></ul><ul><li>Growth of organized retail. </li></ul><ul><li>Growth of Intertype competition. </li></ul><ul><li>New Retail Forms and Combination. </li></ul>
  22. 22. Source <ul><li>Techno pak </li></ul><ul><li>Economic Times </li></ul><ul><li>Philip Kotler (Marketing Managent) </li></ul>