2. Retailing
Definition : “Retailing includes all activities
involved in selling goods or services directly to
final consumers for personal , non business
use.”
- Philip Kotler
Retail comes from French word TAILER. It was
added to dictionary as noun with meaning
“sale in small quantities” in 1433.
3. Retailing In Past
Characteristics:
Traditional unorganized sector
Only local grocery shops called “KIRANAS” are available
Apart from them local fairs, hawkers, pavement vendors
No standard patterns for selling were followed
Retailers characteristics:
Not educated or merely educated
Family customs
Consumers characteristics:
Awareness levels were low
Family sizes were big so incomes were low spending is low
Choices were less
4. Retailing At Present
Characteristics:
Both organized and unorganized sector
Still more than 90% is unorganized sector
Multi braded retailing is the running trend
Retailers characteristics:
Organized sellers follow well-defined selling, supply chain
models, highly skilled employees
corporate’s have entered the retail industry
Online retailing is occupying a good market share
Consumers characteristics:
Perspective has changed, retail stores have no more restricted
to necessity shopping
Family disposable incomes have increased so shopping has
become a recreation and hobby
5. Retailing In Future
Characteristics:
Promising sectors likely to grow in future are
fashion, life style, food & groceries
100% FDI in retailing projects a better future
Competition would benefit the customers
E-commerce and M-commerce play a major role in
retailing
Organized sector will be in a growing trend where
as un organized sector will loose its market share
6. Retailing In Future
Retailers characteristics:
Retailers will be looking for employees who have good
leadership skills, detailed understanding of CRM &
supplychain concepts
Retailers should have ability to communicate with
global customers
Consumers characteristics:
Futures consumers will be more aware and demanding
Environmental concerns and corporate social
responsibilities of retailers play a dominating role in
choosing them by the consumers
7. FACTS
The over all retail sales in india will grow from US$
450 to US$ 785.12 billions by 2015( The Times Of
India)
Indian retail industry is expected to reach 1.3 trillion
by 2020.(IBEF)
Indian retail sector accounts 22% of total GDP &
contributes 8% of total employment