Retail - derived from the French word retaillier, which means to cut off a piece or to break bulk. Retailer - defined as a dealer or a trader who sells goods in small quantities or who repeats or relates Retailing - considered as the last stage in the movement of goods or services to the consumer.
“Indian retailing is the least competitive and least saturated of all global market.”
Historic/Rural Traditional/Pervasive Government Modern Formats/ Reach Reach Supported International Exclusive Brand Outlets Hyper/Super Markets Department Stores Shopping Malls PDS Outlets Khadi Stores Cooperatives Convenience Stores Mom and Pop/KiranasWeekly MarketsVillage FairsMelas Availability/ Low Shopping Source of Neighborhood Costs / Distribution Experience/Efficiency Entertainment Stores/Convenience
Unorganized market: Rs.583,000 crores Organized market: Rs.5,000 crores 5X growth in organized retailing between 2000-2005 Over 4,000 new modern retail outlets in the last 3 years
Country’s second largest opportunity for the organized retailers $250m - $500m in sales 90% of Indias retail garment industry operates in the unorganized sector
Retailer Current Targeted Floor Space Outlets Turnover Turnover 2004-2005 ( By 2005) (Rs. Crore) (Rs. Crore) (Lakh Sq Feet)Pantaloon 700 1200 30 74RPG 550 1700(FY-06) 7.5 130-134Shoppers 400 NA 8.5 40 StopLifestyle 230 650(FY-06) 3.2 15Westside 120 NA 3.3 21-23Ebony 85 150 2.4 14Piramyd 72 190 5 19Globus NA NA 6 15-17
Product- refers to the merchandise i.e. the range of clothes. supplementary services -include a component of fashion, life style and Ambient shopping as an addition to the core product. Today, customers buy experiences and not brands or products.
Cost plus price and Percentage method pricing: Most widely used technique to price apparels. ex:- COLOR PLUS and IN-HOUSE brands like those of SHOPPER’S STOP or WESTSIDE use this technique.
Perceived value pricing: This technique of pricing apparel is mostly followed in high value-high involvement apparels as these have to be premium priced to avoid a perception gap. ex:- Designer Wear, Bridal Wear
Apparel Retailing Business is driven by one crucial factor: Location ◦ Approachable ◦ Parking
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Every second a customer spends inside the store has to be viewed as Moment of Truth “People” is that aspect of the marketing mix which adds tangibility to the service of creating an experience
Managing Appearance of the building & Location Maintaining Temperature , Music, Lighting and Fragrance inside the store Availability of services like Prams, Wheel Chair ,Valet Parking etc Stylish Stocking of Merchandise