MODERN RETAIL V/S KIRANAS : WHO WILL LOSE THE BATTLE FOR CUSTOMER BASE?
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MODERN RETAIL V/S KIRANAS : WHO WILL LOSE THE BATTLE FOR CUSTOMER BASE? by NIKHIL SHARMA, SWATI SINGH and NIMISHA SOMANI students of BIMTECH, Greater Noida
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MODERN RETAIL V/S KIRANAS : WHO WILL LOSE THE BATTLE FOR CUSTOMER BASE?
- 1. MODERN RETAIL V/S KIRANAS : WHO WILL LOSE THE BATTLE FOR CUSTOMER BASE? NIKHIL SHARMA - 17RM931 SWATI SINGH - 17RM959 NIMISHA SOMANI - 18RM932 BIMTECH, Plot Number 5, Knowledge Park 2, NCR, Greater Noida, Uttar Pradesh 201306, India
- 2. “Small retailers will continue to remain. In fact, the international experience shows that even in advanced countries where there are large scale department stores operating, the "mom and pop" stores have not disappeared. They continue to exist” C. Rangarajan (Ex-Governor of RBI)
- 3. ❖ India’s modern retail would double in size by the end of 2019 compared to 2016. ❖ Unorganized retail in India will have a market size of approximately 90% i.e. approx. 1073.33 US$ billion https://www.ibef.org/industry/retail-india.aspx
- 5. 40% 34% 26% Dilemma Un-Organised Organised 37% 16% 21% 26% Daily Grocery Local Kirana Hypermarket Convenience Super market 10% 20% 30% 40% Visits Daily Monthly Weekly Fornightly Source : Indian Council for Research in International Economic Relations (ICRIER), Vol. 2, No. 3, July 2016
- 6. TRADITIONAL1 2 SENIOR CITIZEN3 HOME BUDDIES4 VARIETY SEEKING 1 Y & Z GENERATION 2 GO AND GRAB 3 SCAVENGERS 4 CONVINIENCE MODERNRETAIL KIRANASTORE Source: https://www.emeraldinsight.com/doi/full/10.1108/09590551111104486
- 7. ➢To study and understand the strategies adopted by modern retail and kirana stores to retain their customer base. ➢ To understand the impact of modern retail over kirana stores and vice versa. ➢ Which beliefs affect the retail format choice behavior for consumers.
- 8. 11.03% 27.78% 14.44% 16.35% 16.05% 14% Modern Retail Location Variety Service Promotion Loyalty Technology 33.30% 11.70% 15.70% 10.90% 20.40% 8.00% Kirana Stores Location Variety Service Promotion Loyalty Technology 17.70% 22.20% 15% 17.10% 12% 16% Customer Location Variety Service Promotion Loyalty Technology
- 9. Initiatives Various startups have started to upgrade local Kiranas stores by installing latest features Collaborations Combination of modern retailing and Kiranas Matter of service and technology that will be going to shape the fortune of retail in India. New Generation Y & Z generation is inclined towards modern retail due to the more Tech Savvy nature Technology