Retail, retail marketing, business, advertisement, education, trade, customer satisfaction, marketing research,

1. 3/26/2017
[Type the document subtitle] | Dr. Punkaj Goyal
RETAIL
MARKETING
CURRENT RETAIL SCENARIO
IN INDIA

2. The retail landscape has seen a major shift in the recent years. The
scenario in the retail store, especially in metro cities, is altogether
different as compared to ten year ago. The way consumers used to
make purchase decisions has changed dramatically: they stand in
stores, using the smart phones in their hands to compare the prices
and product reviews on various e-tailing websites and
recommendations of family and friends through social media. When
they are ready to buy, chances are that some online retailer will
deliver the same cheaply direct at their doorstep, may be the same
day. It is not only applicable to big big items but e-tailers like big
baskets, gorfers are delivering even 500 gms of potato and one kg of
onions or say 250 grams of ladyfinger to your doorstep and their
express service provide you the items even before your guests have a
cup of tea and that too on a competitive price with any REHRIWALA
(person selling on a lory or very small shop). These kinds
of unpredictable shifts have changed the viewpoint of the industry
experts and some of them predict the end of retail as we know it.
Some of them predict that retail will change more in next ten years
than it has changed in the last hundred years. Though that is not to
suggest that malls, chain stores and big name brands will not continue
in the foreseeable future but it indicates that new players will rapidly
emerge and will lead the market. The trend of weekend shopping is
also a major shift in retail industry. Shopping has become much more
than only buying and selling of goods. People visit the retail stores to
have fun (eating out, watching movies, enjoy good time with family
etc.). Today’s consumers have more choice and far more product
information than ever before which makes the job of the retailer quit
tough in keeping the consumer in his fold.