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TheResearchoftheGrowthofNewRetailFormats

作者：

PiyushKumarSinha,SanjayKumarKa

期刊：

ResearchandPublications

年份：

2017

原文

Abstract



TheResearchoftheGrowthofNewRetailFormatsPiyushKumarSinha,SanjayKumarKar

TheIndianretailsectorisgoingthroughatransformationandthisemergingmarketiswitnessingasignificantchangeinitsgrowthandinvestmentpattern.Bothexistingandnewplayersareexperimentingwithnewretailformats.Currentlytwopopularformats-hypermarketsandsupermarketsaregrowingveryfast.Apartfromthebrick-mortarformats,brick-clickandclick-clickformatsarealsoincreasinglyvisibleontheIndianretaillandscape.ConsumerdynamicsinIndiaischangingandtheretailersneedtotakenoteofthisandformulatetheirstrategiesandtacticstodelivervaluetotheconsumer.Thispaperinvestigatesmodernretaildevelopmentsandgrowthofmodernformatsinthiscountry.Wealsodiscussthechallengesandopportunitiesavailabletotheretailerstosucceedinthiscountry.

Keywords:

NewRetail,Formats,DevelopmentStrategyIntroduction

RetailinginIndiaisreceivingglobalrecognitionandattentionandthisemergingmarketiswitnessingasignificantchangeinitsgrowthandinvestmentpattern.Itisnotjusttheglobalplayerslike

Wal-Mart,TescoandMetrogroupareeyingtocaptureapieofthismarketbutalsothedomesticcorporatebehemothslikeReliance,KKModi,AdityaBirlagroup,andBhartigrouptooareatsomestageofretaildevelopment.Reliance,announcedthatitwillinvest$3.4billiontobecomethecountry'

slargestmodernretailerbyestablishingachainof1,575storesbyMarch2007.Thelastcoupleofyearshavebeenrosyforrealestatedevelopersandtheretailersarefindingsuitableretailspaceinprominentlocations.Theindustryisbuoyantaboutgrowthandtheearlystartersareinexpansionmood.Thereisincreasedsophisticationintheshoppingpatternofconsumers,whichhasresultedinbigretailchainscomingupinmostmetros;

minimetrosandtownsbeingthenexttarget.Consumertasteandpreferencesarechangingleadingtoradicalalterationinlifestylesandspendingpatternswhichinturnisgivingrisetonewbusinessopportunities.Companiesneedtobedynamicandproactivewhilerespondingtotheever-changingtrendsinconsumerlifestyleandbehavior.

RetailinginIndiaiscurrentlyestimatedtobeaUSD200billionindustry,ofwhichorganisedretailingmakesup3percentorUSD

6.4billion.By2010,organisedretailisprojectedtoreachUSD23billion1andintermsofmarketshareitisexpectedtoriseby20to

25percent2.Thereportalsopredictsastrongerretailergrowththan

thatofGDPinthecomingfive years.

Thegenericgrowthislikelytobedrivenbychanginglifestylesandbystrongsurgeinincome,whichinturnwillbesupportedbyfavorabledemographicpatterns.Rapidgrowthininternationalqualityretailspacebringsjoytoshoppersandshoppingmallsarebecomingincreasinglycommoninlargecities,andannounceddevelopmentplansprojectatleast150newshoppingmallsby2008.Thenumberofdepartmentstoresisgrowingatamuchfasterpacethanoverallretail,at24percentannually.Supermarketshavebeentakinganincreasingshareofgeneralfoodandgrocerytradeoverthelasttwodecades.

DevelopmentofmegamallsinIndiaisaddingnewdimensionstotheboomingretailsector.Shoppingexperienceinthenationofshopkeepersischangingandchangingveryfast.Thereissignificantdevelopmentinretaillandscapenotonlyinthemetrosbutalsointhesmallercities.EvenITCwentonestepaheadtorevolutionizeruralretailbydeveloping‘ChoupalSagar’aruralmall.Ononehandtherearegroupsofvisionarycorporateworkingconstantlytoimproveuponurbanshoppingexperienceandontheotherhandsomecompaniesaretryingtoinfuseinnovativeretailexperienceintotheruralsetup.

TheLargerPicture

Indianeconomyhasshownanimpressivegrowthofover6percentforlastfiveyearsandcontinuestosurgeahead.GDPgrowthratein2003-04recordedafifteenyearhighof8.5%andsubsequentlymaintainedasteadygrowthforthenexttwoyears.RealGDPgrowthacceleratedfrom7.5percentduring2004-05to

8.4percentduring2005-06onthebackofbuoyantmanufacturingandservicesactivitysupportedbyarecoveryintheagriculturalsector.3Thecentralbankforecastssimilargrowthof7.5-8percentduring2006-07.WithstrongeconomicgrowthconsumerismisincreasinginthecountryandIndiaisthefourthlargesteconomyasfaraspurchasingpowerparityisconcerned,justbehindUSA,JapanandChina.

ConsumerTrend

Indiaiscurrentlyhavingthela