INDIAN RETAIL MANAGEMENT

Introduction
The word ‘retail’ means to sell or be sold directly to individuals. Retail is India’s largest

industry, and arguably the one with the most impact on the population. It is the country’s

largest source of employment after agriculture, has the deepest penetration to rural India, and
generates more than 10percent of India’s GDP. However, retailing in India has so far, been
mostly in the hand of small disorganized entrepreneurs. It is also India’s least
evolved industries. In fact, it is not even considered a real industry. The industry suffers from
lack of management talent, poor access to capital, un favourable regulation and denial of
access to best practices. The Indian retail industry is only now beginning to evolve in line
with the transformation that has swept other large economies. Fifty years of restricting the
consumer goods industry, a national mindset which favored denial over indulgence, and a
fractured supply chain for agricultural products have all contributed to prevent the
development of modern tenants based on scale advancements and consumer preferences.

India has some 12 million retail outlets, but many of these act merely as subsistence

providers for their owners and survive on a cost structure where labor and land is

assumed to be free and taxes nil. Compare this with the global retail industry, which is

one of the world’s largest organized employers, is at the cutting edge of technology, and

which leverages scale and scope to offer value-added services to its customers.

However, only recently has there been an awakening in this sector, with more organized

retailers starting to make an impact. The liberalization of the consumer goods industry,

initiated in the mid-80s and accelerated through the 90s has begun to impact the

structure and conduct of the retail industry. Backed by changing consumer trends and

metrics, liberalization in mindsets driven by media, new opportunities and increasing

wealth, retailing in India, presents a vast opportunity for a variety of businesses - real

estate, store design & operations, visual merchandising logistics and communications,

B2C service providers, and FMCG companies who can add to their offers by partnering
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this revolution.

The Indian retail industry is now beginning to evolve in the line with the transformation

that has swept other large economies. It witnesses tremendous growth with the

changing demographics and an improvement in the quality of life of urban people. The

growing affluence of India’s consuming class, the emergence of the new breed of

entrepreneurs and a flood of imported products in the food and grocery space, has

driven the current retail boom in the domestic market.

The concept retail which includes the shopkeeper to customer interaction, has taken

many forms and dimensions, from the traditional retail outlet and street local market

shops to upscale multi brand outlets, especially stores or departmental stores. Though

at this moment, it is still premature to say that the Indian retail market will replicate the

success stories of names such as Wal-Mart stores, Sainsbury and Tesco but at least

the winds are blowing in the direction of growth.

Retail Marketing

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Retail Marketing includes all the activities involved in selling goods or services directly

to final consumes for personal, non-business use. Any organization selling to final

consumers -- whether a manufacturer, wholesaler, or retailer – is doing retailing. It does

not matter how the goods or services are sold (by Person, Mail, Telephone, Vending

Machine, or Internet) or where they are sold (in a store, on the street, or in the

consumer’s home).

There are many approaches to understanding and defining retail marketing; most

emphasize retail marketing as the business activity of selling goods or services to the

final consumer, but what we emphasized upon is defined as follows:

“Any business that directs its marketing efforts towards satisfying the

final consumer based upon the organization of selling goods and

services as a means of distribution”

The concept assumed within this definition is quite important. The final consumer within

the distribution chain is a key concept here as retailers are at the end of the chain and

are involved in a direct interface with the consumer.

A retailer or retail store is any business enterprise, whose sales volume comes

primarily from retailing. Retail organizations exhibit great variety and new forms keep

emerging. There are store retailers, non-store retailers, and retail organizations.

Consumers today can shop for goods and services in a wide variety of stores. The best-

known type of retailer is the department store. A retailer is at the end of the distributive

channel. He provides goods and service to the ultimate consumers. This he does

through his small organization, with the help of a few personnel. In an individual retail

store there is not much scope for organization except in the sense that the shopkeeper
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has to organize and apportion his time and resources. The need for organization

becomes essential as soon as he hires people and enters into partnership or takes the

help of members of his family in running his store. A retailer deals in an assortment of

goods to cater to the needs of consumers. His objective is to make maximum profit out

of his enterprise. With that end in view he has to pursue a policy to achieve his

objective. This policy is called retailing mix. A retailing mix is the package of goods

and services that store offers to the customers for sale. It is the combination of all efforts

planned by the retailer and embodies the adjustment of the retail store to the market

environment. Retailing mix, a communication mix and a distribution mix; The

maximum satisfaction to the customers is achieved by a proper blend of all three.

The success of the retail stores, therefore, depends on customers’ reaction to the

retailing mix which influences the profits of the store, its volume of turnover, its share of

the market, its image and status and finally its survival.

There are three main phases in the life of a retailing institution. These are: -

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Ø Innovation (Entry)

Ø Trading Up

Ø Vulnerability.

In the entry stage, a new retailer enters with new price appeal, limiting product

offerings, Sparton Stores & Limited services. Its monopoly power over the others is its

price advantage, which means that it offers products at low prices so as to get a

competitive edge over its competitors.

In the trading up stage, the retailer starts expanding. It expands in terms of product

offering, better services, and improved interiors. With all these, it starts charging a bit

higher prices.

In the vulnerability stage, there is a gap in the market leaving some space for the new

players to come in. this is due to increase in the prices by the retailer.

I have already explained the three stages in life of a retail institution. Normally these

stages are there in the life of a retail institution. But all these may not be necessarily

there in every retail institution. For instance, any retail institution targeting the upper

class may start itself with a large variety & high price.

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Types OF Retail Marketing

This brings to broadly identify and categorize the types of retail marketing, which are

defined as follows:

Store Retailing

Non store Retailing

Store Retailing

Store retailing provides consumers to shop for goods and services in a wide variety of

stores and it also help the Consumers to get all the needed goods and services from

one shop only. The different types of store retailing are given below:

Specialty Stores

These stores focus on leisure tastes of different individuals. They have a narrow product

line with deep assortment such as apparel stores, sporting goods stores, furniture

stores, florists and bookstores. These stores are usually expensive and satisfy the

needs of selected consumers who have liking or preference for exclusive things.

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Departmental Store
These stores are usually built in large area and keep variety of goods under one shed. It

is usually divided into different sections like clothing, kids section, home furnishings,

electronic appliances and other household goods. In a departmental store a consumer

can buy variety of goods under one shed.

Supermarket
These stores are relatively large, low cost, low margin, high volume, self service

operations designed to serve total needs for food, laundry and household maintenance

products. Supermarkets earn an operating profit of only 1 percent on sales and

10percent on net worth.

Convenience Stores
These are relatively small stores located near residential area, open for long hours

seven days a week, and carrying a limited line of high turnover convenience products at

slightly higher prices than departmental stores. Many such stores also have added

takeout sandwiches, coffee and pastries.

Off - Price Retailer

These stores sell goods at low price with lower margins & higher volumes. These stores

sell goods with deteriorated quality. The defects are normally minor. This target at the

persons belonging to the lower income group, though some have a collection of

imported goods aimed to target the younger generation. The company owned

showroom selling the seconds products is a typical example of off - price retailer.

Discount Store

These stores sell standard merchandise at lower prices by accepting lower margins and

selling higher volumes. The use of occasional discounts or specials does not make a

discount store. A true discount store regularly sells its merchandise at lower prices,

offering mostly national brands, not inferior goods.

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In recent years, many discount retailers have “traded up”. They have improved decor,

added new lines and services, and opened suburban branches—all of which has led to

higher costs and prices and as some department stores have cut their prices to

compete with discounters.

Not only that, discount stores have moved beyond general merchandise into specialty

merchandise stores, such as discount sporting goods stores, electronics stores, and

bookstores.

Catalog Showroom
Catalog showrooms generally sell a broad selection of high-markup, fast-moving, brand-

name goods at discount prices. These include jewelry, power tools, cameras, luggage

small appliances, toys, and sporting goods. Catalog showrooms make their money by

cutting costs and margins to provide low prices that will attract a higher volume of sales.

Catalog showrooms have been struggling in recent years to hold their share of the retail

market.

Non-store Retailing
It is another type of retail marketing. Different types of non-store retailing are given

below:

Direct Selling

Direct selling which started centuries ago with itinerant peddlers has burgeoned into a

$9 billion industry, with over 600 companies selling door to door, office to office, or at

home sales parties. A variant of direct selling is called multilevel marketing, whereby

companies such as Amway recruit independent businesspeople who act as distributors

for their products, who in turn recruit and sell to sub distributors, who eventually recruit

others to sell their products, usually in customer homes.

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Direct Marketing
Direct marketing has its roots in mail-order marketing but today includes reaching

people in other ways than visiting their homes or offices, including telemarketing,

television direct response marketing, and electronic shopping.

Automatic Vending

Automatic vending has been applied to a considerable variety of merchandise, including

impulse goods with high convenience value (cigarettes, soft drinks, candy, newspaper,

hot beverages) and other products (hosiery, cosmetics, food snacks, hot soups and

food, paperbacks, record albums, film, T-shirts, insurance policies, and even fishing

worms).

RETAIL MARKETING IN INDIA

Retail marketing is the most important part of the entire logistics chain in a business

especially in consumer related products. Without proper retailing the companies can't do

their business. Retailing is the process of selling goods in small quantities to the public

and is not meant for resale. Retail is derived from the French word retailer, meaning to

cut a piece off or to break bulk.

There are various ways of making goods available to consumers like:

· Company to distributor to wholesaler to retailer to consumer

· Company to salesperson to consumer

· Company to consumers (online/ phone/ catalog ordering)

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These three are among the most common ways of making the goods available to

consumers. But in India the three layered system of distributor, wholesaler and retailer,

forms the backbone of the front-end logistics of most of the consumer-good companies.

In this system the company operating on all India basis appoints hundreds of

distributors across the country that supplies to various retailers and wholesalers.

Wholesalers in turn can either directly sell in the market or can supply to retailers. The

current retailing system prevalent across the country is highly fragmented and

unorganized. Anyone with some money and some real estate can open a small shop

and become a retailer catering to the locality in which he opens the shop.

PROBLEMS FACED IN INDIA :

There are a number of reasons behind this fragmented retail market. Some of the major

reasons being:

Ø Poverty and lower literacy levels.

Ø Low per capita income.

Ø Savings focused and less indulgence mindset.

Ø Restrictions on intra-state good movement.

Ø High taxes.

Ø No exposure to media.

Ø High import duties on imported goods.

Ø FDI in retailing is not allowed.

Ø Retailing is not considered as a business or industry by the government.

Ø Hitherto none of the business schools in India were offering specialized

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courses on retailing.
Ø Expensive supply chain.

Besides this there is other reasons too, which led to stifling of growth of organized

segment of retailing sector and which instead led to highly fragmented market.

Today in India we have more than 12 million retail outlets and most of then are family

run and locally owned. There are very few nationally present retail stores. In India the

process of buying and selling at these unorganized retail outlets, is highly characterized

by bargaining and negotiations. But slowly with increasing influence of media and

urbanization the market is shifting towards organized segment. Seeing the huge market

size of retail business in the country and the current level of organized segment, many

players have jumped into the fray and many are waiting for the right opportunity to enter

it.

Present Retail Scenario In India :

 Retail experts find Indian industry promising

 Mall Mania: The developing mall culture in India

 Emergence of region-specific formats

 Emergence of discount formats

 Entry of international players

 Retail experts find Indian industry promising

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The retail movement in India has acquired the critical mass that is required for rapid

acceleration in terms of industry growth as well as geographical spread. The Indian

retail industry can no longer be called nascent.

The spread of super stores to the northern cities such as Delhi, Chandigarh, Jaipur and

Kolkata is evidence of the fact that organized retailing in India has emerged from its

southern bastion.

The retailing boom is being driven by increased expectations as well as changing

shopping behavior of the urban Indian consumer. With the increasing number of nuclear

families, working women, greater work pressure and increased commuting time,

consumers are looking for convenience. And, convenience is defined as having

everything under one roof, longer hours and multiplicity of choice.

On the supply side, the current inefficient supply chain in India, particularly for food

items has led a few players to consolidate their operations to take advantage of

economies of scale and match consumer expectations in terms of delivery as well as

space. So, we have a situation where both demand and supply side dynamics are

fuelling the growth of organized retailing in India, although improvements in the supply

chain are yet to fully match with consumer expectations.

The future growth need not necessarily come only from the big metros, where there

already exists a good retail network. The fact that big Indian retail chains are moving

into places like Indore or Chandigarh is an important indicator of future growth. For the

Rs. 5000-crore organized retail industry it is, perhaps, time to tap the relatively smaller

cities

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 Mall Mania: The Developing Mall Culture in India

Modern malls made their entry into India in the late 1990s, with the establishment of

Crossroads in Mumbai and Ansals Plaza in Delhi. By early 2001, several mall projects

were announced. According to market estimates, close to 12 million sq. ft. of mall space

is being developed across several cities in the country, of which 10 million sq. ft. is

expected to be operational by end of 2003 (see Table below). With this, rentals for retail

properties have shown a marked decline, which has brought down the break-even

levels of the retail projects. Moreover, retailers would now have access to retail-specific

properties, which will increase their efficiencies.

Emergence of Region-Specific Formats

For the first time in 10 years, the industry is witnessing the development of region-

specific formats. With organized retail penetrating into B class towns, retailers have

started differentiating in the sizes and formats of stores. For example, in departmental

store format, while most A class cities and metros have larger stores of 50,000 plus sq.

ft. sizes, stores in B class towns have stabilized in the 25,000-35,000 sq. ft. range. Most

players have started operating these two formats across various cities, which has

helped them to standardize the merchandise offering across the chain.

Emergence of Discount Formats

Larger discount formats, popularly known as hypermarkets, are now emerging as major

competitors to both unorganized and organized retailers. Penetration of organized retail

into the lower strata of income groups and consumer demand for increased value-for-

money has improved the prospects of these formats. These formats span across the

entire range of merchandise categories. Big Bazaar, promoted by Pantaloon and Giant,

promoted by the RPG Group, are examples of this format.

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Entry of International Players

A large number of international retailers have evinced interest in India, despite the

absence of favorable government policy for foreign players (see Table below). A

number of the major brands have entered the country through licensing agreements

with Indian players to capitalize on the opportunities available in the sector.

Organized Retail Formats in India

Each of the retail stars has identified and settled into a feasible and sustainable

business model of its own.

 Shoppers' Stop - Department store format

 Westside - Emulated the Marks & Spencer model of 100 per cent private label,

very good value for money merchandise for the entire family

 Giant and Big Bazaar - Hypermarket/cash & carry store

 Food World and Nilgiris – Supermarket format

 Pantaloons and The Home Store - Specialty retailing

 Tanishq has very successfully pioneered a very high quality organized retail

business in fine jewellery.

Structure of the retailing industry according to ownership patterns:

 An unaffiliated or independent retailer

 A chain retailer or corporate retail chain

 A franchise system

 A Leased Department (LD)

 Vertical Marketing System (VMS)

 Consumer Co-operatives

A new entrant in the retail environment is the 'discounter' format. It is also is known as

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cash and-carry or hypermarket. These formats usually work on bulk buying and bulk

selling. Shopping experience in terms of ambience or the service is not the mainstay

here. RPG group has set up the first 'discounter' in Hyderabad called the Giant. Now

Pantaloon is following suit.

Two categories of customers visit these retail outlets.

1. The small retailer. For example, a customer of Giant could be a dhabawala who

needs to buy edible oil in bulk.

2. The regular consumer who spends on big volumes (large pack sizes) because of a

price advantage per unit.

Retailing in India is still evolving and the sector is witnessing a series of experiments

across the country with new formats being tested out; the old ones tweaked around or

just discarded. Some of these are listed in Table below.

Retailer Current Format New Formats

Shoppers' Stop Department Store Quasi-mall

Crossword Large bookstore Corner shops

Pyramid Department Store Quasi-mall, food retail

Pantaloon Own brand store Hypermarket

Vitan Supermarket Suburban discount store

Foodworld Food supermarket Hypermarket, Foodworld express

Glob us Department Store Small fashion stores

Efoodmart Food super market Aggregation of Kiranas

Metro Departmental store Cash and carry

S Kumar's Departmental store Discount store

( Source: India info line)

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RETAIL STORE OPERATIONS

The retail store is the place where customers take a decision on the purchase of the products
offered by the retailer. The store is also influences the perceptions that customers form in
their minds about the store, the products, services and staff. From the management's point of
view, operations of the store are a major element of the cost. As a consequence, the store
itself becomes a critical asset of the retail business and it is imperative that the operations are
managed well to achieve and sustain customer satisfaction and be cost effective. Managing
store operations for a retail business of any size or complexity, from the neighborhood grocer
to the national retail chain, is a challenging task. It requires integration among various
functions within the store. When all functions are performed in an integrated manner, the
store operations run smooth .

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ELEMENTS/ COMPONANTS OF RETAIL OPERATIONS

In order to ensure a smooth flow of operations at the store level, it is necessary that the
management defines processes and has the people and the resources to important them. The
tasks to be performed and the processes are usually defined in a Store Operations Manual.
This document lists the tasks which needs to be carried out at the store level; it states the
responsibility and the time period in which these tasks need to be performed. A well-prepared
operations manual or blue print is the starting point of efficient store operations. Typically in
a retail store, the following tasks need to be performed:

1. Store Administration and Management of the premises:

2. Managing inventory and display:

3. Managing Receipts:

4. Customer service: and

5. Managing Promotions, Events, Alliances and Partnership

CASHIERING PROCESS IN RETAILING:

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Individual accounting includes the concept that transaction amounts processed by each
individual, including each check handling and depositing processes. Therefore, if the stamp
that is used to restrictively endorse the back of a check is not unique to the cashier, for
example, when a cashier either shares an endorsement stamp with other or uses a generic
endorsement stamp, it is preferable that the cashier initial the back of the check. Several
campus units have two people who share cashiering duties and use the same cash drawer. In
this situation, individual accountability does not exit Therefore, the unit manager needs to
track the daily deposit reconciliation so if shortages occur frequently, additional controls are
put in place. When cash, checks and other negotiable instruments are transferred from one
person to another, there should always be a document signed by both individuals that
identifies each amount transferred by category, i.e. currency, coin check or any other
negotiable instrument. The two signatures on the transfer form indicate that each person has
counted and totaled the amounts and both parties agree that the amount listed on the form is
the amount actually transferred at every step in the process.

TYPES OF RETAIL STORES SPECIALITY STORES:

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Specialty stores, as the name implies, are ones that carry a narrow product line with a deep
assortment within that line. Typical examples are jewellery stores like Ranka Jewelers, P. N.
Gadgil, watch stores like Titan, sporting goods stores like Shakti Sports, Book stores like
Crossword, and so on. These stores can be further sub-classified on the basis of the degree of
narrowness in their product lines. Consider the example of garments. A Shopper’s Stop that
retails readymade garments for the family is called single line stores. A Raymonds showroom
that retail only men’s clothing and accessories is known as a limited line store, and stores that
retail designers clothes for men like Chirag Din, Louis Phillipe, and Van Huesen are known
as Super Speciality Stores.

DEPARTMENT STORES: A department store carries several product lines, invariably all
that is required by a typical household. These lines include food, clothing, appliances and
other household goods, home furnishings, and gifts and curios. In a typical department store
each product line is managed independently by specialist buyers or merchandisers. In India,
these stores are still at the introduction phase and they are mainly located in metros like
Mumbai, Delhi, and Chennai and other cities like Bangalore and Hyderabad.

SUPERMARKET: This is a large, low cost, low margin, high volume, self service operation
designed to serve the customer’s needs for food, laundry, and household maintenance
products. Once again, one doesn’t see these supermarkets in the true sense of the term in
India. However, we believe that much of the future development is likely to take place in this
type of retail outlet. This is largely because customers will have very little time to shop
around. With more women being employed, shopping around or even just buying from corner
shop is going to reduce. Another reason is that the customer is more aroused of product
quality and freshness when he or she buys his or her requirements from a store like Food
land. Moreover, the wide range of product mix carried by these stores makes them a
favorite’s retail outlet.

CONVENIENCE STORES: These are generally food stores that are much smaller in size
than supermarkets. They are conveniently located near residential areas and have long hours

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of operations, seven days a week, and carry a limited line of high turnover convenience
products. In the Indian context, the old and faithful street corner grocery store or cold storage
or food store are the ones that can be called convenience stores. These stores serve a very
useful purpose. Due to a high degree of personalized service and home delivery by store
clerks, these store fill in a very important need of a housewife —that of not having to carry
her purchases back home and also of not having to wait at the store. Typically, she hands
over her weekly or monthly requirements list to the owner, who then organizes the delivery.
Since these stores are open long hours—around 10 to 12 hours—everyday of the week and
are used mainly for “fill in” purchases, they occupy a niche position in retail marketing. In
India, convenience stores have been in existence for the longest time.

DISCOUNT STORES: As the name implies, discount stores are the ones that sell standard
merchandise at lower prices than conventional merchants or stores by accepting lower
margins but pushing for higher sales volume. A true discount store has four characteristics: 1.
It regularly sells its goods at a discounted price 2. It carries national or reputed brands to
enhance its image 3. It keeps its operational costs to the minimum by emphasizing on self-
service and “no frills” interiors 4. Its location tends to be in low rent areas, and it draws
customers from even distant locations. Today, Big Bazaar and several other hypermarkets are
delivering merchandise to consumers at low prices. In fact, Big Bazaar’s strategy is to deliver
best-value at the lowest price in the region in which its store is located. Again, we see the
growth of these stores in India because more and more customers are going to be price
conscious and look for discount sales. As a matter of fact, these stores serve the middle class
and lower middle class consumers’ need to buy national brands, but at a lower brands. Hence,
the future in the Indian market belongs to the discount stores.

CONCLUSION

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At this point, I can summarize the main development retailers and manufacturers need to take

into account as they plan their competitive strategies.

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