the retail evolution
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Retail Industry : Overview
RetailingWorlds largest private industry
US$ 6.6 trillion sales annually
Indian retailingLargest employer after agriculture - 8% ofpopulationHighest outlet density in world
Around 12 mn outletsStill evolving as an industry
Long way to go
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Weekly MarketsVillage FairsMelas
Convenience StoresMom andPop/Kiranas
PDS OutletsKhadi StoresCooperatives
Exclusive BrandOutletsHyper/Super MarketsDepartment StoresShopping Malls
Traditional/Pervasive Reach
GovernmentSupported
Historic/RuralReach
Modern Formats/International
Evolution of Indian retail
Source ofEntertainment
NeighborhoodStores/Convenience
Availability/ LowCosts /
Distribution
ShoppingExperience/Efficiency
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Informal retailing SectorTypically small retailers.Evasion of taxes
Difficulty in enforcing tax collection mechanismsNo monitoring of labor laws
Formal Retailing SectorTypically large retailers
Greater enforcement of taxation mechanismsHigh level of labor usage monitoring
Evolution of Indian retail
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Corporate Houses Tatas: Tata Trent RPG group: Food World, Health and Glow, etc ITC: Wills Life Style
Rahejas(ShoppersStop), Hiranandani(Haiko), DLF(DTcinemas) etc.Dedicated brand outlets
Nike, Reebok, Zodiac etcMulti-brand outlets
Vijay Sales, Viveks etcManufacturers/ Exporters Pantaloons, Bata, Weekender
Categories of Indian retail
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HypermarketBig BazaarVishal Mega MartGiantsShopriteStar
Department storeLifestylePantaloonsPiramydsShoppers StopTrent
EntertainmentFame AdlabsFun RepublicInoxPVR
Large Indian retailers
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A successful retail store is nothing morethan a series of well connected andthought out plans, ideas and processes.
The retail marketplace has fast becomethe domain of those who know how to usecore strengths to dominate. Successfulretail strategies are based on four primaryareas:
- Product Selection- Convenience- Shopping Experience- Price
The Retail Store
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Retailing Strategy
In setting goals for your retail business, youshould consider the following:
- The Owner's Personal Quality of Life- Sales- Profits- Customer Satisfaction
- Suppliers- Employees- Image and Positioning
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Keeping Check on the Trends
Watch for key trends that involve thefollowing groups or topics:
ConsumersCompetitionEconomyGovernment PolicyTechnologyIndustry
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Marketing Facets
From the list of objectives below, identify thosethat are applicable to your store:
Build short-term sales.Develop or reinforce your image and store concept.Provide information about your services or products.Increase customer traffic.
Create interest and demand for unique/private labelbrands.
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Visual MerchandisingVisual Merchandising is first and foremost a strategicactivity that requires planning and analysis.Put your best-selling merchandise in your best-sellingspace.
If you only do one thing with your store, make itprofessional.Your storefront, including your windows, must tell theright story about who you are as a retailer.Invest in proper signage to take your store to the nextlevel.
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Customer SatisfactionBe confident that placing the customer ahead ofprofits will result in greater profitability.Customer service starts at the top of everyorganization with management's commitment to
providing total customer satisfaction.The right staff, with the right skills and the rightsupport, are needed to provide excellent front lineservice.Learn to listen to your customers to understandwhat they want, don't want and, most importantly,what they think of your store.Continually measure your service results.
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Consumer Perspective
Survey done of 300 people.The data gathered through primaryQuestionnaire survey.Responses were surprising.Lets see what people say
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Frequency to Visit the Super
Marketsf ortnightonce a month
rarelyweekly
t ime
32.14%
46.43%
3.57%17.86%
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Superiority of Giants
agreedisagreeneither agree nordisagree
strongly agreestrongly disagree
superior
32.14%
14.29%25.00%
21.43%
7.14%
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Sales Promotions
discount off ersdraw sy stemf ree gif ts
f ree home deliv eryothersprice packs
sp
35.71%
7.14%
28.57%
10.71%
3.57%14.29%
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Media Influence
circularshoardingslocal TV
newspapersothers
word of mouth
med ia
25.00%
14.29%
7.14%
10.71%
7.14%
35.71%
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Shocking But TrueDo you END UP BUYING WHAT YOU EXACTLY INTEND TO?
noy es
intend
57.14%
42.86%
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Refreshments After Shopping?
noy es
refresh
28.57%
71.43%
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Gender Influence
f emalemale
gender
57.14%
42.86%
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What works the most?
0%20%40%60%80%
100%
U
n i m p o r t a n t
N e u t r a l
M o s t
I m p o r t a n t
Layout
Ease of FindingitemsSpaciousShopping
UnlimitedSelectionGood Display
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Recommendations
By providing a logical layout.Ensuring point of purchase.Providing good customer service.Ensuring good stock availability.Location (Primarily)
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Thank You