The Largest Private Industry Of India And Second Largest Employer After Agriculture

Threat of new entrants: Retail industry has a higher barrier to entry. First, it is difficult to work out a good value chain as it involves a complex process. Second, it is difficult for new entrants to gain competitive advantage and earn above-average returns in such a highly competitive market. Besides,

The retail sectors are specializing in the selling of products that the consumers need in specific times and places. However, it is hardly the retailer's responsibility to produce the goods. The retailers just act agents, as they get the products to the consumers. Industrial retailing will focus more on the sale of small quantities of the products to the buyers. Transformational processes are not integrated in the retailing processes, as the retailers neither produce nor manufacture any goods. Initially, retailing was just transacted in stores and shop. Presently, technological upgrades and developments have affected the retailing process positively, leading to the use of electronics to do transactions. In most cases, the retailers will transact with cash specifically during payment of the products (Retail Council of Canada, 2009).

As we all know, the retail industry is very crucial and is highly competitive. As this company

•  India's $250 billion retail business is the eighth largest in the world and has the potential to grow 7 per cent by 2011. [McKinsey Report] For a company already dominating the world markets, this is an un-passable opportunity.

The retail sector is one of the most emerging markets that is constantly changing how it operates. New issues and innovations regarding retail are constantly rising and changing the way consumers behave. Based on the experiences in RMG 100, this report will analyze the aspects of varied retail formats and their significance, the factors that contribute to current and emerging retail innovations and issues, and the implications of these innovations and issues for retail managers.

As 70% of employment is coming from the agriculture sector, hence this form of retailing is mostly seen in those areas and of course to some part of urban India there is a lot of ups and downs for opening of sector for direct investment from the foreign players but government cannot neglect the interest of small players. One of main reason for not opening this sector to FDI is it may decrease the employment in the Unorganized sector and increase the

The vast and diverse nature of the Indian consumer provides ample variety of needs for retail stores to address. Mom & pop stores, departmental stores, e-commerce platforms, all target different needs of a variety of customers. With consumers becoming more and more comfortable with

Indian Retail industry is going through a favourable era, offering the opportunity to grow faster, expand business and strengthen the competition. In the field of retailing, organized sector is growing and unorganized is competing with which is traditionally followed. Indian retail industry is growing in a good momentum. Increasing competition makes it difficult for any company to gain competitive advantage over the competitors. Retailing is a low margin, high volume, commodity business where profitability gets strained as competition intensifies A broad consumer base and an ever increasing population have given the necessary push to the Indian retail industry to grow prodigiously. The changing lifestyle and rising disposable incomes are

An interdisciplinary research agenda has arisen in the past two decades to study the significance of emerging retail MNCs as part of the process of globalization. The internationalization of retailing has been a central topic in the business literature particularly in retail management (Alexander 1997; Alexander and Quinn, 2002; Bianchi and Arnold, 2004; Goldman, 2001; Tseng and Foster, 2006; Palmer 2005; Cao and Dupuis, 2009). The issues studied in that literature include motives for internationalization, modes of market-entry, retail format transferability, organizational learning and strategic failure and divestment. Scholars in economic geography have also contributed to this literature stream (Aoyama, 2007; Christopherson, 2007; Wrigley et al., 2005; Reardon et al., 2007). Topics include the impact of the host economy on market entry, the role of the institutional environment of the home market and the host market entered and divestment. Researchers in agricultural and developmental economics have studied the supermarket revolution in developing countries (Reardon and Hopkins 2006; Hu et al., 2004; and Humphrey, 2007). Researchers across the board have argued that the simultaneous process of internationalization and concentration of retail MNCs is leading to global oligopoly. According to

Retail is the selling of services or goods to consumers to gain a profit. The retail industry is one of the most important and profitable industries in the world economy today. Total annual U.S. retail sales have increased an average of 4.5% between 1993 and 2015, according to the U.S. Census Bureau. The simple idea of creating retail shops, discount stores, and super shops has altered the world of shoppers and consumers worldwide. An estimated two-thirds of the U.S. gross domestic product (GDP) comes from retail consumption (2015 US Retail Industry Overview - Info, Facts, Research, Data, Trivia," 2015).The retail industry is generally divided into several types of retail stores such as, department stores, supermarkets, convenience stores, online stores and malls.

Retail industry is an important economic sector, which plays a significant role in expanding domestic demand, promoting employment, stimulating economic growth and increasing overall social welfare. With the progress of the industry, competitions among

While it is not modeled on any one foreign retailer, the ‘basic construct’ is taken from the experience of a number of successfully managed retail companies. It has leveraged expertise for a critical component like technology from all over the world, going as far as hiring expatriates from Littlewoods and using state-of-the-art ERP models. Shoppers’ Stop went a step further by even integrating its financial system with the ERP model. Expertise was imported wherever it felt that expertise available in-house was inadequate. But the store felt there was one acute problem. A shortage of the most important resource of them all was trained humans . Since Indian business institutes did not have professional courses in retail management, people were hired from different walks of life and the training programme was internalized. By 1994, the senior executives at Shoppers’ Stop were taking lectures at management institutes in Mumbai. The Narsee Monjee Institute of Management Studies (NMIMS) even restructured its course to include retail management as a subject. Getting the company access to the latest global retail trends and exchange of information with business greats was an exclusive membership to the Intercontinental Group of Department Stores (IGDS). It allows membership by invitation to one company from a country and Shoppers’ Stop rubs shoulders with 29 of the hottest names in retailing – Selfridges from the UK, C.K. Tang from Singapore, Lamcy Plaza from Dubai and the

Indian market is one of the largest market with high purchasing power. Lot s of work to be done in the field of logistics & supply chain management. It is not possible for Indian government alone to developed world class infrastructure and other allied facilities because of huge investment requirement . FDI in India has in a lot of ways enabled India to achieve a certain degree of financial stability, growth and development. In order to create new & more jobs , FDI is the success mantra now. FDI no doubt is creating innovation in retail sector but simultaneously it may pull down the local and domestic retailers of India which is surely a concern to worry about for Indian government. It reduces the gap between farm prices

ITC happens to be one of India’s top-level private sector companies, with a diversified occurrence in Fast Moving Consumer Goods (FMCG), Hotel industry, Paper-board 's & Specialty Papers, Packaging, and Agricultural-Business & Information Technology. Among other things, ITC is a superb market leader in its customary businesses of hotels, paper-board 's, packaging, agricultural-exports and tobacco/cigarettes, it has the means to quickly acquire market shares, as well as , in its growing businesses of packaged foods & collective confectionery, branded apparel or clothing, Individual care and stationery ITC. Since they have finished a centry of existence, their abiding commitment to embrace sustainability have in fact made the “futureready” company they 're today as they affect life’s each and every day.

Foreign direct investment was neglected in the developmental process of Indian economy before 1991.the 1991 industrial policy has paved out a way for the foreign player, India is a democratic polity and is a country with the political stability and a growing pool of consumers and educated manpower which is a favorable aspect for FDI in India.