Sunday, March 13, 2011
India 2020:- It's Retail Retail Everywhere
The first time, when the father if Indian Retail, Mr. Kishor Biyani comes with his idea of Indian retailing, it was a huge landmark in Indian market. Biyani's Big Bazaar becomes a brand name in small cities as well as metros. At very beginning, the people treated it for their entertainment purpose. sometimes a huge variety of peoples came for just time pass. But time per time, the prospect ratio increased and now it is a need for the people of all cities. If in any city, Big bazaar's store is available, then customers first choice will be that. the easy availability of all articles at a place, quality of products, lack of time with people, make them addicted to these stores.
Now a days, the people of rural areas are also looking for such kind of retail stores. There are also some companies which are focusing on rural areas and quite successful. Hariyali Kisaan Bazaar, Vishal Mega Mart are among those companies which are best sellers in rural areas. The attractive outlets, modern technology and cheeper prices of these stores attracts rural customers much more. This shows the future of retail in vast rural market of India where 70% of the population resides in rural areas.
The Indian Retail industry is not only depend on our domestic companies, but the MNCs are also entering or ready to enter in Indian market. In the year 2008, world's top company Walmart entered in Indian market with collaboration with Bharti. The biggest retail gaint of Europe, "Carrefour" also set up it's first outlet in India. Apart from these, there are also a plenty of companies are planning to entered in Indian market. This shows the future of Indian retail.
So, what will happen after 2020, Will retail retail everywhere. It will be quite good for customers but at the same time, it will directly hit wholesale market as well as major manufacturing giants. Because, day per day, the counter-fights between the branded products and the own products of these stores increasing.
The Overview of Indian Retail Market:-
Total Market size :- US$ 392.63 billion in 2011
Expected Size :- US$ 674.37 billion by 2014
Driven by the growth of organised retail coupled with changing consumer habits, food retail sector in India is set to be more than double to US$ 150 billion by 2025, according to a report by KPMG.
ndia has been ranked as the third most attractive nation for retail investment among 30 emerging markets by the US-based global management consulting firm, A T Kearney in its 9th annual Global Retail Development Index (GRDI) 2010.
Foreign direct investment (FDI) inflows between April 2000 and October 2010, in single-brand retail trading, stood at US$ 197.04 million, according to the Department of Industrial Policy and Promotion (DIPP).
Carrefour, the world’s second-largest retailer, has opened its first cash-and-carry store in India in New Delhi. Germany-based wholesale company Metro Cash & Carry (MCC) opened its second wholesale centre at Uppal in Hyderabad, taking to its number to six in the country.
Electronic retail chain major, Next Retail India, plans to open 400 showrooms across the country during January-March 2011 increasing the total number of retail stores to 1,000 by the end of the fiscal year 2010-11.
Jewellery retail store chain Tanishq plans to open 15 new retail stores in various parts of the country in the 2011-12 fiscal.
V Mart Retail Ltd, a medium-sized hypermarket format retail chain, is set to open 40 outlets over the next three years, starting with 13 stores in 2011, in Tier-II and Tier-III cities.
Reliance Retail, the wholly owned subsidiary of Mukesh Ambani's Reliance Industries, is set to open 150 stores by the end of March 2011 and double the number of stores across the country in all formats within five years.
Future Value Retail, a Future Group venture, will take its hypermarket chain Big Bazaar to smaller cities of Andhra Pradesh, with an investment of around US$ 1.54 million to US$ 4.41 million depending on the size and format.
RPG-owned Spencer's Retail plans to set up 15-20 new stores in the country in 2011-12.
Spar Hypermarkets, the global food retailing chain of the Dubai-based Landmark Group, expects to start funding its India expansion beyond 2013 out of its local cash flow in the country. So far, the Landmark Group has invested US$ 51.31 million in setting up five hypermarkets and plans to pump in another US$ 51.31 million into the next phase of expansion.
Leading watchmaker Titan Industries Limited plans to invest about US$ 21.83 million for opening 50 premium watch outlets Helios in next five years to attain a sales target of US$ 87.31 million.
British high street retailer, Marks and Spencer (M&S) plans to significantly increase its retail presence in India, targetting 50 stores in the next three years.
Spain's Inditex, Europe's largest clothing retailer opened the first store of its flagship Zara brand in India in June 2010. It further plans to open a total of five Zara outlets in India.
Bharti Retail, owner of Easy Day store—supermarkets and hypermarts—plans to invest about US$ 2.5 billion over the next five years to add about 10 million sq ft of retail space in the country by then.
So, Now we can say that "IT'S RETAIL RETAIL EVERYWHERE" in India till 2020.