NEW ERA IN RETAIL-THE ROAD & CHALLENGES AHEAD Dr. Piyush prakash(Reader: D.A.V. College Kanpur) and Sandhya Dubey (Research Scholar) ABSTRACT: In India, the most of the retail sector is unorganized. In India, the retail business contributes around 11 percent of GDP. Of this, the organized retail sector accounts only for about 3 percent share, and the remaining share is contributed by the unorganized sector. The main challenge facing the organized sector is the competition from unorganized sector. Unorganized retailing has been there in India for centuries, theses are named as mom-pop stores. The main advantage in unorganized retailing is consumer familiarity that runs from generation to generation. It is a low cost structure; they are mostly operated by owners, has very low real estate and labor costs and has low taxes to pay. In organized retailing will grow faster than unorganized sector and the growth speed will be responsible for its high market share, which is expected to be $ 17 billion by 2010-11. Retailing will show good prospects in cities like Mumbai, Delhi, Chennai, kolkata, Bangalore and Kanpur. After Dubai, Singapore and Hong Kong, In India Delhi will be ...
Emerging Trends in Retail Marketing strategy Retail Marketing The essence of retail marketing is developing merchandise and services that satisfy specific needs of customers, and supplying them at prices that will yield profits. Thereby the concept is a philosophy, not a system of retailing or retail structure. In today’s CRM landscape the old analogy comparing the rifle and shotgun approaches to message and / or offer delivery is perhaps more appropriate than ever, as more retail organizations struggle to achieve one-to-one marketing-communications with customers and prospects. Targeting allows a retail enterprise to channel its marketing budget4ere there is the greatest (and fastest) possibility of Return On Investment (ROI) Retail Marketing mix Retail Marketing mix is the term used to describe the various elements and methods required to formulate and execute retail marketing strategy. The mix may vary greatly according to the type of market the retailer is in, and the type of products / services. Marketing strategy A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage’. A marketing strategy should be centred ...
Summary In recent years, target areas of FDI have become more varied. FDI flows increased from infrastructure, natural resources and export-oriented manufacturing to other areas such as coastal services retail, tourism, construction and off. A study by the World Bank showed that the cumulative FDI in the retail sector in the 20 largest developing countries in the United States totaled $ 45 million in 1998-2002 (about 7 percent of these countries ) The study showed that, after liberalization. countries such as Brazil, Poland and Thailand received a significant investment in detail. Despite recent developments in the retail trade and its immense contribution to the economy, retailers are always the less developed areas and the growth of organized retail in India has been much slower in comparison to the rest of world. Over a period of 10 years, the distribution program organized in the total retail grew 10 percent to 40 percent in Brazil and 20 percent in China, while India is only 2 percent (to From 1995 -2005). A major reason for this is that retail is one of the few sectors where FDI is not permitted. In the country, there have been protests from trade associations and other interested ...
The objective of the Digi-sales H Special Secretariat for Digital Planning of the Ministry of Economy and Finance, in cooperation with the help of the company “s Digital contributes SA ‘ has set a goal to stimulate the use of ICT by businesses in the industry. details of past actions (“Go”, “electronic commerce”, “Digital Future”, “e-services”, etc.) were carried out either by EOMMEX or by its General Secretariat of Industry, or Society of SA performance was notably the creation of web stores and e-commerce infrastructure for small and medium in the country. And it can provide a point of e-business, if it causes a lot of interest attendance. However, the truth in the retail sector has changed considerably. Today, companies in the market to increased competitive challenges, while addressing an audience that may be more than one digital culture in the past. Today, consumers at rates significantly higher, search, compare and buy products online. informed of the quality of in-store service using social media marketing. Subject to the promotion of new types (marketing) are no longer limited to traditional varieties of advertising in traditional media, but extended to its connection to the Internet and mobile devices quickly. Competition with other ...
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