Trends in Retailing
ABSTRACT
The word retail has a very small meaning , it means ‘to cut or to break the bulk’, however the term Retail Management is not a small concept , it has a very broad meaning and a wide framework. When we say that Retailing is dynamic , it simply means that is progressive in nature , it keeps on changing itself with the emerging trends. There are various elements that are working as the forces for retail dynamics. One such force is Rural retail. The retail business in India accounts for Rs 7400 billion with about 1200 million retailers.90percent of retail shops are kirana stores .Rural India has about 3.7 million shops spread over 063 million villages , with an average of six shops per village with an average sale of Rs 5000 only.
In recent years, rural markets have acquired significance in countries like China and India, as the overall growth of the economy has resulted into substantial increase in the purchasing power of the rural communities. On account of the green revolution in India, the rural areas are consuming a large quantity of industrial and urban manufactured products. In this context, a special marketing strategy, namely, rural marketing has taken shape. Also rural market is getting an importance because of the saturation of the urban market. As due to the competition in the urban market, the market is more or so saturated as most of the capacity of the purchasers have been targeted by the marketers.So the marketers are looking for extending their product categories to an unexplored market i.e. the rural market
Rural retail includes fast moving consumer goods ,durables, agricultural inputs and vehicle .The total rural market forms around 40 percent of the total size of the retail market in India.
INTRODUCTION
There may be a slowdown in urban retail, but `Bharat' is still shining for retailers. The next phase of growth is expected to come from rural markets with rural India accounting for almost half of the domestic retail market,
The word retail has a very small meaning , it means ‘to cut or to break the bulk’, however the term Retail Management is not a small concept , it has a very broad meaning and a wide framework. When we say that Retailing is dynamic , it simply means that is progressive in nature , it keeps on changing itself with the emerging trends. There are various elements that are working as the forces for retail dynamics. One such force is Rural retail. The retail business in India accounts for Rs 7400 billion with about 1200 million retailers.90percent of retail shops are kirana stores .Rural India has about 3.7 million shops spread over 063 million villages , with an average of six shops per village with an average sale of Rs 5000 only.
In recent years, rural markets have acquired significance in countries like China and India, as the overall growth of the economy has resulted into substantial increase in the purchasing power of the rural communities. On account of the green revolution in India, the rural areas are consuming a large quantity of industrial and urban manufactured products. In this context, a special marketing strategy, namely, rural marketing has taken shape. Also rural market is getting an importance because of the saturation of the urban market. As due to the competition in the urban market, the market is more or so saturated as most of the capacity of the purchasers have been targeted by the marketers.So the marketers are looking for extending their product categories to an unexplored market i.e. the rural market
Rural retail includes fast moving consumer goods ,durables, agricultural inputs and vehicle .The total rural market forms around 40 percent of the total size of the retail market in India.
INTRODUCTION
There may be a slowdown in urban retail, but `Bharat' is still shining for retailers. The next phase of growth is expected to come from rural markets with rural India accounting for almost half of the domestic retail market,