World's eye on Indian Retail
And it’s crystal clear why the world’s eye on Indian retail
The Indian retail industry is the fifth largest in the world. Comprising of organized and unorganized sectors, India retail industry is one of the fastest growing industries in India Though initially, the retail industry in India was mostly unorganized, however with the change of tastes and preferences of the consumers, the industry is getting more popular these days and getting organized as well.
The retail industry in India is currently growing at a great pace and is expected to go up to US$ 833 billion by the year 2013. It is further expected to reach US$ 1.3 trillion by the year 2018 at a CAGR ...view middle of the document...
The report further stated that global retailers such as Walmart, Carrefour, Tesco and Casino would take advantage of the more favourable FDI rules that are likely in India and enter the country through partnerships with local retailers. Other retailers such as Marks & Spencer and the Benetton Group, who operate through a franchisee model, would most likely switch to a hybrid ownership structure.
However, in order to achieve breakthrough growth the global retailers might have to face some glitches in India. High taxes, poor infrastructure, bureaucratic hurdles and high cost of real estate are some of the challenges that overseas retailers may have to tackle in the country.
In present scenario Food ,Apparel Category ,are growing Rapidly than other categories.
Urban retailing Vs Rural retailing
however More than half of retail market in India is in the rural areas (55%); although share of urban market is increasing by almost 5% every 8-10 years .
rural India , Accommodating almost two-third of the country's consumers and generating almost half of the national income. the rural India offers tremendous opportunities for organized retailers which many companies have failed to access. According to the study conducted by NCEAR, the number of `lower middle income' group in rural areas is almost double as compared to the urban areas, having a large consuming class with 41% of the Indian middle class and 58% of the total disposable income.
Itc choupalfresh , Hariyali kisan bazaar, Future groups ‘s Adhar are the main players in these .domain .these players offers all under one roof ,which is challenging in terms offering range price and in time
Following are the Main urban players in Retail Ground
Future value retail limited -one of the biggest retailers in India with more than 450 stores across the country. Headquartered in Mumbai,Main flagship brand of this group is Big Bazaar ,
Big Bazaar is a chain of hypermarket in India, which caters to every family’s needs and requirements. THIS KING OF Indian retail market is proudly, with tagline of Isse sasta aur Accha kahi nahi !!!This retail store is a subsidiary of Future group, Pantaloons Retail India Ltd. and is an answer to the United States’ Wal-Mart. Big Bazaar has released the doors for the fashion world, general merchandise like sports goods, cutlery, crockery, utensils, and home furnishings etc. at best economical prices.
Big Bazaar group offers more than 150 stores all over the country with an amalgamation of Indian bazaars’ feel and touch with a convenience and choice of the modern retail facilities. The retail format of the Big Bazaar group includes Aadhar, Rural & Home-Town retail chain, Ezone home-improvement chain, sportswear retailer, depot and music chain is few among others.
History of Big Bazaar
The worldwide country chain, Big Bazaar, is formed by CEO of Future Group; Mr. Kishor Biyani.one must read Book written by biyani, It happened in India...