Growth opportunities in retail sector

Retail is the sale of goods and services from individuals or businesses to the end-user.the world Retail comes from the Old French word retailer which means “sale in small quantities”. A retailer purchases goods or products in large quantities from manufacturers directly or through a wholesale, and then sells smaller quantities to the consumer for a profit. The term retail is also applied where a service provider services the needs of a large number of individuals, such as for the public. Shops may be on residential streets or no houses or in a shopping mall, online retailing. There are two types of retail unorganized and organized.

What is retail?

The India Retail Industry is the largest among all the industries, accounting for over 10 per cent of the country’s GDP and around 8 per cent of the employment.

The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market.

Indian retail is expected to grow 25 per cent annually. Modern retail in India could be worth US$ 175-200

billion by 2016. Modern retailing has entered into the Retail market in

India in the form of bustling shopping centers, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof.

About Indian retail

 A large young working population with median age of 24 years.

A large young working population with median age of 24 years.

nuclear families in urban areas. Steep Growth in Earning Population (15-60 yrs). Growing Working Women Population Working women

can spend 1.3 times more than housewives Working. Purchasing power of Indian urban consumer is

growing and branded merchandise in categories like Apparels, Cosmetics, Shoes, Watches, Beverages, Food and even Jewellerys, are slowly becoming lifestyle products that are widely accepted by the urban Indian consumer.

49% FDI in multi-brand retail sector & 100% FDI in single brand

Growth Drivers for Indian retail industry

World of Franchising. As per study by Anderson consulting,

franchising in India accounts for 4% of the nations gross domestic product.

Franchise in different sectors of retail are healthcare,food,entertainment,eduction.

Traditional franchise in business are petrol, auto-dealers.

Some of big retail players those are offering Franchise are Bata, McDonald's etc….

Retail – Opportunities for Entrepreneurs

Retail Industry is being called the Sunrise sector of India.

Growing at a higher rate than the overall economy.

India is among the five most attractive markets for global retailers.

Major retail brands, including Wal-Mart, have aggressive expansion plans in Indian Retail. companies are increasingly focusing on technology, operations and processes.

Attraction for organized retail

Where Does Indian Retail Stand?

Rising disposable income of the Indian middle-class.

Changing consumer preferences and shopping habits.

Increase in working population. Increased awareness through the Internet

and easy online purchases. Easy credit availability. Retail investment. Availability of quality real estate. Improvement in infrastructure

Reasons for growth in organized retail of India

Share of organized retail

Pantaloon Tata Group Reliance 

Landmark Group

Bharti Wal-Mart

IKEA 

Honda Motorcycle

shoppers stop

Birla Group

Apple Store

Future Group 

Metro Cash & Carry

Retail Majors Operating in India

In the year 2011=The retail sector accounted for 8% of the total employment in India.

In the year 2012=Reforms announced by the Indian government (allowing 100%FDI in single brand retail and 49% FDI in multi-brand retail).

In the year 2014=Fresh investments into retail (following reforms announced in2012) could create as many as 10 million new jobs.

FDI retail in china= 26 million new jobs were created in less than a decade.

Retail Career Opportunities

retail industry is most appealing. You can choose to work with fashion, sports, food, education, furniture or technology, depending on what excites you.You can work in a store, facing customers every day. Looking into the financial, human resource and space management aspects. A career in the retail sector can help you learn to identify what customers want and how to ensure that they have a pleasant experience. In an era when the customer is king, retail exposure can create a strong footing.

Retail career

Customer support executives=this is the basic entry level profile. this experience is crucial for understanding how customers behave and react on things.

Floor manager=The floor manager manages the activities of all the sales executives and the day-to-day operations on a particular floor of the retails tore. They report to the store manager.

Store manager=They are responsible for managing the stores complete day-to-day operations. They are in charge of all the employees and are also responsible for the revenues and profits generated by the store and need to report these figures to the zonal or regional head of the company. They may report directly to the store owner or an area manager or regional manager.

Popular Retail Career

Retail manager=plan and co-ordinate the operations of the outlet under store management. their work may include monitor retail orders, layout of merchandise, checking the inventory, analyzing the supply etc..

Retail merchandisers=these people are involved in sourcing or buying of various items for the retail store. they are responsible for making purchasing decisions.

Visual merchandisers=these people are very important, as they give the brand face. they make designs and develop concept for all merchandise. they may be designers, product developers, store planners etc..

Continue………

Retail is largest private industry in the world

Over 50 of the Fortune 500 companies are retail companies.

25 of the Asian top 200 companies are retail companies.

The world’s largest company in a retail is Wal-Mart.

Continue………

interesting facts about the retail giant Wal-Mart.