ByAnamika Chaturvedi

HIET GZB

The word ‘Retailing’ refers to breaking of bulk & any activity that involves the direct sale to an individual customer or end user

Retailing in India

Sustainable development in Retailing Sustainable development is defined “as development which meets the needs of the present without compromising the ability of future generations to meet their own needs”. environment, society, and the economy.

Reduce

Reuse

Recycling

Creating awareness – Printing sensitized taglines on the products (example - go green – save earth)

Sponsoring green events like World Environment day

Reduce power consumption Using materials for refrigerants that have will

lower the global warming Using re-cycled paper for printing of bills Use of eco-friendly bags like paper/jute bags as

against plastic bags

Efforts need to be done by retailers

Inclusive growthInclusive growth ensures the access of opportunities provides for all segment of society that ensure meaningful and sustainable shapes for all, which include the poorest and the rest

Inclusive growth by (FDI) in retailFDI in India grew 17% to $ 28 bn in 2013: UNCTAD

The Government of India has allowed 51 per cent FDI in Multi-Brand Retail Trading (MBRT) and 100 per cent in Single-Brand Retail Trading (SBRT). If organized retail can eliminate the middlemen in the farm-to-fork chain, it will boost the incomes of quite a few other Indians — about 650 million, who depend on farming for a living. Steadily-growing farm incomes and productivity can revolutionize India, raise health, education and environmental standards, and make growth truly inclusive.

Issues in Retail for Inclusive GrowthUnorganized Retailing.Refusal of 100 % FDI in multibranding.Fear to loss of small retailers.There is absence of strong infrastructure system in remote

areas. Supply chain expertise and manpower availability .Unawareness about E-Retailing.

Organized & Unorganized Retail sector in India

Online Retailing

India’s urban population has contributed immensely to the growth of the online market in the country. Around 30–40 per cent of the total retail in India’s top 75 cities is expected to be carried out online in the next 7–10 years

Key drivers of retail growth in India

   Higher incomes driving the purchase of essential and nonessential products.  Evolving consumption patterns of Indian customers.  New technology and lifestyle trends creating replacement demand.  Increase in rural income as well as urbanization.  Increase in easy access to credit and consumer awareness.  Growth of modern trade format across urban, Tier I, Tier II and Tier III cities and towns.  Rapid urbanization and growing trend towards nuclear families. FDI in Retail & eco friendly retailing.

MERCHANDISING:An entertainment center for children

10.0

Polite & courteous sales people

86.1

Quality of products 85.9

Non-intrusive sales people

76.2

Value for money 75.1

Attractive displays 75.0

Range of products 65.8

Schemes & promotions 48.8

Exchange/ return policy 44.1

A trial room 32.0

Eco-friendly products 20%

Acceptance of credit cards

25.1

CONCLUSION

In Retail marketing retailers have a major role to play in caring for the environment- political,

social and ecological.They need to adopt a holistic approach for a sustainable retail by

encompassing strategy, design and execution to increase revenue, manage risk, enhance brand and reduce cost in their day to day operations.

The retailers as well as consumer need to emulate the best global practices to save the planet to make it a better place to live for generations to come. They should encourage the “green initiatives”.

If each and every shareholder contributes  towards sustainability then the  combined effort will  benefit and it will ensure an inclusive growth and  bright future.