Rural Retail
RURAL RETAIL: AN EMERGING CONCEPT OF RETAILING
By: Ms. Sweta Sharma (Assistant professor) Vidya Bhawan College for engineering and technology
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 it 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
This paper basically aims to show that what are the emerging trends in rural retailing, how the organised retailing can be successfully brought in the rural market, what precautions should be taken into consideration by various firms while entering the rural market, what are the
By: Ms. Sweta Sharma (Assistant professor) Vidya Bhawan College for engineering and technology
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 it 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
This paper basically aims to show that what are the emerging trends in rural retailing, how the organised retailing can be successfully brought in the rural market, what precautions should be taken into consideration by various firms while entering the rural market, what are the