Retailing consists of all activities involved in selling goods and services to consumers for their personal, family or household use. It covers sales of goods ranging from automobiles to apparel and food products and services ranging from hair cutting to air travel and computer education. Sales of goods to intermediaries who resell to retailers or sales to manufacturers are not considered a retail activity. Retailing can be examined from many perspectives. A manufacturer of white goods like washing machine and refrigerators has many options to reach out to consumers. It can sell through dealers, the company showrooms (Sony World, Videocon Plaza) or hypermarkets (Big Bazaar). The retail sector in India is highly fragmented with organized retail contributing to only 2% of total retail sales. The retail sector in developed countries was also highly fragmented at the beginning of the last century but the emergence of large chains like Wal Mart, Sears, and Mc Donald’s led to rapid growth of organized retail and growing consolidation of the retail industry in the developed countries. Today, in India we see a rise in the purchasing power and growth of a middle class which follows the western lifestyle. Hence, conditions are conducive for the rapid growth of organized retail in India. Organized retail is growing rapidly and we see the emergence of large organized retail chains like Shoppers’ Stop, LifeStyle and Westside. We also find retail malls mushrooming all over the country. The opportunities in retail industry in India will increase since Indian retailing is on the threshold of a major change. However, with the rapid growth in organized retail and increased emphasis of manufacturers on understanding sales at the retail level, the study of retailing has become increasingly relevant.
OBJECTIVE OF PROJECT
v To understand the concept of retailing. v To understand the role and relevance of retailing for business and economy. v To identify the activities associated with retailing v To understand the operational structures associated with retail organizations v Understanding consumer behaviour in retailing v Understanding the importance of store location for a retailer v To understand the nature of merchandise budgeting and unit planning v To understand the concept of relationship marketing and how does it apply to the
This project is the mixture of theoretical as well as practical knowledge. Also it contains ideas and information imparted by the guide. The secondary data required for the project was collected from various websites and books of reputed authors.
The project started with sorting all the raw data and arranging them in perfect order. To add value to the project and to understand the practicality of retailing business, I have visited various stores who are the best ones in retailing business.
Further, to understand the consumers better, a field survey was also conducted to find out the tastes and preferences, purchasing habits, expectations of the consumers etc. Analysis of this primary data has been done to actually understand the survey in a better way.
ORIGIN OF RETAILING Although retailing does not enjoy the status of an Industry, the sheer size this behemoth will develop into, is grabbing attention. The origin of retail in India dates back to ancient times when the melas and mandis made heir presence felt. The changing socio economic patterns coupled with the consumption increase led to the emergence of the convenience stores, which became a par of the civic planning. The next step was the commercial plazas, which comprised merely shops offering a variety of goods and services clubbed together. The inconveniences caused by lack of parking place, toilets and maintenance, ushered in the entry big international brands opening their exclusive showrooms. The opening up of the economy only fueled this globalization. There are,...
Please join StudyMode to read the full document