Retailing in India- A Retailer Perspective

Abstract

Retailing involves understanding the needs of consumers, developing good assortment of merchandise and displaying the merchandise in an effective manner, to enhance the attractiveness and motivation of consumers to buy. In the recent past, the Indian retail market is witnessing revolutionary transformation and organized retail format is gradually overtaking the unorganized retail format. The FDI declaration by Govt. of India in multi brand retail has accelerated the growth of organized retailing with the flood gates being opened for foreign retailers to set up their shops in Indian markets. This will kindle a high level competitive environment. It means organized retailers need to be more consumer centric. In this context, the present study aims at assessing and understanding the retailers perspective, in terms of self and environment analysis, influencing factors such as vendors, ware houses etc and accordingly adopting appropriate marketing strategies. The study reveals that the retailers have a good understanding of changing environment such as new FDI policy and its impact, have taken adequate measures such as inventory management to reduce the cost and faster delivery of products and formulating appropriate marketing strategies including building up customer relationship, quality services to customers aiming all these for better image development.

Keywords: Foreign Direct Investment (FDI), Inventory Management, Customer Relationship, Quality Service

View PDF