Summary, conclusion and recommendation Findings : 1. A total of ___ kirana shops from 7 talukas in thane district were chosen to study the significant competitive strengths of unorganized retailers of Kirana stores and their survival strategies to face the challenges in retail market. It is observed that the unorganized kirana stores are becoming more prosperous with their survival strategies in the organized retail market. 2. Unorganised retailers in the vicinity of organized retailers experienced a decline in their profit and business volume in the initial years after the arrival of the organized retailers; however, it changed gradually. 3. Most of the unorganized retailers of kirana stores initially feared losing their customer but now …show more content…
Majority of unorganized retailers of kirana stores interviewed were undertaking some changes to retain their customers’ patrons, but when it came to changing in to an air condition store, uniform for their staff and acceptance of credit cards. Most of them were shown their unwillingness could be because of the feeling that they can win over their customers by other ways rather than adopting such superficial changes and passing the cost of this makeover on their customers. 13. Most of the unorganized retailers of kirana stores are not joining and also not aware the advantages of an association. Therefore, there is a responsibility of kirana association to spread awareness about itself. 14. Unorganized retailers of kirana stores through the personal attention they give customer and their trustworthiness seems to win the hearts of their customers which makes it very clear that they will surely face the competition, survive and co-exit with their organized retailers. 15. Majority of Unorganized retailers of kirana stores give an impression to know their customers well. Since most of them are aware their customers are well informed about their rights, this can be added advantages for unorganized retailers to serve their customers well and keep them happy and …show more content…
Unless and until the fruit of liberalization, privatization and globalization reaches to the lowest strata of the society, it is conceived that there is no threat to unorganized retail shops in India as lowest strata of society depends on daily wages and they hesitate to peep into glittering super and hyper markets. Hence, they wish to visit the shops in their locality and the small shop owner have rapport with locals and this nearness makes the shop owner dearest to locals. The support extended by the locals is a pivot to the foundation of small kirana shops. 20. In Thane district, retail market is slowly and steadily moving towards organised sector, but still there is great impact of unorganised retail sectors, Both the sectors having their own different place in the minds of the customers. 21. Majority of Unorganized retailers of kirana stores mentions that the organized retail markets do not impact their business at all. They believe that none of them can serve their customers the way they can – credit, home delivery and variety of goods being the key. 22. Customer can walk into their stores and pick up anything, and the retailers know that they will pay them next month. They points out too, intelligently, those little knick-knacks that one would not find in a organized retail
has week chance to compute with rest of retailers which have strong tie with the society.
Many researchers have made efforts to study retail change, based on the assumption that they can gain an...
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Paco Underhill has created a way for stores to draw more customers in and spend more money by getting in the mind of the customers. I found some of Underhill’s theories to be true. Underhill’s theories have helped provide research of the actions of consumers inside of American Eagle, Meijer and Hollister, these theories include, the need for shoppers to acclimate to their surroundings, the way customers turn into stores, and by placing most used products in the farthest places away from the
The arrangement of operations with the client guarantee under the most favorable conditions exhibited through its outcomes: comp store deals have ascended for 27 back to back quarters as the organization 's one of a kind, universally sourced collections and energizing in-store encounter drive client dependability. There is a sustained competitive advantage. The TJX demonstrate has demonstrated effective all through financial cycles and in spite of expanding rivalry for on the web. In the inexorably difficult universe of physical retail, TJX has secured a particular upper hand that seems solid. The organization 's longstanding notoriety in the business for scale, liquidity, and ability prompts solid seller connections, giving purchasers the influence to source the most ideal item. The stores ' adaptable format and sourcing guarantee stock in the store is suitable to the area and season, giving chiefs adaptability to react to client request progressively and test new activities easily. The organization 's proceeded with worldwide extension is expanding brand acknowledgment around the globe as the organization conveys extraordinary qualities to a developing pool of clients. The organization 's moderate move into the online space is intended to supplement the current model, driving incremental deals to the physical business in view of incremental pedestrian activity for in-store returns. TJX 's anticipated money related returns makes
It has been said that retailers may no longer compete purely retail activity alone and must incorporate various factors relating to overall efficiency of the whole supply chain and in turn overcoming ever expanding management issues of which arise throughout business activities. (Fernie & Sparks. 2004)
five forces • Trend towards “omnichanel” strategy – flexibility for the consumer The Multiline retail industry can be divided into two large segments: Department stores and General Merchandisers/Discounters. Department stores tend to offer a more upscale experience while discounters tend to offer a larger array of products at low, bargain prices. Target can be classified as a General Merchandiser, but faces intense competition not only from competitors within its sub-section (16, Industry
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
Online platform owners and big retailers: India Bazaar faces tough competition from big retailers like Walmart, Loblaw’s and local Indian grocery shops located in Surrey region. Although the development of online platforms for grocery sales provides an opportunity to retailers, it possesses a threat to traditional grocers like India Bazaar. These grocers face competition from traditional online stores like Amazon.com Inc. (AMZN), which are expanding their presence in the still-nascent
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
Kishore Biyani the CEO of the future group has vast understanding of the consumer insight, has inculcated the habit of observing, understanding consumers, in every employee of the group. In India whenever a consumer needs household items, a typical thought is to seek from the bazaar where complete range of products is available to the consumers. As the store comprises of large mix of products at a discounted price, the name big bazaar was finalised. The idea was to recreate a complete bazaar, with a large product offering and to offer a good depth and width in terms of range.Price was the basic proposition at big bazaar. The big bazaar outlets sold wide range of goods at prices which were 5 to 60% lower than the market price. The line “Is se sasta aur acha aur kahin nahi” best describes RETAIL MARKETING MIX
2. Organized Retail: The emergence of organized retail have lead to more variety with ease in browsing, opportunity to compare with different products in a category, one stop destination (entertainment, food and shopping) etc, which is playing an important role in bringing boom in the Indian FMCG market. Currently the modern trade is capturing 5% of the total retail space, which will increase to 10% and 25% in 2010 and 2025 respectively. Also, as the credit card and organized retail trend picks up, people won’t think much while buying and buy more.
Here, visual merchandising will be a beneficial tool in defining the exclusive identity of the brand and thereby increasing the sales and their market value. It is the appropriate time that the Indian retail industry understands and adopts the beneficial traits visual merchandising rather than the traditional practices of display of products and communication via sales personnel. The customers are trends aware and the stores on the other hand have managed to up the glamour quotient. Only a link of brand communication between the brand products and shoppers remains missing. (Pundir, 2007)
The nature of the business of retailing puts retailers at a assumed risk of incurring costs because products are bought with the assumption that consumers will purchase. Additionally there are external factors that may also pose risks such as natural disasters, theft, spoilage and fire. In other circumstances retailers also extends financial credit to customers in the form of credit sales which facilitates the smooth transition from retailers to the marketplace. Retailers are in constant contact with customers which gives them the opportunity to research and study buyer’s behaviour. This involves collecting information about changes in customer preferences, perception and shifts in the demand curve. Through advertising within their stores retailers are able to exhibit and introduce existing and new products to the marketplace. Ultimately retailers are in the business of selling products to customers to achieve their goals of generating
Department stores do not manufacture products nor create their own brands of merchandise, their products are not differentiated. As a result, consumers have low switching costs, customer loyalty is low, as they can easily purchase similar products elsewhere. These lower the barriers to entry, allowing new entrants a chance to gain customers.