Advantages And Disadvantages Of Retail

Numerous researches have been done in past about this topic but to mention all would go beyond the purview of this paper hence only a few selected ones have been stated herein.

In 1987, Brown explained the costs of a retail format in relation to consumer costs. He referred to various costs incurred by the consumers such as effort, time, or psychological costs along with monetary costs. Non-store formats then emphasized especially on savings in non-monetary costs. Their major appeal is the ease of shopping and convenient access they provide beyond the constraints of location.

Rao in 1999, talked about benefits of e-commerce for retailers which gave them burgeoning market access and information with the benefits of lesser procurement and

A retailer can be defined as a trader who recurrently sells commodities in small quantities. The sale of goods or commodities in small quantities is done directly to consumers. According to PHILIP KOTLER

Retailing comprises of all the activities related to selling goods or services to the final consumers for their personal use. A Retailer or Retail store is any business enterprises whose sales volumes comes primarily from retailing.

TYPES OF RETAIL SECTOR

In India, Retailing is a major pillar of the economy and accounts for 35% of GDP. The retail industry comprises of organized and unorganized sectors. More than 12 million outlets function in the country and only 4% of them are larger than 500 sqft in size. ORGANIZED

They are located mainly in metro cities, in close proximity to urban outskirts. Their area can range from 60,000 sqft to 7,00,000sqft and beyond. They lend an ideal shopping experience with a carnival of product, service and entertainment; all under one roof. Its examples include Shoppers Stop, Pyramid, and Pantaloon.Shopping-centres. The development of malls across India has attracted the attention of real-estate developers and corporate houses. Earlier it was the large, organized retailers with their up-to-date, up-market outlets, and direct consumer interaction- who had been a key factor driving the growth of organized retail in the country, now it is the malls which are playing the role. Division in malls such as up-market malls, mid-market malls, accurate planning, quality products at lower prices, correct identification of needs and the right timing can certify the success of the mall revolution in India.

SPECIALTY STORES

Several chains such as the Bangalore based Kids Kemp, the Mumbai books retailer Crossword, RPG 's Music World and the Times Group 's music chain Planet M, are aiming on specific market segments and have proven themselves strongly in their sectors.

DISCOUNT STORES

Discount stores or factory outlets, as their names suggest offer discounts on the MRP by selling in bulk and reaching economies of scale or excess stock left over at the season. Their product category can vary from