Globalisation, Privatization And Globalization In The Indian Retail Industry

The provisional estimate of the relative importance of the different types of retail organization with which is concerned could hardly be said to present a picture of long-established and stable conditions, but rather one of a branch of commerce, in a state of rapid development. It is a comparatively easy task to catalogue the various types of retail organization and trading policy, and even to estimate their relative importance, it is a much more difficult one to attempt to interpret contemporary trends which are making for change. But the problems of retail trading both those which are presented to the retailer himself and those which are solution adopted presents to the whole economy, cannot be understood except by their light.

Some of

The impact of globalization has been highly positive in almost all spheres of economic and social life. Globalization is increasing the integration of national markets and the interdependence of countries worldwide for a wide range of goods, services and commodities. The Retail sector has played an important role throughout the world in increasing productivity of consumer goods and services. The Indian retail industry is going through a period of golden sunshine. The emerging trends in the Indian organized retail sector are also adding up to the development of the Indian retail

and various levels of usage are emerging such as data warehousing/mining, supply chain management, scanner data, bar-coding, etc.

• The latest fad for fragrance retailing is now enamoring the great Indian retail dream, so also the emergence of private labels.

• Loyalty schemes and reward points are being extensively used to retain and reward customers, e.g. First Citizen (Shoppers Stop), Green Card (Pantaloons).

• Store design is becoming international, e.g. Hypercity has partnered with JAP of London for its store design.

• The emergence of retail brands e.g. Stop, Fresh &Pure etc.

The number of outlets in India have increase from 0.25 million in 1950 to approximately 12 million today. This translates to a growth of 48 times over a certain period when the population has trebled.12 India is being seen as a potential goldmine for foreign as well as domestic retail players, as it is an emerging retail market and has the highest retail density in the world. The following tables showing the domestic as well as foreign retail players in Indian retail market with their investment