06-09-2012, 12:34 PM
A STUDY OF CONSUMER PFERENCE IN GARMENT IN ADANI HYPERMARKET AT AHEMDABAD
1A STUDY OF CONSUMER.doc (Size: 1.4 MB / Downloads: 56)
INTRODUCTION
The first question that must be considered is: what is ‘retail’? The word retail is, in fact, derived from the French word RETAILER, which means to cut off a piece or break bulk. A retailer may be defined as a ‘dealer or trader who sells goods in small quantities’ or’ one who repeats or relates’. Retailing can hence, be considered as the last stage in the movement of goods and or services to the consumers. put simply, any firm that sells products to the final consumer is performing the function of retailing .it thus consists of all the activities involved in the marketing of goods and services directly to the consumers, for their personal, family or household use.
The past century has been witness to many changes occurring in our everyday world. Industrial and technological growth has made a significant impact on our lives as consumers. One such industry, which has made a phenomenal impact on our daily lives, is retail. This industry touches our lives as end consumers, by providing us with the products or services that we need.
Almost everything we use in our daily lives including the feed we eat, the clothes we wear, and the things we need for our homes or for ourselves, are bought from retail stores. Goods are manufactured all over the world but are ultimately sold to us through these retail stores.
India has already proven its mettle as superpower in the arena of information technology. The retail industry offers to bloom to the same level if conductive environment and support is provided it. India’s one billion populations make the country the second largest in the world in terms of population which is the very basis for successful organized retailing. We should take heart from the fact that most of the world’s successful retail stories in the developed as well as developing countries have shaped up in small towns and villages.
INDUSTRY PROFILE
GLOBAL RETAILING
Retailing is the final step in the distribution of merchandise - the last link in the Supply Chain - connection the bulk producers of commodities to the final consumers. Retailing covers diverse products such as foot apparels, consumer goods, financial services and leisure.
A retailer, typically, is someone who does not effect any significant change in the product execs breaking the bulk. He/ She is also the final stock point who makes products or services available to the consumer whenever require. Hence, the value proposition a retailer offers to a consumer is easy availabilities of the desired product in the desired sizes at the desired times.
Many retailers did globalize, and some succeeded. Yet many more retailers, especially U.S.-based retailers, struggled and failed to find the holy grail of globalization.
Indeed, the retailing industry is littered with the charred remains of investments that drained cash from the bottom line. Retail behemoths were humbled by poorer, technically unsophisticated local companies that simply knew their customers better. They were sideswiped by financial crises in such disparate locations as Argentina, Indonesia, Russia, and Mexico. So is there still hope for retail globalization? The answer is yes.
Despite the many failures, there are also many successes. The factors that drove enthusiasm in the past have not disappeared. Emerging markets still represent the greatest hope for increased spending power, home markets are still laden with excess capacity and slow growth, and big retailers still have much to offer consumers in emerging countries.
In the developed countries, the retail industry has developed into a full-fledged industry where more than three-fourths of the total retail trade is done by the organized sector. Huge retail chains like Wal-Mart, Carr four Group, Sears, K-Mart, McDonalds, etc. have now replaced the individual small stores. Large retail formats, with high quality ambiance and courteous, and well-trained sales staff are regular features of these retailers
Trends in Retailing
Retailing in India is at a nascent stage of is evolution, but within a small period of time certain trends are clearly emerging which are in line with the global experiences. Organized retailing is witnessing a wave of players entering the industry. These players are experimenting with various retail formats. Yet, Indian retailing has still not been able to come up with many successful formats that can be scaled up and applied across India. Some of the notable exceptions have been garment retailers like Madura Garments & Raymond’s who was scaled their exclusive showroom format across the country
Emerging Channel Conflicts
The relationship between manufacturers, wholesalers, middlemen and retailers need to improve so that business practices are smooth and stock outs in India become uncommon. In the grocery sector, for example, there are still no direct transactions between major owners and large retail chains-with local suppliers still being routed through the company’s distributors. Direct interaction through intermediation of the distributor could lead to conflicts for the larger part of the business of brand owners. However, with recent changes and growth in the retail segment, the supply chain relationship is also likely to undergo several changes in future years.
Brand Competition
The Indian urban consumer is quite aware of international trends and most consumers are very value-conscious. Indian retailers need to be extremely efficient in their operations and design, as the value-conscious Indian consumers will not pay more for a superior shopping experience. What this means for international brands is that they need to clearly offer contemporary designs and provide value to the Indian consumer - even if this means adapting their international designs to suit local conditions.
With the advent of global competition in the retail sector, domestic companies will have to learn to keep up with the trends of the market or face the consequences of shutting down. But consumers have benefited from this competition as it provides them with a larger variety of choices and a better standard of living.
Franchising Development
Transnational retail giants have opened up stores in India through franchise arrangements with Indian promoters. Marks and Spencers have recently opened its store in New Delhi and Mumbai through the licensee route.