Are Indian Retailers Are Indian Retailers ready for Mall ready for Mall Culture? Culture? Authors: Authors: 1. Prof. Pritee Saxena 1. Prof. Pritee Saxena Faculty Member-Marketing Faculty Member-Marketing ICFAI Business School, Mumbai ICFAI Business School, Mumbai 2. Prof. Satish Ailawadi 2. Prof. Satish Ailawadi Associate Professor-Marketing Associate Professor-Marketing VES’s Institute of Management Studies & VES’s Institute of Management Studies & Research, Mumbai Research, Mumbai
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Are Indian Retailers Are Indian Retailers ready for Mall ready for Mall
Culture? Culture? Authors:Authors:
1. Prof. Pritee Saxena1. Prof. Pritee SaxenaFaculty Member-MarketingFaculty Member-Marketing
ICFAI Business School, MumbaiICFAI Business School, Mumbai
2. Prof. Satish Ailawadi2. Prof. Satish Ailawadi Associate Professor-MarketingAssociate Professor-Marketing
VES’s Institute of Management Studies & Research, VES’s Institute of Management Studies & Research, MumbaiMumbai
THE ROADMAP….THE ROADMAP….
• The Changing Retail Scenario• Retail Real Estate in India• Malls or High-Streets?• The Study..• FDI in Retail• Conclusion….
RETAIL CHANGE….RETAIL CHANGE….
YEAR 2004
Total Retail Market: INR 13139 Bn
Total Organized Retail Market : INR 152 Bn
Share of Malls: INR 29Bn
YEAR 2010
Total Retail Market: INR 20850 Bn
Total Organized Retail Market : INR 524 Bn
Share of Malls: INR 384.47Bn
INDIAN RETAIL BY 2006-07INDIAN RETAIL BY 2006-07• 50 million sq. feet of space under development.• 7 major cities to account for 41 mill sq. feet under
development.• 300 malls, shopping centres and multiplexes under
construction.• To have 35 Hypermarkets,325 large Departmental Stores,
and 1500 Supermarkets.
(Source: Images Retail)
Key facts…Key facts…• Organised Retail to form 10% of total Retailing by the end of
this decade.• Cultural and Regional differences are the biggest challenges.
They deter Retailers, from adopting a single format.• Hypermarket is emerging as the most favourable format, for
the time being.• Convenience store is the best way to tackle Unorganised
market.• India’s vast middle class and its virtually untapped Retail
Sector are key attractions for global Retail Giants.• 51% FDI in single brand retailing allowed to attract
investment and technology and to cater to the demand for branded goods in India.
• Of the total organised retail space being developed pan-India, 35% is to come up in Tier –II and Tier – III cities.
( Source – Knight Frank Research & Bharat Book Review )