Aug 19, 2014
INTRODUCTIONEvery business conducted for the purpose of selling or offering for sale any goods, wares, or merchandise, other than as a part of a "wholesale business" to the final consumer can be defined as retail business Retail is the second-largest industry in the United States both in number of establishments and number of employees. The U.S. retail industry generates $3.8 trillion in retail sales annually ($4.2 trillion if food service sales are included), approximately $11,993 per capita. The retail sector is also one of the largest worldwide. Wal-Mart is the world's largest retailer and the world's largest company with more than $312 billion (USD) in sales annually. Wal-Mart employs 1.3 million associates in the United States and more than 400,000 internationally. The second largest retailer in the world is France's Carrefour. WHAT IS RETAILING? Retailing is all the activities involved in selling goods and services directly to final consumers for their personal, non-business use. The word retail is derived from the French word retailer, meaning to cut a piece off or to break bulk. A retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells individual items or small quantities to the general public or end user customers, usually in a shop, also
called store. Retailers are at the end of the supply chain. Marketers see retailing as part of their overall distribution strategy.
TYPES OF RETAILINGRetailing can be classified under two heads: Store Retailing Non-store Retailing
Store RetailingRetail stores come in a variety of shapes and sizes, and new retail types keep emerging. They can be classified by one or more of several characteristics: Amount of service Product line Relative prices 1) AMOUNT OF SERVICE Different products require different amounts of service, and customer service preferences vary: Self-service retailers Customers are willing to perform their own "locate-compare-select" process to save money. Today, self-service is the basis of all discount operations, and typically is
used by sellers of convenience goods (such as supermarkets) and nationally branded, fast moving shopping goods (such as catalog showrooms).
Limited service retailers Retailers such as Sears and J. C. Penney, provide more sales assistance because they carry more shopping goods about which consumers need information. Their increased operating costs result in higher prices. Full service retailers Like specialty stores and first-class department stores, have salespeople to assist customers in every phase of the shopping process. Full service stores usually carry more specialty goods for which customers like to be waited on. They provide more liberal return policies, various credit plans, free delivery, home servicing, and extras such as lounges and restaurants. 2) PRODUCT LINE: Retailers can also be classified by the depth and breadth of their product assortments. The depth of a product assortment refers to the number of different versions of each product that are offered for sale. The breadth of the assortment refers to the number of different products that the store carries.
Specialty stores carry a narrow product line with a deep assortment within that line. Examples include stores selling sporting goods, books, furniture, electronics, flowers, or toys. Today, specialty stores are flourishing, due to the increasing use of market segmentation, market targeting, and product specialization. A department store carries a wide variety of product lines. Each line is operated as a separate department managed by specialist buyers and merchandisers. Supermarkets are large, low-cost, low-margin, high-volume, self-service stores that carry a wide variety of food, laundry, and household products. Convenience stores are small stores that carry a limited line of high-turnover convenience goods. These stores located near residential areas and remain open long hours, seven days a week. Convenience stores must charge high prices to make up for higher operating costs and lower sales volume, but they satisfy an important consumer need. Superstores, combination stores, and hypermarkets are all larger than the conventional supermarket. Many leading chains are moving toward superstores because their wider assortment allows prices to be 5-6% higher than conventional supermarkets'. Combination stores are combined food and drug stores. Examples are A&P's Family Marts and Wal-Mart's Super centers. Hypermarkets combine
discount, supermarket, and warehouse retailing, and operate like a warehouse 3) RELATIVE PRICES
Retailers can also be classified by the prices they charge. Most retailers charge regular prices and offer normal quality goods and customer service. Some offer higher quality goods and service at higher prices. Retailers that feature low prices include: Discount stores sell standard merchandise at lower prices by accepting lower margins and selling higher volume. Occasional discounts or specials do not make a store a discount store. A true discount store regularly sells its merchandise at lower prices, offering mostly national brands, not inferior goods.
OBJECTIVE OF THE STUDY SPECIFIC OBJECTIVE 1. To find out the contribution of Bin Sale in total sale of Big Bazaar & food Bazaar. SUB OBJECTIVE1. To find out the productivity of the Bins 2. To find out the suitable impales for the Bins.
3. To find out the browser and purchase
RETAILING Retailing consists of business activities involved in selling goods and services to consumers for there personal, family or household use. It includes every sale of products to the final consumer. It is the last stage in the distribution process. A retailer or retail store is any business enterprise8
whose sales volume comes primarily from retailing. Any organization selling to the final consumer whether manufacturer, wholesaler or retailer is doing retailing. It does not matter where how the goods are sold or where they are sold. There is a tendency to think of retailing as primarily including the sale of tangible goods, but it is essential to recognize that retailing also includes the sale of services. The word retailing is derived from the French word retailer which means to cut up.
INDIAN RETAIL SECTOR
Organized retailing has finally emerged from the shadows of unorganized retailing and is contributing significantly to the growth of Indian retail sector. Some facts about the Indian retail sector:
Retail is Indias largest industry, accounting for over 10% of the countrys GDP and around 8% of the employment.
The sector is expected to increase three fold from the present Rs 5 billion. Organized retail will form 10% of total retailing by the end of this decade (2010).
From 2006 to 2010, the organized sector will grow at the CAGR (Cumulative Annual Growth Rate) of around 49.53% per annum.
Hypermarket is emerging as the most favorable format for the time being in India. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian
population is going to take a higher growth trajectory. The Indian population is witnessing a significant change in its demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India.
India is the country having the most unorganized retail market. Traditionally it was a family's livelihood, with their shop in the front and house at the back, while they run the retail business. More than 99% retailer's function in less than 500 square feet of shopping space. Global retail consultants KSA Technopak have estimated that organized retailing in India is expected to touch Rs 35,000 crore in the year 2005-06. The Indian retail sector is estimated at around Rs 900,000 crore, of which the organized sector accounts for a mere 2 per cent indicating a huge potential market opportunity that is lying in the waiting for the consumer-savvy organized retailer. Purchasing power of Indian urban consumer is growing and branded merchandise in categories like Apparels, Cosmetics, Shoes, Watches, Beverages, Food and even Jewellery, are slowly becoming lifestyle products that are widely accepted by the urban Indian consumer. Indian retailers need to advantage of this growth and aiming to grow, diversify and introduce new formats have to pay more attention to the brand building process. The emphasis here is on retail as a brand rather12
than retailers selling brands. The focus should be on branding the retail business itself.There is no doubt that the Indian retail scene is booming. A number of large corporate houses Tata's, Raheja's, Piramals's, Goenka's have already made their foray into this arena, with beauty and health stores, supermarkets, self-service music stores, new age book stores, every-day-low-price stores, computers and peripherals stores, office equipment stores and home/building construction stores. Today the organized players have attacked every retail category. The Indian retail scene has witnessed too many players in too short a time, crowding several categories without looking at their core competencies or having a well thought out branding strategy. The growth rate of super market sales has been significant in recent years because greater numbers of higher income Indians prefer to shop at super markets due to higher standards of hygiene and attractive ambience. With growth in income levels, Indians have started spending more on health