Food Reatiling in Punjab

8/8/2019 Food Reatiling in Punjab

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An Empirical Study on Performance of Organized Food Retailing in

Punjab

Authors

Dr. K.C. Mittal

PSMS, Punjabi University PATIALA

Anupama Prashar

Research Scholar

Punjabi Univesrity PATIALA

An Empirical Study on Performance of Organized Food Retailing in Punjab

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Abstract:

Retail is hailed as Indias industry of the future, incited by the countrys huge urban

middle class population. Food and grocery is the second-largest segment of the retail

industry and carries in itself enormous potential, particularly in untapped rural and

semi-rural markets, for new entrants. Growing at the rate of 30%, Indian food retail is

going to be the major driving force for the retail industry. The paper maps the

performance of various retail formats in Food & grocery segment in selected cities of

Punjab on the basis of parameters that are governed by consumer perception and

operational efficiency

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1. Introduction

Food and grocery is the second-largest segment of the retail industry and is the least

organized. According to a recent report by Ernst & Young, food and grocery accounts

for almost 54% (USD 152 billion) of the total Indian annual retail business 1. However,

food retail continues to be dominated by small local stores in the unorganized sector.

Fuelled by the large disposable incomes, the food sector is now witnessing a remarkable

change in consumption patterns, especially in case of food. Food retailing is undergoing a

transformation from selling of food items in grocery shops & mandis, haats and bazzars

to selling of processed food and grocery in supermarkets where consumers inspect and

select the products in a comfortable ambience and still pay a fair price for the product and

the merchandise. Sometimes it happens that one pays less than the price one would pay at

the nearest food store. Shopping for groceries is no longer a strenuous and uncomfortable

affair. Instead, it has become a pleasant experience.

Food retailing is now an industry in itself. According to one of the recent reports on Food

Retailing Scenario in India by Technopak, food & beverages is the major segment, worth

Rs 8,97,000 crore.2 This is contrary to the belief that fashion is the largest segment of

organized retail in India. Indias food retail industry has been the main focus of MNCs

looking to grow with the economy. The industry has been rated as the fifth mostattractive emerging market for retail by the International Council of Shopping Centers

(ICSC). Currently, the food retail sector is valued at US $70 billion and the valuation is

expected to rise to US $150 billion by 20253

1.1 Food Retailing Scenario in India

Broadly, five forces are affecting the organised food retail industry in India. The first

force affecting the organized food retail industry in a big way is small grocery stores that

still tend to dominate the industry. The growing bargaining power of average Indian

1 The Great Indian Retail Story- Ernst & Young2Food Retailing in India(2009)-Technopak adviser3 McKinsey & Co in Food Forum 2009

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buyer due to increased purchasing power is another force. Organised food retailers

purchase directly from producers and wholesalers and pass on major portion of the

savings to the customer. Retailers could possess a great bargaining power with

manufacturers due to recent consolidations in the industry. So, bargaining power of

suppliers is an important consideration. Threat of substitutes and new entrants (foreign

players) are other forces affecting the Indian retail industry. Figure 1 shows the five force

model of organized food retail industry in India.

Figure 1: Five Forces Model Indian Food Retail industry

As a result of these forces, changing food consumption patterns, consumers need for

convenience, choice and value for money the set-up of retail formats is changing. The

Indian consumers do visit about eight to ten outlets to purchase various food products,

which make up the daily consumption basket. These outlets include neighborhood kirana

stores, bakeries, fruit and vegetable outlets, dairy booths and chakkies (small flour mills),

which offer very time-consuming and unproductive way of shopping for food. With

changing lifestyle there is growing scarcity of time, and convenience in food shopping is

emerging as an important driver for the growth of one-stop retail formats that can offer

consumer 'value for time' in addition to 'value for money'.

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Modern state of the food retailing is not a demand led but the supply led one. Major

spending on food and increasing out of home food consumption represent a significant

opportunity for food retailers and food service companies. The organised food retailers

deploy a number of formats ranging from gigantic hypermarkets at one end of the

spectrum to the no-frills discount stores at the other end. They are distinguished by size,

number of items carried, strategic pricing and customer segments targeted among others.

In India about 90% of food purchases are made within a distance of 1.5 km from the

customer's home. This means that an organised retailer would need to have a

'neighbourhood store' close to customers in order to capture the share of wallet that is

spent on food. These stores would cater to the consumer's daily and weekly needs. The

outlets closest to a neighbourhood store in India are 'Safal' outlets operated by Mother

Dairy in Delhi, Margin Free in Kerala and Subhiksha. Another popular format in Food

retailing is supermarkets. This format caters to the consumers' need for choice and

variety. These needs translate into 'more width' and 'more depth' in each category. These

stores cater to the consumers in a catchment area with a radius of 3 to 4 km and therefore

need to be destination stores. A supermarket can cater to the consumers' weekly, monthly

and occasional needs. Examples of supermarkets already in India are Reliance fresh,

Food World, Trinetra and Nilgiri's4.Hypermarket is another popular format.

Hypermarkets are essentially destination stores catering to the consumers' bulk shopping

needs in both food and non-food categories. The key added values for the customer are

'choice' and 'value for money' because products are sold at a discounted price. The

hypermarkets model of food retailing is new to India. Spencers (RPG), Big Bazaar

(Pantaloons), Star India Bazaar are some examples. Cash & Carry (C & C) Storessell

their products to their members only. The typical area of a C & C store is 70,000 to

100,000 sq. ft. and both food and non-food products are stocked. The members are

typically retailers and institutions. The key added value is a wide range of products under

one roof, available at wholesale prices. So far, only four (three foreign and one domestic)

companies operate in this space: Metro (German), Shoprite (South African), and SPAR

(Dutch) are the foreign players while Wal-Mart has recently set up a joint venture with

4 Kearney 2005

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Bharti retail with the first cash and carry store in Amritsar under the brand name of Best

Price .Table 1 summarizes the various companies operating in different retail formats.

FORMAT KEY

COMPANIES

SIZE TARGET

POPULATION

PRICING ITEMS

CARRIED

Hypermarket RPGs Giant,

Pantaloons, Big

bazaar,

Vishal,Amartex

25,000-

50,000

sq ft

Middle income

group

Lower

than MRP

Most

categories

Supermarkets Reliance fresh,

More stores,

Easy day, Food

world, Food

bazaar

3000-

5000 ft

Everyone MRP Processed

foods and

groceries

Discount

stores

Subhiksha,

Margin

free,Apna

Bazaar

Varies

but less

than

3,000

sq ft

Middle income

group

Everyday

lowest

price

Processed

foods and

groceries

Convenience

stores

6-Ten, Spencers Varies Everyone MRP Varies

but

specialized

in each

store

Table1: Organised Retail formats in food segment

Source: Survey

2. Food Retailing Scenario in Punjab

Punjab is a prosperous state with highest level of per-capita SDP (State Domestic

Product) in the country. The state has a sound economic policy that has nourished the

agriculture sector and has actively promoted key investments in other allied sectors like

agro-processing, diary farming and poultry. Punjab is the second largest milk producing

state in India, producing around 10% of the countrys total milk production i.e. 8 million

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tones annually. The state is served by 44 milk plants and 2424 veterinary institutions.

Poultry farming is also adopted on scientific lines in the state. Punjab ranks first in

average per hectare yield of rice, wheat and cotton in the country. Punjab has earned the

rare distribution of being called the food basket of the whole country5. The state

produces 1 percent of rice, 2 percent of wheat and 2 percent of cotton of the world. Thus,

there is a clear opportunity in Punjab in the foods and beverages category, but more

importantly, and strategically, retailers can effectively utilize Punjab as their major

sourcing hub for their nationwide chain of stores in the food and grocery sector. Figure 2

shows a comparison of per capita SDP in the country

Figure 2: Per capita SDP in 2006-2007

Source: www.punjabgovt.nic.in

With the highest per capita income in the country, that is nearly three-and-a-half times

the all-India average, an excellent infrastructure to promote new industries and support

the existing ones, coupled with high percentage of employment, Punjab stands second to

none in fast becoming a favored destination for the retail industry6. This state provides a

grand opportunity to all the retailers at large to exploit its huge consumption potential.

Punjab will possibly be the largest gainer in the process of retail evolution in the country.

5www.punjabgovt.nic.in6Retailing in Punjab 2010 and beyond

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Figure 3 depicts the growth in retail space in Punjab.

Figure 3: Growth in retail space in Punjab

Source: Images & CII study

Unlike other states, growth of consumption in Punjab gets equal support from the urban

as well as rural consumers and this unique feature indicates an immense potential for

organized retail, as the choice for location is not really a constraint here. On an average, a

consumer in rural Punjab spends nearly Rs. 130 per month on services like

telecommunications, banking, insurance, leisure etc. which is higher than the average of

Rs 39 for rural India. Similarly, in rural Punjab, the per person monthly spend on health

care products and services is Rs 57, which is again higher than the spend in both urban

Punjab (Rs 42) and rural India (Rs 34)7.Thus, it is the second-tier cities and semi-urban

and rural towns of Punjab that represent a goldmine of opportunity for the retailers. The

7 Retailing in Punjab 2010 and beyond (2008),

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big cities of Ludhiana, Jalandhar, Chandigarh, Amritsar, Patiala and Mohali also provide

ample opportunity for growth. Figure 4 shows private consumption expenditure in

Punjab.

3. Review of Literature

According to results of survey conducted by Nielsen Shopper Trends

(May 2009), ease of accessing a store tops the list of attributes driving store choice

among organized retail store shoppers. While more than half the shoppers are accustomed

to visit their regular store, almost an equal proportion of shoppers claim to have shopped

at a store because of its proximity. The survey also found that shoppers do not explicitly

state promotions as a factor that influences their store choice. However, when their actual

behavior is considered, then it is observed that attractive and interesting promotions play

a vital role in store selection.

According to an article by Elliott John in Fortune (June, 2007), the future

rapid growth of the retail sector, together with shoppers' preferences in developed

markets around the world for both big and small outlets, should mean that the impact on

the mom-and-pops will be far less than feared.

Sharma, S.R., Tiwari, Prakash & Verma, Hemraj did an Empirical Study

on Customer Perceptions about Vishal Mega Mart and its Impact on Shopping Behavior

in Dehradun City (2008). They proposed that a big parking lot, a centralized Air-

Conditioned (AC) environment covering spacious floors, soothing music, a tempting

visual display of products with self selection facility and a variety of products priced with

occasional heavy discounts are some of the features which affect the choice of selection

of store.

Bech-Larsen, Tino and Esbjerg, Lars, did a Study of Customer

Perceptions of the Fruit and Vegetable Department's Influence on Store Image, Journal of

Food Products Marketing (2007) described the results of two empirical studies (a focus

group and a survey), which explored customer-perceived quality dimensions of the fruit

and vegetable department and the extent to which these dimensions influence customer

attitudes towards the fruit and vegetable department and stores image in general.

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http://money.cnn.com/magazines/fortune/fortune_archive/2007/07/09/100122335/[email protected]://money.cnn.com/magazines/fortune/fortune_archive/2007/07/09/100122335/[email protected]


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According to a report by ETIG Economic Times Intelligence Group,

(2002), concerning food category, the most important attribute looked for while selecting

a store is quality, which is followed by the price.

Chintagunta, Chintagunta, Pradeep K. (1993) in their study Investigating

purchase incidence, brand choice and purchase quantity decisions of households,

proposed that, while specialized and traditional stores are preferred for fresh products,

hypermarkets are preferred for general shopping, and that for frozen food, groceries and

beverages in particular.

Bawa K and Ghosh, A. (1999)proposed that in the case of hypermarkets,

the main factors for developing preferences in decreasing order are low prices, possibility

of buying everything in the same place and general appearance of the store.

Baker, J., Parasuraman, A., Grewal, D. and Voss, G. B. (2002) propose a

comprehensive store choice model that includes , three types of store environment cues

i.e social ,design and ambient. they empirically examine the extent to environmental

cuesinfluences consumers assessment of store.

Dick and Basu (1994), conceptualized consumer loyalty as the relationship

between the relative attitude towards a brand or service or store or vendor and patronage

behavior. Two dimensions, the degree of attitudinal strength (weak or strong) and the

degree of attitudinal differentiation (existent or not) seem to influence an individuals

relative attitude towards a store.

The Indian Consumer - Outlook 2005, KSA Technopak India Pvt. Ltd.,

believes that India, being one of fastest growing economies in the world, is witnessing

some pretty sweeping changes at the home turf. With consumerism in India reaching new

heights, the gap between the Indian consumer in her new avatar and her global

counterpart is gradually diminishing. The 105 million strong Indian urban rich & middle

class, with spending power growing at a double digit rate every year, has evolved from a

'Hindustic self denial' existence to an 'indulgence' mode. The boom in retail sector,

marked by entry of international brands & developing mall culture, is further fueling the

consumer spending. The changing attitude towards credit and the EMI phenomenon has

lowered the age of big-ticket acquisitions such as cars, durables and homes. All these

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brands trends put together have changed the consumption patterns & attitude of the

Indian urban consumer - leading to Changed Paradigms.

4. The Empirical Study

4.1 Objective of study

The major objectives of the study are:

To identify the key parameters which affect the performance of organized food

retailing

To analyze the preferences of consumers from varied demographics in order to

establish standards to ensure benchmarking

To analyze the growth and development trends of organised food retailing formats

in Punjab.

To analyze the future of organised food retailing formats in Punjab

4.2 Research sample

Organised food retailing is booming in not only metros but in tier I and tier II cities as

well. Therefore, five major cities of Punjab viz. Ludhiana, Jalandhar, Patiala, Mohali, and

Amritsar were selected for the present study where different types of retail stores are

rapidly developing.

According to Retailing in Punjab 2010 and beyond (2008) report, there were over 900

different organized retail formats which include malls, hypermarkets, specialty stores,

chain stores etc. in Punjab in 2007.Out of these, over 500 are chains of supermarkets,

convenience and hypermarkets with Food &Grocery as the major retail category. For

sampling of organised food retail outlets, an exhaustive list of total number of organised

retailers in Food & grocery segment is obtained from each of the selected cities by

using secondary sources.

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From the above list, a sample size of 10% of organized food retail outlets was selected

following the stratified random sampling method. The retail outlets were categorized into

three formats on the basis of their area in Sq. Ft. as follows:

Convenience stores 500- 1000 sq ft

Supermarkets 1000-10000 sq ft

Hypermarkets Above 10000 sq ft

50 questionnaires for consumer and 10 questionnaires for organized retailer were

completed from sampled retail outlets from five selected cities of Punjab. A total of 250

questionnaires for consumer and 50 questionnaires for organized retailers were completed

and validated from the five stated cities of Punjab.

4.3 Research Methodology

The review of literature revealed a number of parameters which affect the performance of

Food & grocery retail outlets. Some of the parameters are related to consumer

perception like customer service, variety & value, pricing, displays etc. Other parameters

are related to operational efficiency of store like sales, inventory days, infrastructure etc.

Two questionnaires were designed to study the performance of different retail formats in

the Food & grocery segment on the basis of consumer perception and operational

efficiency related parameters. The first questionnaire consists of seven sections; first

section address to the demographic details of the respondent, for rest of the six sections

respondents were asked to indicate their level of agreement (1 = strongly disagree to 5 =

strongly agree).The second questionnaire rates various retail formats on the basis of

operational efficiency. The questionnaire consists of four sections; first section address

the details of store (location, ownership, area etc.);section two and three focus of sales

and inventory related parameters( inventory days, footfall, conversion rate, sales per sq ft

etc); the fourth section addresses the obstacles to organized food retailing in the state of

Punjab.

The questionnaires were first tested within the academic group of fellow researchers and

faculty for errors and on their valuable suggestions the questionnaires were modified. The

modified questionnaires were tested for internal consistency through a pilot survey

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involving respondents in the proposed sampling frame. The value of cronbach alpha was

found to be 0.889. This exercise was mainly done to test the degree of understanding the

meaning of the questions, the difficulty in understanding the questions by the respondents

if the meaning of the questions are conveyed correctly and to check the relevance of the

questions with respect to the interest of the respondent. After the pilot survey the

questionnaire was further modified.

5. Statistical Analysis

In the present study different types of food retail formats have been studied for their

performance on the basis of consumer perception and operational efficiency related

parameters. The different types of retail formats are Convenience stores, Supermarkets

and Hypermarkets. These stores are classified on the basis of their area in sq. ft. The area

of convenience stores is 500- 1000 sq. ft., supermarkets is 1000- 10000 sq. ft. and

hypermarkets above 10000 sq. ft. These retail stores have been studied for the Food &

grocery segment in five selected cities of Punjab.

5.1 Demographic profile of sample

A total of 250 questionnaires (for consumers) were returned and after eliminating

uncompleted questionnaires, the remaining 210 questionnaires were used as the sample.

The sample survey is biased towards women (72.5%) who are most often responsible for

shopping in their families. It was found that 58.7% of the consumers who visited the

organized store were married whereas rest 41.3% were unmarried It was found that 47.7

percent of shoppers were under 30 years old; 30.3 percent were aged between 30 and 39

years; and 22.0 percent of shoppers were 40 years or older .The sample survey is slightly

biased towards higher income respondents in comparison with the general populationcharacteristics of Punjab. It is expected that those consumers who have good incomes are

willing to go shopping at organized retail outlets. Table 2 represents the demographic

profile of consumer sample.

Table 2: Demographic characteristics of the consumer sample

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Variables Frequency %

Gender Male

Female

151

59

72.5

28.5Age Under 30 yrs

30-39 yrs

Above 40

100

65

45

47.7

30.3

22

Education Lower than secondary school

Secondary School or equivalent

Bachelor degree

Master degree

Doctoral degreeOthers

0

22

93

47

00

0

13.6

57.4

29.0

00

Marital Status Single

Married

123

87

58.7

41.3

Monthly Family

Income

Less than Rs.10,000

Rs.10,000 to Rs.20,000

Rs.20,000 to Rs.30,000Rs.30,000 to Rs.40,000

More than Rs.40,000

0

44

9252

22

0

21

44.425.9

8.6

Out of a total of 50 questionnaires completed for organised retailer store owner,6 were

found to be incomplete . Out of 44 organised store surveyed, 33(75%) of the retail stores

were found to be company owned and only 11(25%) were franchises. As far as the area

of store is concerned, 11(25%) stores fall under the category of convenience stores (500-

1000 sq. ft), 29(69%) stores falls in the category of supermarkets is 1000- 10000 sq. ft

and only 4(6%) stores fall in the category of hypermarkets(above 10000 sq. ft).Table 3

represents the details of sampled stores.

Table 3: Details of sampled organized stores

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Variables Frequency %

Format of store Convenience stores

Supermarkets

Hypermarkets

11

29

4

25

69

6Location Suburb

Main market

In a mall

11

26

7

25

60

15

Ownership Company owned

Franchisee

33

11

75

13.6

Marital Status Single

Married

123

87

58.7

41.3

Monthly Family

Income

Less than Rs.10,000

Rs.10,000 to Rs.20,000

Rs.20,000 to Rs.30,000

Rs.30,000 to Rs.40,000

More than Rs.40,000

0

44

92

52

22

0

21

44.4

25.9

8.6

5.2 Data Analysis

Exploratory Factor Analysis

At the initial stage of analysis, exploratory factor analysis was conducted using the

Principal Component Approach with a varimix rotation. In this study, the result of

Bartletts test of sphericity (0.00) and KMO (0.633) indicate that the data are appropriate

for factor analysis. In the analysis only the factors having latent roots or eigenvalue

greater than 1 were considered significant. Total six factors were extracted during this

stage of exploratory factor analysis. All the six factors together accounted for 68.734

percent of the total variance. These six factors were consumer service, variety & value,

pricing, displays, promotion and store loyalty.

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Table 4 represents the overall rating of selected organized retail formats (convenience

stores, supermarkets, hypermarkets) in Food & grocery segment on the basis of selected

consumer performance perception parameters.

Table 4: Rating of selected organized retail formats

Parameters

Convenience store Supermarket Hypermarket

Mean Standard

Deviation

Mean Standard

Deviation

Mean Standard

Deviation

Consumer

service

3.15 0.56 4.25 0.71 4.65 0.65

Variety &

value

2.69 0.62 3.81 1.08 4.24 0.98

Pricing 3.68 0.57 4.52 0.73 4.25 0.69

Display 2.05 1.09 3.31 0.91 4.35 0.86

Promotion 2.58 1.03 3.54 1.04 3.51 1.05

Store

loyalty2.49 1.08 3.15 1.11 3.19 1.10

Notes: 1 to 5 scale: 1 = strongly agree, 5 = strongly disagree. To compare whether the

means for two different categories, for example convenience stores and supermarkets for

the consumer service (a horizontal comparison) or for the consumer service criteria and

the variety & value criteria for fresh food (a vertical comparison), are the same or

different, the following test statistic

z=(xa xb)/(sa2/na+sb2/nb)

Where na and nb are the sample sizes for the two groups, are the sample means for two

groups, and sa and sb are the standard deviations for the two groups, can be used.

Under the null hypothesis that the two population means are the same, the test statistic is

distributed asymptotically as a standard normal distribution. For a two-tail test

conducted at the 5% significance level, the relevant critical values are 1.96 and 1.96.

For a one-tail test where the first mean assumed to be higher than the second mean, the

relevant critical value is 1.64. This test statistic assumes that the responses for the two

categories are uncorrelated. When we used a one-tailed test for the difference between

the two means (greater than zero), for vertical comparison, if the difference between any

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two sample means is greater than 0.15, then the difference between these two normal

population means is significant at the5% level. The same results hold in the case of

horizontal comparison.

It was found that hypermarkets and supermarkets are rated better than convenience stores

for all the consumer perception parameters. However, consumer rated price levels of

supermarkets better than price levels of hypermarkets.

Table 5 represents the influence of type of retail format on inventory days which have

been divided into quartiles.

Table 5: Influence of type of retail format on inventory days

Inventory Days 17-61 61-128 128-235 235-745 TOTAL

Type of Retail Format

Convenience stores 5 2 3 1 11

Supermarkets 9 5 5 10 29

Hypermarkets 2 0 1 1 4

The calculated value of Chi Square is 22.46848 which is higher than the table values of

Chi Square at 5% level of significance (12.592) for 6 Degrees of freedom, the alternative

hypothesis is accepted at 5% level of significance. It could be concluded that type of

retail format has significant influence on operational efficiency (Inventory Days) of retail

stores. Therefore, the types of retail format & inventory days are dependent on each

other. The value of coefficient of contingency (C) is equal to 0.32. This value indicates

that the association between format of retail outlet and operational efficiency is

moderate and is not very strong. Therefore, retail format may not influence the

operational efficiency of retailers to a great extent.

Table 5 represents the influence of location of retail store on inventory days.

Table 6: Influence on location of store on inventory days

Inventory Days 17-61 61-128 128-235 235-745 TOTAL

Location

Suburb

2 4 4 1 11

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Main market 12 6 2 6 26

In a mall 3 1 2 1 7

As the calculated value of chi-square (14.614) is higher than the table value at 5%

significance level (12.592) but not at 1% significance level (16.812) for 6 degrees of

freedom, the alternative hypothesis is accepted at 5% significance level but not at 1%

significance level. It could be concluded that location of retail outlet has significant

influence (at = 0.05) on the operational efficiency. The value of coefficient of

contingency (C) is equal to 0.261 which is quite low. This indicates that the location &

inventory days have low degree of association.

Conclusion:

As discussed above, six consumer perception factors have been extracted with the help of

exploratory factor analysis. Confirmatory factor analyses successfully validated the items

used to measure the performance. Consumer performance perception parameters

identified were consumer service, variety & value, pricing, displays, promotion and store

loyalty.

From the data analysis it is observed that there is significant influence of format of retail

stores and location on the operational efficiency. However, the degree of association is

not very high. This shows that the operational efficiency of the firm is affected by the

size of the firm i.e., retail stores will have higher efficiency if they utilize their retail store

space rationally.

References:

Kearney, A T (2005):Emerging Market Priorities for Global Retailers, Sector View.

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Bech Larsen, Tino & Esbjerg, Lars(2007). Study of Customer Perceptions of the Fruit

and Vegetable Department's Influence on Store Image.Journal of Food Products

Marketing.

Bawa K and Ghosh, A. (1999). A Model of Household Grocery Shopping Behavior.

Marketing Letters10:2, 149160

Baker, J., Parasuraman, A., Grewal, D. & Voss, G. B. (2002). The influence of multiple

store environment cues on perceived merchandise value and patronage intentions. Journal

of Marketing, 65, 120-141.

Chintagunta, Chintagunta, Pradeep K. (1993). Investigating purchase incidence, brand

choice and purchase quantity decisions of households. Marketing Science, v 12, 184-208,

Spring

Dick & Basu. (1994). Customer loyalty: Toward an integrated conceptual framework.

Customer loyalty.Journal of the Academy of Marketing Science

Elliott, John (2007): Indias Retail Revolution,Fortune,June 27

.

IMAGES & CII Study(2008), Retailing in Punjab 2010 and beyond

IMAGES Retail. http://www.imagesretail.com/india retail report.htm

KSA Technopak, 'Consumption Outlook for 2005'

Nielson Shopper Trends India.. 6May 2009

Sharma, S.R., Tiwari, Prakash & Verma, Hemraj(2008).An Empirical Study on Customer

Perceptions about Vishal Mega Mart and its Impact on Shopping Behavior in Dehradun

City. SSRN eLibrary

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http://www.getcited.org/pub/100036011http://www.imagesretail.com/india%20retail%20report.htmhttp://www.getcited.org/pub/100036011http://www.imagesretail.com/india%20retail%20report.htm


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Food Reatiling in Punjab

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