India Retail Report Synopsis

8/7/2019 India Retail Report Synopsis

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India Retail Report Synopsis

Backgrounder:

The India Retail Report 2007 aptly documented 'Opportunity India Retail';published by the IMAGES Group and released by Mr. Kamal Nath, Hon'bleCommerce & Industry minister, Govt. of India in January 2007, the researchvolume set benchmark figures on Indian retail, while sizing up the entire marketwith its key segments, scope and performance of key players across categoriesand formats.

Under the aegis of India Retail Forum (IRF), for the first time, the entire retailindustry and some of the worlds top global research & consulting firms cametogether for a detailed study of the Indian retail industry. The book, whichbecame a best seller across all titles of books in major book chains, also carrieddetailed analytical articles by 40 thought leaders from the industry and thegovernment.

While the hard copies became must-haves for every CEO connected with Indianretail, the CD version with navigation facility, tables, graphs, pictures ofhundreds of stores and shopping centres emerged as the most user-friendly tool

for top level executives for use in corporate PPTs. Copies of the book wereordered from possibly every corner of the world -- reflecting IMAGES'capability of spreading the India retail story across the globe.

The past eighteen months have seen plenty of action in Indian retail; it is

the right time to update the retail world with the new edition ofIndiaRetail Report. Supported by Confederation of Indian Industry (CII), ShoppingCentres Association of India (SCAI) and Retailers Association of India (RAI),the India Retail Forum saw the release of this most sought after report in the

presence world retail captains, corporate majors and policy makers of India andthe entire retail fraternity. This year, many more organisations includingNational Council for Applied Economic Research (NCAER), Indian Council ofResearch in International Economic Relations (ICRIER), and International FoodPolicy Research Institute (IFPRI) have contributed well researched chapters.

550 hardbound pages of extensively researched content, the new edition,presents the India retail story in all its colours. Quantifying consumer spendingand modern retail share in all consumption categories -- from food to fashion;telecom to automobiles; consumer durables to health & wellness, entertainment& leisure -- India Retail Report 2009 is an ultimate guide to the business of


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retail in India. Chapters pertaining to the investment climate, retail profitabilityand legal issues have been especially put together by industry experts -- toenable potential investors in taking informed decisions.

As per the India Retail Report the Indian retail market stood atRs.1,330,000 crore in 2007 with an annual estimated growth of about 10.8

per cent. Of this, the share of organised retail in 2007 was estimated to be

only 5.9 per cent, which was Rs.78,300 crore. Nevertheless, this modern retailsegment grew at the rate of 42.4 per cent in 2007, and is expected to maintain afaster growth rate over the next three years, especially in view of the fact thatmajor global players and Indian corporate houses are seen entering the fray in abig way. Even at the going rate, organised retail is expected to touchRs.2,30,000 cr (at constant prices) by 2010, constituting roughly 13 per cent ofthe total retail market.

Quotes:

The India Retail Report 2009 is a well researched and professionally

presented document that brings forth several opportunities that could

benefit the Indian consumers. I look forward to the Indian retail sector

continuing on its developmental growth path and spreading its benefit to

all.

Kamal Nath, Indias minister for Commerce & Industry.

"Many countries specially in south east Asia like Malaysia, Indonesia and

Thailand have put in place regulations with a view to balance the conflicts

of interests between modern retail and the traditional retailers and

suppliers to modern retail. We hope to achieve the best interests of the

Indian business through sustained efforts in this direction to make Indian

retail truly competitive with global standards."

Ajay Shankar, secretary, DIPP, Ministry of Commerce & Industry.

"Retailers must play a wider role in society.The traditional retailer was in

many countries, an active part of the social structure of the neighbourhood.

More than just a source of products or services, he was a companion,

friend, advisor, source of news etc. Most modern formats do not permit

such personalised interaction. However, it is important that we recognise

and play our role in maintaining our neighbourhoods, preserving the

environment, assisting in municipal planning and development, and


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playing multiple roles as good citizens. Its not just good social behavior, its

good business too!."

Amitabh Taneja, Chairman, IMAGES Group and chief convenor, IRF.

For retail to be modernized and contribute significantly to the

consumption economy of the country, we have to involve the government

and the society at large as stakeholders in the business. Unlike the IT boom

in the eighties which happened without government intervention, retail

development has to be an integral part of the state and central

governments India strategy.

B S Nagesh, Chairman, Retailers Association of India and MD, Shoppers StopLimited.

The need of the hour is to sensitize all our stakeholders to the

transformation that modern retail can bring in to our country. We need to

develop a collaborative platform among retailers and other stakeholders

that facilitates further growth of the sector. And as retailers, we need to

focus on how to bring about market innovations that spur consumption

and create an inclusive model that brings more consumers into the fold of

modern retail.

Kishore Biyani, Chairman, CII Committee on Retail and Founder & CEO,Future Group.

HP to upgrade Subhikshas IT infrastructure

11 Sep, 2008

HP Financial Services, the asset managementservices and leasing subsidiary of US-based IT

conglomerate HP, has announced that it willpartner Indias largest supermarket chainSubhiksha to develop software to support thelatters financing and asset management services.

Elaborating this development, Irv Rothman,president and chief executive officer, HP

Financial Services, said, India is a critical market for us and building a strong

relationship with leading companies like Subhiksha is key to our growthstrategy in Asia.


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R Subramanian, managing director, Subhiksha, confirmed the news and said,We have been working closely with HP over the last two years and we arehappy with this new development as, from now on, we will be able to invest

more effectively in our business growth.

In this new plan, along with deploying SAP business enterprise software forSubhiksha, HP will provide desktop PCs and other IT equipment on lease toSubhiksha and refresh its older PCs with new technology.

Subhiksha head honcho is IRF08 chair30 Aug, 2008

India Retail Forum (IRF), arguably the countryslargest congregation of retail minds, has a newchairman on board. The Forum, for the year 2008,will see R Subramaniam, the managing director ofSubhiksha, control its reins.

Handing over the charges to Subramaniam, VVaidyanathan, executive director of ICICI Bankand the chairman of IRF 07, said, My last duty

as Chairman of Indian Retail Forum 2007 is to hand over the reins to arepresentative of the industry who will lift the Forum to greater heights. It is myproud privilege to welcome Mr R Subramanian, as the Chairman of IRF'08. MrSubramanian has kindly accepted the mandate of his industry counterparts, andwill chair the 2008 edition of the magnum opus of Indian retail, where the retail

world comes together to understand and explore the world's most lucrative retailmarket.

As per the IRF, the decision was taken in sync with the views and choices of theentire industry. After getting the views of over 250 industry captains, one namestood out. When Mr Subramaniam was nominated by Bijou Kurien, presidentand CEO, Reliance Lifestyle Holdings, and seconded jointly by Sanjiv Goenka,vice chairman, RPG Group and Mr. B S Nagesh, MD, Shopper's Stop, the

opinion of the industry leaders became clear, informs Vaidyanathan.


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Inviting the industry to support him in his new role, Subramaniam stated, Ihope that I shall have the industrys support to make IRF '08 relevant forretailers. Let us all combine efforts to make this the magnum opus of Indianretail as no one else can better execute it than us.

New Partners

Meanwhile, industry bodies including the Confederation of Indian Industry(CII), Retailers Association of India (RAI) and Shopping Centre Association ofIndia (SCAI) have joined hands with the IRF.

Speaking on this partnership, Kishore Biyani, chairman, CII National

Committee Retail and the founder and CEO of Future Group, said, IRFsinvite to CII to partner with the largest congregation of retail minds -- offeringthe forum to discuss the issues with the industry at large was well timed andmuch appreciated. Indeed the meet will provide us a much larger and an idealplatform for a more meaningful dialogue and partnership with the industry tosubsequently chart out a detailed action plan for CII initiatives in retail.

The power and passion of the IMAGES team push all of us to converge at this

great platform to share, learn and evolve. IRF this year has the support of allmajor bodies including Confederation of Indian Industry (CII), RetailersAssociation of India (RAI) and Shopping Centre Association of India (SCAI)and indeed IRF has emerged as the perfect platform for trade bodies andindustry captains to meet, discuss and find a common agenda to work for thegrowth of the industry, says Subramaniam.

IRF is all about sharing, learning and evolving together, and is recognised as aglobal standard. Mr. Subramanian is the ideal chairman to make this hugebusiness, knowledge and networking platform even more relevant for theparticipants. I invite the entire retail fraternity to join me in extending allsupport to Mr Subramanian in making IRF '08 a huge success, Vaidyanathanstated.


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Bachat Mera Adhikar - That is what Subhiksha Has For You! Spartan,

Relentless, Frenzied pace

By Zainab Morbiwala

Hopping across to the nearest super market has ceased to be an inhibition evenfor an average Indian middle-class as the benefits they offer vis--vis a localkirana store are increasing by each passing day. The reasons if we evaluate aresimple. With retail getting more and more organized in our country, a lot manyplayers are recognizing the potential household products have.

No wonder, retail guru Kishore Biyani has hisfoothold not only in the apparel and lifestylesector with Pantaloons, but also occupies amajor mind of recall with regards to themother of all purpose stores' in India with BigBazaar. Apna Bazaar, Sahahari Bhandar etchave been in existence since ages. Modernretail is bringing with it new players who go astep further in offering customers withadditional discounts coupled with excellent

service and many more product offerings. The majority of players are regionalbut here again the magic of retail is gradually driving players to gain a nationalfootprint. The latest to do this is Subhiksha.

Starting its journey in 1997 with a single store in South Chennai, they graduallyexpanded into other areas of Chennai and then the rest of Tamil Nadu. Till latelast year, Subhiksha had nearly 140 odd stores in Tamil Nadu. Talking about thesame, R Subramanium, managing director, Subhiksha Trading Services Ltd.,says, From then on, we put together an aggressive expansion plan and whenothers were still talking about the benefits of retail, we had opened nearly 450odd stores across key markets such as Delhi, Bangalore, Hyderabad, Mumbai,Ahmedabad, Baroda, Vizag and Vijaywada.

Before entering the genre of super market, the people behind Subhiksha had anoption of creating a niche for themselves in the software sector. Explaining whyretail was chosen over IT, Subramanium says, The logic was that in 1997, wethought with most big players in software predating us by at least 10 years ormore, we would be too late to enter the industry we thought we would bequite early in retail and get the same head start of 10 years. The ideology behindstarting Subhiksha was based on two things to show that things could be donedifferently from what the rest of the world does and that we need not copy thewestern market and secondly to ensure that the benefits of organized retail wentbeyond the high end affluent consumer and went to the aam aadmi as well.


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Currently, Subhiksha is expanding its operation in Maharashtra with lighteningspeed and the TV commercials and radio campaign are complimenting thesame. Pinakiranjan Mishra, Partner, Risk and Business Solutions, E&Y says,Subhiksha has plans to set up close to 200 stores in Maharashtra in 2007, out

of which about 100 would be in Mumbai. If media reports are to be believed,they have already set up about 75 stores by the first week of January. This isquite impressive by any standards and if they are able to grow at this pace, theywill have a strong market presence. Apart from low prices, they also offer freehome delivery and if they make this into a successful model, they have adistinct edge over others.

Sharing his views on Subhiksha's entry, Atul Takle, Head CorporateCommunications, Pantaloon Retail (India) Limited, We do not see Subhiksha'sentry affecting us. They are largely in the food area, whereas Big Bazaar is anall purpose store with over 200,000 SKU's. A customer walking into Big Bazaarmeets his expectations of good quality at great prices as well as a variety ofproducts.

Commenting on this, Mishra adds, The models of Big Bazaar and Subhikshaare quite different and so is the value proposition -- apart from the fact that theyboth provide convenience and value. I guess both will exist together in theimmediate future as Indian still do not do bulk purchases, especially of freshfood items. So, while Subhiksha would probably score high on accessibility and

convenience, Big Bazaar would score as a one stop shop with better deals.

Apart from home-delivery, Subhiksha has introduced good discounts for theircustomers.

We offer genuinely-sharp discounts and the lowest prices in town, significantlylower than those offered by Big Bazaar, Apna Bazaar etc. In fact, we offerdiscounts as much as 3-4 times those offered by some of these stores. Also, ourdiscounts are not seasonal and not limited to a few products. We have many

more stores in comparison to others, for instance, we operate in Delhi out ofmore than 110 locations and in Mumbai out of 74 locations. This is beingexpanded further, explains Subramanium.

We prefer going the lease-rental route. Thereasons are simple, we have greater control onthe operations this way and given that we donot have to incur an additional margin to thefranchisee, we manage to keep our costs low.This in turn enables us to offer truly low prices

to our customers, he further adds.


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Operating in four verticals fruits and vegetables, pharmaceuticals, FMCG andtelecom -- the mode of operation at Subhiksha is minus any frills and forobvious reasons as the aim is to offer good discounts. Elaborating on discountretailing, Subramanium says, We feel strongly about bringing true value to

customers through discount retailing. There are lots of retailers who claim tooffer discounts. But the moments you look behind the surface, you will realizethat offering discounts and true value to customers is restricted to promise oflow prices on one particular day or festival days. More over the promise of largediscounts is restricted to at best 10 per cent of the merchandise. Rest of thethings actually sells at very close to MRPs. So the customer is actually misledinto believing that she is getting large discounts whereas she may be actuallygetting at best an average discount of 2-3 per cent. In true discount retailing, thecustomer must be offered deep discounts and genuinely low prices that enable

them to save money.Also, the discounts must not be restricted to specific days or specific items.Subhiksha follows the EDLP (every day low price) approach where we actuallyoffer the lowest prices every single day of the year on everything that is soldfrom our stores.

Talking about the no-frill, no-glamour mode working for Subhiksha,Subramanium says, Customers are extremely smart. They go to the glamorousoptions like hypermarts and malls far away from their houses for entertainment

once in a while. For day to day buying of household provisions, groceries,toiletries, medicines, fruits and vegetables, etc they still prefer to go close totheir houses or order on the phone. With time at so much of a premium, buyingthe same soap, the same detergent or refined oil, is an activity that mostindividuals want to spend less time on. They would rather spend time on morepleasurable activities. Who, in any case, is looking for ambience to buy thesame old toothbrush or toothpaste? Therefore, no-frills stores such as ours thatoffer the same basics do very well.

With over a million sq.ft in space across the country, the minimum size for aSubhiksha store is 1,500-2,000 sq.ft. Scouting for a suitable property is a knownnightmare but for Subhiksha it has been a smooth journey so far. Subramaniansays, So far, we have not had any serious issues. Our stores are located inneighborhoods where finding space is not as much a constraint. We base oursearch on finding the right size (1,500 2,000 sq.ft) properties close to whereour target customer catchments are, those that are available on a long-termlease. To further ease the cost, Subhiksha has opted for lease-rental route.

Talking in length about their expansion plans which happen to be noteworthy,Subramanium shares, In the first phase of our expansion we have invested


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nearly Rs.300 crore and now have over Rs.450 crore. These include over 100stores in Delhi, 40 stores in Bangalore, 30 stores in Hyderabad, 30 stores inAhmedabad, 14 stores each in Vizag and Baroda, 74 stores in Mumbai andmany stores in the rest of Andhra Pradesh, Gujarat, Karnataka, Tamil Nadu etc.

In our second phase of expansion we will be investing an additional Rs.200crore and expand into Punjab, Haryana, Western Uttar Pradesh, Maharashtraand West Bengal among other states. We plan to open an additional 500 storesby the end of 2007, making the Subhiksha chain over a 1,000 store strong.ICICI venture is the financial partner and the banks are UTI Bank, HSBCStandard Chartered, HDFC Bank, Kotak and ICICI Bank.

With campaigns like Bachat mera adhikar', Subhiksha is all set to convert thelocal kirana store customer into a Subhiksha customer and this will be the casefor any new entrants as well, as they will all together give stiff competition toour local grocer. Mishra is of the opinion, Whether we like it or not, localkirana will be affected, probably they will become more customer oriented.Already in Mumbai you see examples of local kiranas doing up their stores andfixing air conditioners. So several will transform and survive and many willprobably shut shop. Those that are successful will drive their business throughbetter knowledge of customers and a more personalized service. For example,they will bundle their home deliveries with products they do not sell at all. Sowhen you order groceries, you can also order food, or medicines, etc that theywill buy and send to your home. May be several such stores in a locality will

collaborate to cut delivery costs and capture customers. My belief is that theywill also differentiate on quality on specific products with some smart sourcing,so consumers might go to specific stores, if they want better rice oratta. Sharing his views, Takle adds, Local kirana stores will continue to be majorplayers. Formats like Big Bazaar are visited once in a week or fortnight,whereas the kirana is still the place to go on a daily basis.

Subhiksha plans 150 consumer durable stores by mid-09

9 Sep, 2008

Refuting the media reports regarding the dilutionof its stake and that of its vendors stopping thesupply of vegetables and FMCG products to

them, R Subramanian, managing director,


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Subhiksha Trading services, said that Subhiksha Retail is all set to make anentry into consumer durables segment soon.

Announcing this plan, Subramanian told reporters, We are planning to enter

the consumer durables segment and will diversify our business. As per plans,we will invest around Rs 600 crore for opening 150 stores by mid-2009.

The consumer durables stores would be located across 65 cities includingmetros and tier I and II cities and will cover a total space of around 20 lakhsquare feet, added Subramanian.

Moreover, according to Subramanian, the company also plans to increase the

number of its supermarket stores to 2,200, up from its current 1,580 mark andwill invest around Rs 400 crore for this project. However, he did not mentionanything about the expected turnover of the chain from this project.

Rs 500 crore IPO from Subhiksha

9 Feb, 2008

In defiance of a market crisis, wherein manymajors are withdrawing their initial public offers,Chennai-based retailer Subhiksha is determined tofloat the Rs 500-crore IPO in the first quarter ofFY 2008-09.

Confirming the news to Indiaretailing, RSubramanian, founder and CEO, Subhiksha, said, We have expansions lined

up and shall definitely go public in the first quarter of this financial year.

Asked if the company will reconsider its plans because of the present marketscene, he said: By the time we float the IPO, we hope the market will be better.We are confident that the retail investor will come forward and, to be sure, weexpect good results.

The company plans to open 2,000 stores by the end of FY09, and will require

around Rs 1,000 crore to invest for the same. While it expects to pull in Rs 500crore through the IPO, the remaining investment would be met by the company,


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say industry sources.

It is being assumed that ICICI Prudential Assessment Management Companyhas also evinced interest in investing in Subhikshas pre-IPO.

Ranjan Kaplish

Subhiksha sells 10 pc stakes at Rs 230 cr

5 Sep, 2008

Wipro Technologies chairman Azim Premji hasinvested around Rs 230 crore through his privateinvestment firm Zest Investment Pvt Ltd toacquire a 10 per cent stake in one of Indiaslargest supermarket, medicine and telecom retailchain - Subhiksha.

Confirming the news, R Subramanian, managingdirector, Subhiksha said, This is in sync with the

companys plan of making Subhiksha a USD 5-billion company and thecountrys largest retailer by 2011.

This 10 per cent stake is part of ICICI Ventures 33 per cent stake in the retailer,which has come down to 23 per cent after the deal.

Subhiksha currently operates around 1, 590 stores across the country and alsoplans to enter the consumer durable segment within the next few months.

The next big thing for corporate retailers

For a retailer, it's all about what's good at the moment, to kickstart the retailgame with. So, what is good at the moment? Mobile phones, it seems. Vishnu

Rageev R rings up a few debutants and visionaries in the steaming Indianmobile market.


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Story begins

Chennai-based discount retail chainSubhiksha, currently the largest retailer in thecountry with 780 stores across nine states,

recently pledged to be the largest nationalretail chain for mobile phones. Last week,pouring more fuel into this mobile retailathon,Pantaloon Retail (I) Ltd signed a joint ventureagreement with Axiom Telecom of the United

Arab Emirates (UAE) to distribute mobile handsets. According to industrysources, many corporate retailers will soon emerge to grab a pie from the Indianmobile market, which is worth over Rs 20,000 crore.

The mobile market, which is currently worth over Rs 20,000 crore, has beenwitnessing a 20 per cent year-on-year growth since 2004. It is expected to take amajor plunge now with the major corporate houses going after the device tobring it on to an organised retail platform, an industry expert toldIndiaretailing.

Mobile mania

Chennai-based Subhiksha made the first-of-its kind retail attempt in New Delhiin July 2006. Today, mobile mania rules this grocery retailer. The chain hasscaled up to 145 exclusive Subhiksha Mobile stores in the capital and otherstates such as Punjab and Gujarat, and cities like Mumbai and Chennai. Thecompany has opened 15 such EBOs in Chennai and plans to raise the number ofstores to 30 by this December, and around 400 across the country by March2008.

When enquired about the viability of mobile phone retailing, a Subhikshaspokesperson informed: This is a new format that our managing director RSubramaniam has evolved under Subhiksha, and it is growing at an

unprecedented rate. As per our data, our chain sold 65,000 mobile phones in themonth of June. This underlines the viability of this device and we will close oureyes to bet on mobile retailing. According to him, the June transaction is thehighest sale through a mobile chain in the country. In six months, Subhikshaexpects to push through a sale of at least two lakh mobiles a month.

Subhiksha stores retail all the major brands of cell phones, spanning a broadprice band and selling for at least 5 per cent cheaper than other stores. Earlier,there had been no organised retail chain in the business. It's a low-margin

business, but we noticed synergy with the rest of our business, which is mostlyin branded goods, informed Subramaniam.


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Visionary's visionQuite often, retail experts are heard saying that nobody foresaw retail asKishore Biyani did. After signing the JV with Axiom Telecom, Kishore Biyanisaid: The current explosion of the telecom retail market that we are seeing, is

breaking new barriers everyday. There is no doubt that mobiles will soon be thesingle-largest electronic products retailed in the country. Future Group, with theknowledge and expertise of Axiom Telecom's systems and process in this area,will be best positioned to retail and service the Indian telecom market.

The 50:50 JV, with an equity base of up to $40 million, will distribute mobilehandsets and accessories, and set up service centres in India. The venture istargeting revenues to the tune of $200 million in the first year of operations, asit taps the world's fastest-growing mobile services market.

The joint venture activities will be carried out by a separate company. The newcompany will focus on developing backend sourcing infrastructure forPantaloon Retail's existing telecom retailing business, to enable it to expand andscale up exponentially. Additionally, it will also create a nationwide network ofstate-of-the-art after-sales service centres for mobile handsets in the country, acompany spokesperson informed.

However, Biyani does not intend to experiment by launching company-ownedprivate labels in mobile category due to the price fall. We cannot do private

labels, but there is an opportunity at the top end for some lifestyle phoneofferings, Biyani said. The Pantaloon-Axiom JV stable may even offeraccessorised or custom-made cell phonesones studded with Swarovskidiamonds, for instance.

Pantaloon already has a Rs 500-crore mobile retail business throughConvergeM, a wholly owned subsidiary of Pantaloon Retail India Ltd. Thecompany has a three-pronged strategy M Bazaar (shop-in-shop at Big Bazaarstores), M Port (independent brand stores), and Gen M (kiosks in malls and

multiplexes catering to impulse buying).

With this joint venture, Pantaloon isleveraging its already established presence inthe retail space. This is a strategic businessdecision for Future Group and reinforces itscommitment to be a serious player in thetelecom wholesale, retail and after-sales


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service market in the country, avers an industry expert. Pantaloon entered themobile-phone retailing business in 2006.

Future Group with its wide presence and Axiom Telecom with its knowledge

and expertise will be best positioned to retail and service the Indian telecommarket. However, the company will have to deal with the short-interest span innew cell phone models and the competition from established chains like Virgin-Essar's Mobile Store and Subhiksha Mobile.

Last year, Essar Telecom Retail entered into an agreement with the UK-basedVirgin Group for brand licensing, technical and consultancy services for itsmobile-phone retail chain. It is learnt that the group has earmarked around Rs1,500 crore for its new multi-branded telecom retail chain initiative over thenext five years. The company plans to set up a chain of 2,500 outlets across 600cities in the next three years. It recently tied up with Planet M to open TheMobile Store, a one-stop mobile solution retail chain, at Planet M outlets.

Winners

Nokia has teamed up with Srishti School of Art, Design and Technology inBangalore to open its first studio in India . According to sources, the partnershipis the first in a series planned to tap into the potential of countries, which areseen as design hotspots and best markets for the brand.

According to a Nokia official, About 66.7 million mobile phones were sold inthe country in 2006, the third largest in the world after the United States andChina in terms of handsets sold. Out of the total, five per cent goes in organisedtrade. We are happy to see many organised retailers entering the marketinvesting millions of dollars. It is learnt that this is another reason for thecompany to set up its design studio, which is mainly focused at studying whatIndian consumers require.

Whatever the stakes for the early entrants and the newcomers, the fight for the

big pie will once again prove that the customer is king.

Coca-Cola Golden Spoon Awards presented at Food Forum India

6 May, 2008


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To acknowledge the vision and the efforts of thefood-and-beverage retailers in India, Coca-ColaIndia in association with Images Group presentedCoca-Cola Golden Spoon Awards 2008 Images

awards for excellence in food retailing, at FoodForum India (FFI), the two-day event beinghosted at the Renaissance in Mumbai.

The first-of-its-kind Coca-Cola Golden SpoonAwards 2008 have in reserve a Golden Spoon Award for the most admirednames in the industry. The awards were presented across the followingcategories:

MOST ADMIRED F&B RETAILER OF THE YEAR: QSR INDIAN ORIGINHALDIRAMSNIRULASYO! CHINA (winner)KAMATS

MOST ADMIRED F&B RETAILER OF THE YEAR: FOREIGN ORIGINDOMINOSMCDONALDS (winner)PIZZA HUTKFCSUBWAY

MOST ADMIRED F&B RETAILER OF THE YEAR: CAFES & JUICE BARSBARISTACAF COFFEE DAY (winner)BASKIN ROBBINSMOCHACOSTA COFFEE

MOST ADMIRED F&B RETAILER OF THE YEAR: DINE-IN INDIANORIGIN

COPPER CHIMNEY


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SARVANA BHAWANMAINLAND CHINA (winner)MOTI MAHALSAGAR RATNA

MOST ADMIRED F&G RETAILER OF THE YEAR: CONVENIENCE/EXPRESS FORMATSSUBHIKSHASPENCERS DAILYRELIANCE FRESH (winner)MORE

IN & OUTHP SPEED MART

MOST ADMIRED F&G RETAILER OF THE YEAR: SUPERMARKETSFOOD BAZAAR (winner)SPENCERS SUPERRELIANCE SUPER

MORE

MOST ADMIRED F&G RETAILER OF THE YEAR: HYPERMARKETSHYPERCITYVISHAL MEGAMARTBIG BAZAAR (winner)SPENCERS HYPERRELIANCE MARTMORE MEGA STORESPAR

MOST ADMIRED F&G RETAILER OF THE YEAR: PRIVATE LABELSPENCERSMORE (winner)FOOD BAZAARSUBHIKSHARELIANCE


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MOST ADMIRED RETAILER OF THE YEAR: DYNAMIC GROWTH INNETWORK EXPANSION ACROSS FOOD, BEVERAGES & GROCERYRELIANCE RETAILSUBHIKSHA

FUTURE GROUP (winner)ADITYA BIRLA RETAILSPENCERS RETAIL

MOST ADMIRED F&G RETAILER OF THE YEAR: REGIONAL PLAYERSPINACH (winner)BIG APPLE

HERITAGE FOODS @NILGIRIS6TENFOODWORLD

MOST ADMIRED F&G RETAILER OF THE YEAR: CONSUMERSCHOICE

SPENCERSVISHAL MEGAMARTBIG BAZAAR (winner)SUBHIKSHARELIANCE FRESH

MOST ADMIRED FOOD PROFESSIONAL OF THE YEAR: FOOD &GROCERYANDREW LEVERMORESADHASHIV NAIKRAGHU PILLAIR SUBRAMANIANSUMANTRA BANERJEEGUNENDER KAPUR (winner)

MOST ADMIRED FOOD PROFESSIONAL OF THE YEAR: F&BSERVICES

PARTHA DATTAGUPTA


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VIKRAM BAKSHI (winner)SANJIV KAPOORSUNIL KAPOORANJAN CHATTERJEE

ASHISH KAPURNIREN CHAUDHARY

MOST ADMIRED F&G RETAIL VISIONARY OF THE YEARKISHORE BIYANI

MOST ADMIRED F&G RETAILER OF THE YEAR: LANDMARKCONCEPT CREATION & EXECUTION

HYPERCITY

The awards are a part of Food Forum India, arguably the countrys largestcongregation of global and Indian food retailers, manufacturers, organisationsand minds in the food-and-beverage businesses. Food Forum India as a conceptwas launched by Subodh Kant Sahai, minister of food processing industries,government of India.

Flagging off the awards ceremony, Sahai said, We are learning from theprivate retail players and trying to bring about an investment-friendly policy foryou. I congratulate all the participants and the organisers for taking the interestand initiative in organising the Food Forum on such a huge scale. I also requestthe food-and-grocery retailers to work on something so that the farmers can be apart of the development of the sector. Growing demand from the retailers willlead the farmers to perform better. The retail sector players are the new leadersof the farming community.

The Coca-Cola Golden Spoon Awards 2008 were decided on the basis of acomprehensive analysis of: Voting from consumers through a pan-India survey in six leading metros andtier I cities Voting from leading industry experts in the field of food-and-beverage andfood-and-grocery retailing Self-nominations by various players which included information on key

variables such as retail presence in terms of number of outlets/geographic


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coverage, operational retail space, turnover, growth in the last one year, newformats introduced, new marketing initiatives, and communication Final jury voting comprising global consulting firms and leading industryobservers and analysts

Experience vs Convenience, as the retail mle goes

By Ranjan Kaplish and Satrajit Sen

Are you still to visit the new shop in the neighbourhood? Well, if yes, youmissed out on those neat shelves, creative displays, aisle spaces, bar-codedproducts, hoards of brands, the greetings extended by the staff, their billingtechnology in all, you missed out on an ultimate experience.

What! You went to buy eggs in that new shop? You burnt extra fuel, wastedtime waiting for them to scan and bill, and paid extra for packed, branded eggs.Held yourself from impulse buying? Is itconvenient?

This is India(ns) talking. Where, once upon atime, anything to everything could, would, andhad to be bought from the nearest kirana shop(mom-and-pop store) the same shopwherefrom our grandfathers went to buy fromperhaps the present owners grandfather. Thatwas a decade or two ago.

This is 2008, and we are talking about a India where almost everyday, at somenook or corner, a unique shop opens to sell this or that retail revolution, asthey call it Although not important enough like the revolutions described inthe history texts, this definitely has made a difference; the good or the bad of itremains subjective. .

The business of buying, selling and buying, with its tremendous growth

potential, has attracted not only the national corporate giants, but also themultinational behemoths. From Ambanis and Biyanis to Tatas and Godrejs, to


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Mittals and Jindals enterprising Indian industrialists are busy opening jazzyshops, and are heard chanting the charming retail mantra, my customer is myking, which most of us must have seen written somewhere at a grocery shopnear home.

Indiaretailing assessed: Miles to go before anybody slips!

Crying, but hopeful Blank, but with ideas Troubled, but confident

Discouraged, but preparing Whatever is being heard or witnessed about

the state of the small retailers in the country, the opposite of that is equally

true.

Since November 2007, team Indiaretailing has been visiting, talking to, andanalysing the so-called probable victims of corporate Indias entry into thebusiness of retail. The reconnaissance was focused on a random selection oflocalities in the south of Delhi.

Scattered grocers, chemists or pharmacists, vegetable vendors, merchants ofapparel, furniture, electronics, or hardware almost all sorts of independentretailers everyone was quizzed to share their views on expected/happeningeffects on their business and their counter-insurgency plans.

Surprise!

The ones who we had assumed are bound tobe pushed into a corner by the recent upsurge,are oiling their guns and have started assessingtheir ammunition. We have our own strengthsand advantages that the Wal-Marts or theCarrefours of the world dont, and that is whatwe will cash in on, said a small grocer,

operating adjacent to the newly opened Subhiksha, in one of Delhis happeningmarketplaces. As of now, the corporate giants have not affected my business,though the future may be another story. We understand the difference that wecan make, and also know what we must learn from the big entrants, he added.

He is not the only one; there are many of his kind and with similar voices.Fortis Healthworld has limited stock. Many customers come to my shoplooking for products that he couldnt get there. I have gained new customers.

Moreover, the person manning their counter is not an educated pharmacist,whereas I am. I know the alternatives for the prescribed medicines. There are


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unlimited advantages that we have, and we dont have to pay heavy rent likethem for our shop, said Rajinder Arora, owner of Ashirwad Chemists.Ashirwad Chemists and Fortis Healthworld, ironically, share the same wall thatpartitions their stores in GK-II market in south Delhi. As luck would have it,

Lifeline, the pharmacy chain, recently closed shop in the same area.

Vinod Dubey, the proprietor of Sanjay Stores, a kirana store very near to theSubhiksha outlet in East of Kailash, south Delhi, says, Our sales are the same.We have our own loyal customers who wont change their preferences. Weunderstand their needs. So, we dont need to worry about anything.

Furniture retailer Jagdish Kalra, selling besides a Featherlite showroom in CRPark, south Delhi, says, Featherlites stock is limited and their store is

comparatively small, whereas we sell all the necessary items. There is noquestion of losing customers. Moreover, we have been here for two decadesnow, and have closely monitored the developments and know the marketsrequirements.

A vegetable vendor selling in GK-II since thelast 30 years has his own reasons to smileabout. Although initially people did buyvegetables from these big shops, they had tocome back, and I was confident that they

would. This vendor commutes around 35kilometres everyday, to be present in thewholesalers mandi at 4 am in the morning, so

that he can get the freshest lot of vegetables and fruits. Do you think the agentshired by these biggies can match my efforts and products? I even sell theseexotic vegetables, be it red or yellow capsicums, dried mushrooms, or broccoli;I know what is in demand and where to buy the best product from. A toughone to compete with, isnt he?

Flip side

Its not just one, two, or three, but hundreds(sample good enough to represent thousands),


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who are echoing similar opinions. Yet, there are several others who look at thesituation with a divergent worldview.

While one set is confident and preparing, there is another that is insecure, and

not able to visualise many opportunities in the near future. Kishan Garg, theproprietor of Garg Stores, a small grocery shop (adjacent to our confidentsubziwala), has seen a fall of over 20 per cent in his business after Subhikshaand Sabka Bazaar opened in the vicinity.

There are obviously a limited number of customers for any market, and wehave lost 15 to 20 per cent of our regular customers due to the new openings.This is a big loss for us. The statement was echoed by the proprietor ofVardhaman Stores, another kirana store in the same area.

Surinder Lal, a vegetable vendor near a Safal outlet in Sriniwaspuri, complains,People prefer to go to them as their looks and presentation are good. We sell itin the open, and that is what perhaps makes the difference. After all, we alsohave the same varieties as they have.

They (the organised chains) have money to spend on mounting their looks. Wecant even think of this, as we literally struggle to make the ends meet, saysAhuja, the owner of Parkash Stores in Nizamuddin. Sarwan Narang, the ownerof Narang Stores, a small grocery shop at Sant Nagar, also voiced the same

sentiment.However, none of these affected ones had a good-enough reason to answersome queries they must necessarily direct at themselves. For example, why isthat those who come to your shop, actually come? Why not all of our customersgo to the new superstore? And, what makes me different from them even whileselling the same products?

Counter-insurgency

As a prominent telecom operators tagline goes, An idea can change yourlife

The new improved looks of our store have helped us gain more customers. Wehave also introduced some additional features such as baskets for the shoppers.Our motive is to facilitate our customers as much as is possible and, thus, growour relations with them, says S Ahuja of Ahuja Daily Corner, a small food-and-grocery shop at Sriniwaspuri.

We have widened our window space so that we can showcase each variety of

our products, said Rakesh Luthra, the proprietor of Lokesh ki Dukaan, also atSriniwaspuri.


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Super Priority Corner at Khan Market has appointed a gatekeeper who, as is thecustom at other biggies, greets and opens the stores doors for everyone.

Kishan Lall and Sons, a grocery and FMCG store at East of Kailash, is planningto open a chain of stores in the market in the Kailash Hills residential area. Thisendeavour, according to the owner, is to facilitate their customers residing inthat particular area. We have a number of customers coming in from that area.With the opening of the new store, they will get their necessities moreconveniently and wont have to come down to East of Kailash, reasons Prasan,the proprietor.

Apart from grocery, we will soon bring in vegetables and fruits for ourcustomers, said MK Khurana, the owner of Fancy Stores in East of Kailash.

The government has no plans for supporting us and, hence, we have to utilisewhatever resources we have to improve our outlook and reach, says Gyanesh,the owner of a small food and grocery store in Lajpat Nagar.

So many of them, doing so many things with so many ideas, all to retain theirpresent faithfuls and attract more they are all of them going to play out theirroles in determining the future of retailing in India.

Kings speak: Comfort, value, experience, convenienceAccording to Technopak's Consumer Trends '06-07, 93 per cent of householdsacross India prefer the local kirana store for staple food and vegetables.Technopak's Consumer Trends '06-07 further reads that 66 per cent of thecustomers want to travel a distance of less than 200 metres to 1 kilometre fortheir shopping needs.

The added displays at our local kirana store help us to remember the things weneed to buy. Mostly, I dont have to come down with a prepared list now, says

Shalini Ahuja, a doctor.The media in our country is always on the run to create hypes. I dont think thenew big shops can offer what our own kiranawala provides, said SohiniMishra, a housewife. I am quite satisfied with my shop and do not really lookforward to change it. We have been buying from this store for years now. I cantjust break the relationship, she added with a somewhat sentimental undertone.

I always get discounts and credits at a mom-and-pop store. Any day, even if Iam out of cash, they give me the things I need. This is not possible in a mall or

at a branded retail outlet, says Zaheer Ali, a call centre employee.


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Who wants to spend money on travelling when you can get the same thingacross the street, exclaims Lalita Nikumbh, a housewife who stays in LajpatNagar.

Manish Luthra, an engineer, says, The home delivery system of a localkiranawala helps me to place the order on my way to office, and they deliver itto my home. Its so easy.

Dinesh Singh, a graphic designer residing in Lajpat Nagar, is grateful that onedoesnt even need to visit the store to buy necessities. I just call up the localkirana store and order the product. They come and deliver it at my home.

The ones doing the talking here are apparently not switching loyalties all toosoon.

Experts speak

According to India Retail Report 2007,organised retail presently comprises 4.7 percent of the overall retail market, and wasexpected to grow by 34.8 per cent by 2006-07.

Even as more and more players enter the

organised business, it is perhaps a good timeto pose this question: Can mom-and-pop stores or other old, independentretailers, should they organise themselves, be counted as part of the expectedorganised retail figure? The subject sounds strange, being unheard or lesstalked-about.

Will researchers or those analysing the organised retail scene validate the oneswho will organise themselves in the coming years? If an ancient marketplacestarts providing services and experiences better than a branded multi-brand

outlet, will its participants be considered among the organised retailers?While these queries will be answered in due course, some experts from varioussects of retail, share ideas that can strengthen the model of small independentretailers.

Arvind Singhal, chairman, Technopak Advisors

My advice to the independent retailers (Iwould not call them unorganised or traditional

anymore, since many of them are modernisingand trying to reinvent themselves) is:


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1. Be confident about their relevance (specialisation) and strengths (proximityto the customers, knowledge of customers) in Indias context, independentretailers are going to stay for many decades to come, and will play a veryimportant role in the overall retail ecosystem

2. Renovate their outlets to make them look fresher, cleaner, brighter, and, ingeneral, more contemporary and less cluttered from inside, and appealing fromoutside (this can be done on low budget, too)

3. Wherever possible, invest in making customer-friendly shelving and displaysso that customers can walk around, touch and feel the product, and whereverdesired, can self-serve

4. Invest in basic electronic point-of-sale system, which can generate

elementary retail business performance reports for them (to facilitate categorymanagement, brand/SKU management, etc.)

5. Further, strengthen customer contact/relationship by trying to learn andremember customer names and preferences (a computer-based system will helpa lot), and stay in communication with them, whether they are in the store orat their homes

Jayant Kochar, managing director, Go Fish Retail Solutions

1) Choose your playing field: You cannot compete against large-scale retailerson their terms, or against their strengths. At the same time, they can't competewith you on yours. Understand what it is that your customers want from you.This is not easy, because very often, the reasons they give for shopping at aparticular store may be different from the actual reasons. But once you figureout what they really want, you will find it relatively easy to give it to them.

So, forget about asking for level-playing fields find the one that suits you.Choosing the right playing field usually involves competing in an area where

you have a unique competitive advantage and it must be one that is relevant toyour customers. Contrary to popular belief, in the case of small local retailers, itis not necessarily price.

2) Focus on the top-line: Most small retailers tend to focus too much on thebottom-line, and are obsessed with controlling costs. When I say they shouldfocus on the top-line, it is not to say that it is not important to improveefficiencies and control costs. However, the fact is that their costs are probablygoing to remain within acceptable limits just by virtue of their close personal

involvement and control. What they need to think about is out-of-the-box ways


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to increase sales, by grabbing every viable opportunity to satisfy the latentneeds and wants of their customers.

One of our clients is a small pharmacy chain. Their strategy was to improve

viability by cutting costs. We found that their costs were 7 per cent below otherpharmacy chains but their sales per square foot were 23 per cent lower! Withsome selective loosening of the purse strings, their sales are already up tocompetitive levels.

3) Surprise them: The aim is obviously to delight your customers so that theywant to come back again and again. We have found that when retailers think ofhow to delight their customers, they usually end up going in for expensivepromotions and gimmicks, which may be counter-productive; or they go in forthe same things that all the stores around them are doing. Think, instead, ofwhat you can do that will pleasantly surprise them this is the best way tocreate real delight that will lead to more frequent visits and higher sales.

Jayant Kochar is managing director of Go Fish - India's leading retailconsultancy, and he can be reached at [email protected]

Dharmendra Kumar, director, FDI Watch in Retail.

1. Form cooperatives: The small and

independent retailers can easily outnumber thecountable companies in the business. Theyshould club together and form cooperatives;together they can become one company,through which they can form a model that cancompete.

2. Stay united: Scattered we fall; so we must stay united and plan together tofight competition.

IRIS idea: Challenge the fear

Images Retail Intelligence Service (IRIS) conducted an exhaustive research tounderstand the impact of modern retailing on traditional retailers andconsumers. A primary conclusion of the research was that challenging the fearis the need of the hour. The key highlights of the research include:

1. There is clearly a mixed feeling amongst traditional outlets in this new

environment of development of modern outlets. Interestingly, the apprehension


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levels are high in Kolkata and very low in Bengaluru, with Mumbai and NCRsomewhere in-between.

2. Also, the apprehensions are more amongst the smaller outlets and in outlets

in residential areas; signifying that the larger traditional outlets in commercialareas have adapted a lot more to the advent of modern retail.

The possible directions the study leaves one with are:

1.Like our father of the nation Mahatma Gandhi said, customer is the mostimportant If we are to keep the interests of customers paramount, then thetask is to help the small traditional retailers on various retail mix aspects suchas supply chain, store design, marketing and merchandise assortments.

2. There is possibly a need for modern retailers to use and look at promotionsmuch more strategically, which would go a long way in easing whateverapprehensions exist

3. The growth in consumption is encouraging for both modern and traditionalretailers, and, thus, we need to be poised with better-planned merchandiseassortments.

Budget 2008: Retailers left asking

1 Mar, 2008

Our demands have not been addressed, as theyshould have been, chorused the retail fraternityof India while sharing their take on Budget 2008with Indiaretailing.

Future Group:Kishore Biyani, CEO, Future Group, says that iffarmers and income tax payers are considered to

be the two major interest groups in the country, this budget couldnt have beenany better. The government has waived off more than Rs 60,000 crore in ruralloans and, in addition, announced enhanced spending for the rural economy. Inaddition, there is a decrease in CENVAT, central sales tax and excise duty on

certain products. Biyani said, "As a retailer, we can hope to capture some part ofthe additional consumption that will generate from these measures.


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"Our country is going through an unprecedented phase of growth and this wasthe time to make long-term decisions on how to sustain this rate of growth. Butsurprisingly enough, this budget does little about envisioning long-term growth

plan for the economy and for various industries. While immediate benefits areclearly visible in the budget, one finds it hard to find long-term measures fornew-economy businesses that are gaining momentum."

Shoppers Stop:Govind Shrikhande, chief executive, Shoppers Stop, said, Issues like servicetax on rentals and industry status have not been touched, but the financeminister has done well to address issues including CST and excise duty on

certain items which, in the long run, will benefit the retailers. In all, it is aneutral budget."

Aditya Birla Group:Vikram Rao, business head, textiles and apparel, Aditya Birla Group, said,"Although the budget has received a positive response in a few sectors, on thetextile export front, the budget is a little disappointing. The budget will dampenthe exporters bottom-line as the finance minister did not announce anything to

check the adverse impact of rupee appreciation.

On the domestic front, the reduction in service tax on rentals in retail wouldhave been a welcome move," he added.

M&B Footwear:Inder Dev Singh Musafir, director, M&B Footwear, also expressed hisdiscomfort on the Budget, saying, The finance minister has once again lost anopportunity to boost an industry that provides employment to the weakersection of the Indian population the aam aadmi.

By rationalising taxation on footwear, he could have helped in converting 80per cent of the unorganised footwear industry into a tax-paying community,and, in turn, given a boost to tax collection."

Subhiksha:R Subramanian, managing director, Subhiksha Trading Services, termed the

Budget as the governments election propaganda:


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Rs 60,000 crore debt waiver for farmers and tax relief for almost allindividuals no increase in duties and taxes cheaper small cars and scootersand cornflakes no increase in petrol prices what more could one expect as

handouts

No shocks from new fringe benefit tax (FBT) charges

Disappointment would be that there is no acceleration in timetable on CSTreduction. Neither is there any speeding up of the goods and services tax regime

The concerns are that there is no stimulus to investment, and besides the

increase in capital gains tax, a one per cent add-on duty has been imposed onmobile phones

Concerns about keeping Indias growth intact in a globally tough economyhave not been addressed

Overall, a budget that does not rock the boat we expect it to be positive forretail, given more money in consumers' hands and, therefore, more spending

Vishal Retail:Surinder Aggarwal, managing director, Vishal Retail, said, We are somewhathappy, but the minister could have thought about minimising the service tax onrentals. This perhaps is the only major issue he has lost. Otherwise, we shouldcongratulate him for coming up with a consumer-friendly budget.

Big Apple:It is quite a good budget, but the finance minister should have addressed theservice tax issue. Otherwise, it is more or less satisfactory to note that he hastouched the issues of FMCG and other consumer goods, said, MunishHemrajani, managing director, Big Apple.

Ebony:Lalit Kumar, chief executive officer, Ebony, said, It has been a good budgetfrom the consumers point of view, but as an industry person, I am not happy.Our major demands have not been addressed."


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Nirulas:Samir Kuckreja, chief executive officer and managing director, Nirulas ,pointed out:

We are happy with the reduction in CENVAT from 16 per cent to 14 per cent,though we were hoping this would be removed for confectionary items Reduction in excise on packaging will lead to a direct benefit Focus on the cold chain and cheaper refrigeration components will helpdevelop this critical infrastructure for our industry The reduction in CST is welcome, but we were hoping that it would beremoved The tax holiday to hotels in heritage sites will help develop tourism in these

areas Overall, it is a balanced and growth-oriented budget with benefits for differentsections of society

GHCL:Nikhil Sen, head, strategy and international business, GHCL, said: "We arehappy as the prevailing difficulties due to rupee appreciation have beenaddressed. The finance minister seems to have understood the importance of

creating price stability. We are also happy to know that the government isconcerned and will help in infrastructure development in the country.

"However, the ministry has missed out on several major issues that haveannoyed the retail fraternity," he added

Ranjan Kaplish and Satrajit Sen

Future eyes Rs 12,000 cr from private labels

16 Sep, 2008

Kishore Biyani-led Future Group is eyeing aroundRs 12,000 crore from the private labels by 2012.


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Speaking to media on the occasion of India Retail Forum 2008 in Mumbai,Biyani expressed his hopes saying that brands are created by the image what wecall as brand image and if the demand and the need of the consumers are takencare of, then any brand can become the favourite brand to the consumers. That

is why Future Group is currently engaged into researching and innovatingprivate brands for its customers.

He also said, Future Group is eyeing for a 50 per cent stand-alone stores in nearfuture. According to Biyani, as long as Indian retail market is concerned, oneshould look into the expansion in terms of the number of stores to reach moreand more people and not to the formats. So, Future Group would be looking intoopening more and more stores in near future in any format.

According to him, presently the retailers are too much into researching aboutthe formats of the stores avoiding the needs and demands of the people. It isalso the rural retailing in every format that the group has in its radar startingfrom opening grocery stores to providing insurance to the farmers to reach moreand more people. The group is eying for as many as 170 to180 Aadhar storesin the next 12 to14 months as part of its expansion plan. But the group is not atall eying to the Cash-and-Carry formats as of now. Future eyes to giving moreand more to the consumers according to their demand and needs.

He further informed that the Group has done extended market research on

understanding the Indian markets and consumers for the past one year with theMckensey Group and now planning to come up in a re-invented way. The groupis also eyeing for a strict restriction in making expenditure, which results intosaving around Rs165 crore in the last year by the group. This saving has alsobeen included in the groups future planning.

Kishore Biyani, however, negated the news that Future Group is eyeing to buystake in Subhiksha.

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