Retailing in India _trends

8/11/2019 Retailing in India _trends

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RETAILING IN INDIA

RETAILING

IN INDIA

Prof.G.PurandaranM.Tech (I.I.T-Madras)

PGDM (I.I.M-Bangalore)


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Retailing

According to Philip Kotler retailing includes allthe activities involved in selling goods or

Services directly to final consumers for personal ,

Non business use.

Every sale of Goods and Services to final

consumer Food products, apparel, movie

tickets; services from hair cutting to e-ticketing.


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A retailer or retail store is any business enterprise

whose sale volume comes primarily fromretailing.

A retailer may be defined, as a dealer or traderwho sells goods in small quantities.

Any Organization Selling to final consumer

is retailing , whether they are

A Manufacturer

A Wholesaler

A Retailer


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It does not matter how they sell or serve ( By)

Person Mail

Telephone

Vending Machine or Internet

Or

Where these are sold A store

A street

Consumers House


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Retailing may be understood as the final step

in the distribution of merchandise, forconsumption by the end consumers.

Retailers attempt to satisfy consumer needs byhaving the right merchandise, at the right

price, at the right place, when the consumerwants it.

Retailers are the final business in a distributionchannel that links manufacturers to consumers

Indian retail industry is the second largestemployer in the country with almost 12millionretail stores in India.


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Characteristics of retailing

It offers direct interaction

Sale volume is comparatively large in quantities

Customer service

Sales promotions are offered at this point only

Different forms

Location and layout are critical factors

More employment opportunities


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Retailers Types

Department stores

Specialty stores

Convenience store

Discount store

Off-price retailer

Super store


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Functions of Retailing

Sorting

Breaking Bulk

Holding stock

Communications

Assist small suppliers

Customer service


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INDIAN RETAIL-BRIEFOVERVIEW The Indian retail sector is highly

fragmented with more than 90 per centof its business being carried out bytraditional family run small stores.

This provides immense opportunity forlarge scale retailers to set-up theiroperationsa slew of organized retailformats like departmental stores,

hypermarkets, supermarkets andspecialty stores are swiftly replacing thetraditional formats dramatically alteringthe retailing landscape in India.


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India is the third-most attractive retailmarket for global retailers among the 30largest emerging markets, according to

US consulting group AT Kearneys reportpublished in June 2010


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RETAIL-MARKET SIZE

The total retail sales in India will growfrom US$ 395.96 billion in 2011 toUS$ 785.12 billion by 2015

Indian retail sector accounts for 22 percent of the country's gross domesticproduct (GDP) and contributes to 8

per cent of the total employment.


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Weekly MarketsVillage Fairs

Melas

Convenience StoresMom and Pop/Kiranas

PDS OutletsKhadi Stores

Cooperatives

Exclusive Brand OutletsHyper/Super MarketsDepartment Stores

Shopping Malls

Traditional/PervasiveReach

GovernmentSupported

Historic/RuralReach

Modern Formats/International

Evolution of Indian retail

Source ofEntertainment

NeighborhoodStores/Convenience

Availability/ LowCosts /

Distribution

ShoppingExperience/Efficiency


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REASONS FOR THE GROWTH

Robust economic growth High disposable income with the end-consumer Rapid construction of organized retail

infrastructure are key factors behind the forecastgrowth.

Expansion in middle and upper class consumerbase

Growth potential in Indias tier-II and tier-III citiesas well.

The greater availability of personal credit and agrowing vehicle population providing improvedmobility also contribute to a trend towards annualretail sales growth of 12.2 per cent.


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Indian RetailBuoyed by highGDP growth

8.90%9.0%

6.8%6.0%

6.0%5.6%

5.2%

6.4%

6.6%

5.4%

9.2%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Projections of 8% sustainable real GDP growth rate till 2020promise high growth potential for Indian Retail

RealGrowthRate

Source :Central Statistical Organization (CS0)


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India Experiencing RapidEconomic Growth

2,630

916 979 1,068

2,374

4,367

13,245

10.7%

9.4%

6.7%

3.7%

2.0%2.8%

2.3%

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

China India Russia Brazil UK Japan US

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

9.4% growth rate makes India the second fastest growingeconomy in the world

GDP

(US

$bn)

RealGrowt

hRate


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Led by Growth in Services Sector

13% 14%

55%

21%

7%6%

21%

37% 41%

107%

0%

20%

40%

60%

80%

100%

120%

Tourist Arrivals Passenger Cars

Sales

Commercial

Vehicle Sales

Domestic Air

Passengers

New Cell Phone

Connections

2005-06

2006-07

% Increase in growth over the previous year

Services sector adding to GDP in a significant manner


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Driven from Consumption Throughout the 1.1 BillionPopulation

5-7 million

Super Rich

7080 million

Afford Cars, Private Healthcare &

Foreign travel

250 - 300 million

Afford goods like Refrigerators , Scooters& Colour TVs

600-700 million (Generally Rural)

Afford simple industrial productse.g. bicycles , radios , textiles

Poverty Line = income less than $ 1/day

Source: McKinsey,

60 % of Indias population are under 24 years
http://images.google.com/imgres?imgurl=http://upload.wikimedia.org/wikipedia/en/thumb/2/23/Indian_Couple_on_Bicycle.jpg/180px-Indian_Couple_on_Bicycle.jpg&imgrefurl=http://en.wikipedia.org/wiki/Bicycle&h=250&w=180&sz=15&hl=en&start=1&tbnid=Vj2HXGk35I5f2M:&tbnh=111&tbnw=80&prev=/images?q=lower+class+indians&ndsp=20&svnum=10&hl=en&lr=&sa=N


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With High Private ConsumptionGDP

US$ 935 billion

Private Consumption

US$

580 Billion(62%)

Public Spending and CapitalFormation

US$ 355Billion (38%)

RetailUS$ 342 Billion

(59%)

Non RetailUS$ 238 Billion

(41%)

Urban (5,100 towns)

US$ 154 Billion(45%)

Rural (6,27,000 villages)US$ 188 Billion

(55%)

Modern retailUS$ 12 billion8% of urban retail spends

Modern retailNegligible

Food

Apparel

Beverages

Footwear

Consumer

durables

Appliances

Stationery

Kitchen utensils

Furniture

Furnishings

Sports goods

Health & Beauty

Personal Care

Jewellery

Timing

Transport

Communication

Recreation

CulturalServices

Education

Rent

UtilitiesOther Services

Source: Central Statistical Organization (CS0) and Technopak AnalysisConversion rate: 1 US$ = 40.86 Rs.


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About US $530 Billion Retail Market by 2012

GDP*US$ 1,450 billion

Private ConsumptionUS$ 870 Billion

(60%)

Public Spending and CapitalFormation

US$ 580 Billion (40%)

RetailUS$ 530 Billion(61%)

Non RetailUS$ 340 Billion(39%)

UrbanUS$ 252 Billion

(47.5%)

RuralUS$ 278 Billion

(52.5%)

Modern retailUS$ 78 billion31% of urban retail spends

Modern retailUS$ 9 billion3% of rural retail spends

Source: Technopak Analysis*All figures are in nominal terms after taking into account inflation


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12 October 2014

Which Makes Indian Retail an Attractive Market

India tops the Global Retail Development Index


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ORGANISED v/sUNORGANISED The Indian retail market, over the last

decade, has been increasingly leaningtowards organized retailing formats.

The pattern in domestic retailing is altering in

the favor of organized modern retailing, a bigchange from the traditional plethora ofunorganized family-owned businesses.

Rapid urbanization, changes in shopping

pattern, demographic dividend and pro-activemeasures by the Government are abettingthe growth of the retail sector in India.


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Organised retail in India is expected to increase from 5per cent of the total market in 2008 to 14 - 18 per centof the total retail market and reach US$ 450 billion by

2015

According to a report titled 'India Organised RetailMarket 2010', published by Knight Frank India, during2010-12 around 55 million square feet (sq ft) of retailspace will be ready in Mumbai, national capital region(NCR), Bengaluru, Kolkata, Chennai, Hyderabad andPune. Besides, between 2010 and 2012, theorganised retail real estate stock will grow from theexisting 41 million sq ft to 95 million sq ft.

Driven by the growth of organised retail coupled withchanging consumer habits, food retail sector in India isset to be more than double to US$ 150 billion by 2025.


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Organized Retailing in India (2006)

Organized retail INR 28,000 crore

Clothing, Textiles &Fashionaccessories

39%

Footwear 9%

Jewellery & Watches 7%

Mobile handsets & accessories 3%

Health & Beauty (including services) 2%

Food & Grocery 18%

Durables 13%

Books, Music & Gifts 3%

Home 3%


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12 October 2014

Modern RetailOrganized Channels

The share of organized retail is less than 3% of the total retail market

The size of modern retail is about US$ 8 Billion and has grown by 35% CAGR in lastfive years

85% 81%

55%40% 36%

30% 20% 20% 3%

0%

20%

40%

60%

80%

100%

US Taiwan Malaysia Thailand Brazil Indonesia Poland China India

Traditional Channel Modern Channel


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12 October 2014

.. but Rapid Transformation is Anticipated

Current Size & Future Projections for Indian Retail Market

342 373 408

445 486

530

800

12 18 26 39 59 87

200

0

100

200

300

400

500

600

700

800

900

2007 2008 2009 2010 2011 2012 2017

US$

Billion

Total Retail Organized Retail

And may reach a share of 25% by 2017


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12 October 2014

RECENT TRENDS


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12 October 2014


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12 October 2014

Recent Trends

Experimentation with formats: Retailing inIndia is still evolving and the sector is witnessinga series of experiments across the country withnew formats being tested out. Ex. Quasi-mall,sub-urban discount stores, Cash and carry etc.

Store design : Biggest challenge for organizedretailing to create a customer-pull environment

that increases the amount of impulse shopping.Research shows that the chances of sensesdictating sales are upto 10-15%. Retail chainslike MusicWorld, Baristas, Piramyd and Globusare laying major emphasis & investing heavily instore design.

Emergence of discount stores: They areexpected to spearhead the organized retailingrevolution. Stores trying to emulate the model ofWal-Mart. Ex. Big Bazaar, Bombay Bazaar,RPGs.

Unorganized retailing is getting organized: Tomeet the challenges of organized retailing suchas large Cineplex's, and malls, which are backedby the corporate house such as 'Ansals' and'PVR the unorganized sector is gettingorganized. 25 stores in Delhi under the banner ofProvision mart are joining hands to combinemonthly buying. Bombay Bazaar and Efoodmartformed which are aggregations of Kiranas.

Recent changes:

Unorganized: Vast majority of the twelve million

stores are small "father and son" outlets

Fragmented:Mostly small individually owned

businesses, average size of outlet equals 50 s.q.

ft. Though India has the highest number of retailoutlets per capita in the world, the retail space

per capita at 2 s.q. ft per person is amongst the

lowest.

Rural bias:Nearly two thirds of the stores are

located in rural areas. Rural retail industry has

typically two forms: "Haats" and Melas". Haats

are the weekly markets : serve groups of 10-50villages and sell day-to-day necessities. Melas

are larger in size and more sophisticated in terms

of the goods sold (like TVs)

Traditionally three factors have plaguedthe retail industry:


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12 October 2014

Retail Market not limited to metros but widely across India

The classic skimming strategy in the

metros is not longer sufficient 100 cities strategy

Over 250 large size shopping mallsare currently under construction

Leading cities 2030 areforecasted to be

Mumbai

New Delhi

Chandigarh

New Delhi

Bangalore

Mumbai

Chennai

Kolkata

Ahamabad

HyderabadPune

Above 10 Mn inhabitants




Kanpur

Lucknow

Jaipur

Nagpur

Coimbatore

Bhopal

Madurai

Kochin

Varanasi

Visakhapatnam

Patna

Indore

Surat

Vadodara

Ludhiana


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AADHAR Future Group and Godrej Agrovet's joint

venture (JV) in rural retailing, 'Aadhar', is allset for a revamp. The alliance operates

stores in Gujarat, Maharashtra, Haryana andPunjab and mainly sells wheat and paddyapart from daily need products. The companyalso provides farmers with solutions to

problems regarding their agricultural output,which includes what kind of crop can theyplant and when, along with techno-commercial suggestions to help them give abetter output.

RURAL RETAILING


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Champion Agro Ltd

Rajkot based Champion Agro Ltd isplanning to come up with single windowshopping facility for farmers.

The company already has 35 agri-

retailing outlets in the Saurashtra region,and is expected to open around 400outlets at a taluka level across Gujaratby 2016.

It will open 50 new outlets by the end of2011with an investment of US$ 3.3million. The overall investment planned isbetween US$ 66.7US$ 88.94 million.


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ACIL Cotton Industries

Vadodara based ACIL CottonIndustries is all set to come up witharound 40 outlets of 'ACIL Krishi

Store' in Gujarat. Of these, four outletsgot operational in April - May 2011. Asfor 2011, ACIL has decided to focus on

the Gujarat market. ACIL stores willsell all types of seeds, fungicides,fertilisers, micronutrients.


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OTHER VENTURES

Marico is using mobile technologyinnovatively to arm its fieldrepresentatives in their procurement

process. The IT team at Maricodeveloped a mobile-based applicationfor Nokia 5235 series handsets. The

company gave these GPS-enabledphones to 120 of its fieldrepresentatives, with mapped routes.


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Hindustan Unilever Ltd (HUL) isexperimenting with tablet PCs in its attempt

to increase its rural reach. It has been able toreach to 500,000 outlets in a years time.

According to Nitin Paranjape, managingdirector, HUL, We put all the villages on an

IT map. The name of the village, its totalstrength, nearest distributors available,whether it has a school, a hospital, a primary

health centre, all of this was mapped. Weused this information to determine theopportunity the village presented to us.


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Global Heavyweights in Indian RetailingJoint Ventures Product Range Retail Formats

Bharti-Walmart (with $2.5

Billion investment byBharti)

Food & grocery, electronics & appliances, clothing &

footwear, furniture & furnishing, household articles.

Hypermarkets, Supermarkets and

Convenience

Carrefour-Landmark Food and groceries, FMCG, apparel and electronics Hypermarkets

Home Retail Group plc -Shopper's Stop Ltd andHypercity Retail India

Private Ltd

Franchising the Argos concept under the terms of thearrangement, Argos will be providing its brand,catalogue and multi-channel expertise and IT support

Multi Channel propositions

Tata-Woolworths Sourcing agreement for Consumer durables andFoods under brand name CROMA

Multi brand retail chain

Staples IncPantaloonRetail

Global Sourcing of Office equipments across variousbusinesses

Cash and carry

Reliance Food & grocery, electronics & appliances, clothing &footwear, furniture & furnishing, household articles.

Multi format and Multi Category

Birla Food & grocery, electronics & appliances, clothing &footwear, furniture & furnishing, household articles.

Convenience and Supermarket


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FDI in Retail

At present, the government allows 51%foreign direct investment in a single-brand retail venture while 100% ispermitted in wholesale cash-and-carry.

Under single-brand retailing a store canstock goods that have the same brand.In the wholesale cash-and-carry route,which most foreign retailers use, there isrestriction on sale to individuals. Thesestores are only permitted to sell to outfitssuch as restaurants and kirana stores


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FDI in Retail

Foreign direct investment (FDI) inflowsbetween April 2000 and December2010, in single-brand retail trading,

stood at US$ 66.69 million, accordingto the Department of Industrial Policyand Promotion (DIPP).


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FDI in Multi Brand Retailing

India's multi-brand retail sector, isestimated to be worth $28 billion (Rs125,000 crore) according to a Boston

Consulting Group (BCG) study. The government is likely to permit

foreign direct investment (FDI) in the

multi-brand retail sector from April2012.


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The government prepared a draft in July2011, which says 49 per cent FDI inmulti-brand retail will be allowed in aphased manner which will be effective

from the next financial year i.e. April2012. The Committee of Secretaries (CoS)

headed by Cabinet secretary Ajit KumarSeth met on July 22 to finalise theblueprint of the proposal for politicalclearance. One of the major outcome ofthe discussion is raising 49% to 51%.


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According to the the economic advisor to thePrime Minister, Kaushik Basu , the governmentwill allow FDI in three phases. In the first phase,foreign multi-brand retail chains will be allowed inthe metros Delhi, Mumbai, Kolkata and Chennai.

In the second phase other metros like Bangalore,Hyderabad and Pune will be included.

The draft has laid out strict norms such asearmarking 40 per cent investment for backendinfrastructure, such as cold storage, soil testinglabs and seed farming, for prospective entrants.


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The move has paved the much-requiredway for international retailer likeBentonville, Arkansas-based Wal-MartStores Inc. and Paris-based Carrefour

SA to open their retail stores throughstrategic partnerships.

According to Business MonitorInternational, retail sales in India mayjump from $396 billion in 2011 to $785billion in 2015, representing a growth ofaround 100 per cent.


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to harm self-employment opportunities adversely affect the manufacturing

sector

harm small traders across the country.


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consumers will soon more options tochoose products

more and more investment in the

backend Improve the standard of efficiency of

supply chain management.

f


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Latest Information on IndianRetail Scenario Singapore-based CapitaMalls Asia,

which develops, owns and managesmalls across Asia, has pledged US$

400 million to its growth in India up till2014. Mr Kevin Chee, CEO andCountry Head of CapitaMalls Asia, hassaid that apart from funding the twomalls that are operational now, thismoney would be used to developseven more malls in India.


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Reliance Retail will enter the cash andcarry market with "Reliance Market" in

Ahmedabad; the first one to be

opened by August 2011.


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Ujala fabric whitener maker JyothyLaboratories has bought Henkel AG's 50.97 per cent stake in its Indian subsidiary

for US$ 137.02 million, including debtand preference shares, the twocompanies revealed. The deal includesHenkel's entire portfolio that includes

Henko and Chek detergents, Pril dishcleaners and Fa deodorant, and rights tothe multinational's future launches.


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With the launch of its first 'ArvindExperience Store' in Gujarat atVadodara, denim major Arvind Ltd. is

looking at 100 stores by the end of thefinancial year 2011-12. The store inVadodara is the company's eighth inthe country after seven stores in

Andhra Pradesh.


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Quick food service restaurant chainSubway will set up 45 outlets acrossthe country by 2011-12 entailing an

investment of around US$ 9 million.The company has now 205 outlets inIndia and plans to take its count to 250by the end of 2011-12.


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Max Hypermarkets, the food retailingchain of the Dubai-based LandmarkGroup is investing US$ 122.14 million

for its store expansion businessacross 30 cities in India.


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Retail - Government Initiatives

India will announce new rules for foreigninvestment in retail by April 2012, paving theway for companies such as Wal-Mart Storesand Carrefour to open stores, according to

Junior Trade Minister Jyotiraditya Scindia. Agovernment panel has issued a report thatrecommends easing a law that prohibits non-Indian companies from operating multi-brandoutlets. Allowing foreign investment in multi-

brand retail may help moderate food prices,said Kaushik Basu, chief economic adviser inthe finance ministry, who sits on the panel.


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India currently allows 51 per cent FDI in single-brandretail and 100 per cent in wholesale cash-and-carryoperations.

In a landmark decision, the government has easednorms for investments by foreign companies that arepresent in India through a joint venture (JV) or a

technical collaboration. Now, the foreign company willnot have to seek a no-objection certificate (NOC) fromthe Indian partner for investing in the sector where thejoint venture operates.

The government has also relaxed norms fordownstream investments and convertible instruments,giving foreign companies more powers. The changesare part of the third revision of the Consolidated FDIPolicy.


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KEY CHALLENGES

THE KIRANA


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THE KIRANA

CRM practice Known about the customers families Credit and home delivery Consumer familiarity runs from

generation to generation Open longer hours and stock most of thegoods

Consequently, a large number ofcustomers are not willing to pay apremium for the shopping experiencepromised by large format retailers.

HIGH COSTS FOR THE


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HIGH COSTS FOR THEORGANIZED SECTOR

High expenses to organized sector .

The lease cost up to 6-10 percent of

sales Manpower cost is lower at 5-6 percent

of sales

Capital costs are more in retailbusiness due to major renovationsneeded every 5-7 years.

Organizing Retail in India-Challenges


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Retail Challenges

g g g

Heterogeneous market

Product offerings in different stores across the country will be

very different

No standard mode of operation across formats

Market not mature (has to be validated)

Infrastructure will bring about logistical challenges

Though, improvements in road networks, power supply are

underway

Trained employees with understanding of retail business are

inadequate compared to the needs of organized retail

Barriers to Entry

High taxes, bureaucratic clearance process and labour laws

High cost of real estate

though over 600 malls are to come up all over the country by

the next 4 years

Indian retailers are deeply entrenched, are expanding and

building on logistics and technology initiatives


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Processes

Complex Processes - Multiple MRP, Deals & Promotions, Forecasting &Replenishment, Lean supply chainJIT inventory, flow through warehouse

Evolving processes in Supply chain & merchandising

Global Best Practices not adopted

Consumer

Infrastructure

High disposable income

Changing consumer preferences

28 states, 100+ religion, 250+ festivals

Supply chain not reliable. Cold storage infrastructure evolving Outsourced transportation

Low level automation in warehouses

Supplier/Vendor

Current IT

Little or no collaboration between vendor & retailer

Low fill rates from vendors

Highly localized assortments leading to relationship with multiple vendors Complex trading contracts and off invoice discounts

Multiplicity of disparate Systems & Data Formats

No architecture roadmap

Base ERP and home grown POS solutions. Low investments in store systems

No investments in planning & optimization technologies


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Challenges contd..Weakness of Player

Retail not being recognized as an industry in india.

The lack of recognition as an industry hampers the availability of finance to theexisting and new players. This affects growth and expansion plans

The high cost of real estate:

Real estate price in some cities in India are amongst the highest in the

world.

The lease or rent of the property is one of the major areas ofexpenditure, high lease rentals eat into the profitability of a project.

Lack of adequate infrastructure

Poor roads , lack of a cold chain infrastructure, etc , hamper the

development of food and fresh grocery retail in india.

The existing supermarkets and food retailers have to invest a substantial amout ofmoney and time in building a cold chain network.


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Multiple and complex taxation system

The sales tax rates very from state to state while organisedplayers have to face a multiple point control and tax

system,there is considerable expense to transfer good fromone store to another.Foreign direct investment:- The fact that foreign direct investment(FDI)is not permitted in

pure retailing is seen as one of the prime reasons for theslow growth of

retail in India. A global retailer can enter India only by way of a franchise

with an Indian partner or through technological alliances.Purchasing power of money

As the Indian population mostly consist of middle classfamilies and

low wages worker they don't want to go in the super marketor retail market

The Way Ahead


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The Way Ahead

India is amongst the least saturated of all majorglobal markets in terms of penetration of modernretailing formats

Many strong regional and national players emergingacross formats and product categories

Most of these players are now gearing up to expandrapidly after having gone through their respectivelearning curves

Real Estate Developers are also moving fastthrough the learning curve to provide qualitativeenvironment for the consumers

The Shopping Mall formats are fast evolving

Partnering among Brands, retailers, franchisees,investors and malls

Improved Infrastructure

In view of a compressedevolution cycle, retailers need to

simultaneously address issues of speed,

Execution and efficiency

Key Challenges


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Key Challenges

Key Challenges

to overcome

Attracting & retaining qualified manpower Implementing SOPs & best practices

Focus on improving operational efficiency Cost control CRM & Service levels

Internal

High real estate cost Anarchic laws

Shortage of qualified manpower Poor infrastructure Unorganized & poor supply chain

External

Key Opportunities


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y pp

Supply Chain Investments

Setting up logistics and supply chain infrastructure

Import of know how and logistics techniques from developed retail countries

IT Infrastructure

IT is the enabler behind communication, collaboration with suppliers, andan efficient supply chain

Manpower

Potential tie-ups with universities and setting up dedicated retail institutes

Utilize experience of international retailers to train local talent

Large Rural market

RETAIL ROAD AHEAD


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RETAILROAD AHEAD

There is a huge untapped opportunity inthe retail sector, thus having immensescope for new entrants, driving largeinvestments into the country.

A good talent pool, huge markets andavailability of raw materials atcomparatively cheaper costs areexpected to make India lead one of theworlds best retail economies by 2042.

The industry is also slated to be a majoremployment generator in future.

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Retailing in India _trends

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