Retail Management: An Introduction

With only two percent of the entire Indian retail landscape dominated by the organized sector, the industry is certainly at an embryonic stage. Organized retailing made its presence felt in the country only during the last decade after the first lot of entrepreneurs set up exclusive outlets. Since then, the retail scenario is moving at a rapid pace in an attempt to catch up with global standards. From Mom and Pop Stores to Department Stores, Shopping Arcades to Malls, Supermarkets to Hypermarkets the evolution of retail formats is on at a frenzied pace and with increasing numbers. Shopping for the consumer has indeed come a long way from the days when it was a monthly ritual undertaken by the parent – to a fun-filled shoppertainment concept introduced by large retail outlets. In keeping pace with the changing times, today’s consumer is more in touch with the global developments and expects superior quality at an affordable price. The retail consumer is time-conscious and expects instant and personalized service. To reach out to him, retailers have mastered the concepts of Category and Brand management. In an attempt to position themselves apart from competitors, the outlets are drawing lessons from all the possible CRM concepts known to the field. However, at the end of the day the consumer is price-sensitive and constantly on the lookout for outlets which are truly practicing the principles of Discounting. This introductory book on “Retail Management: An Introduction” discusses these and a few other issues of interest to the practicing managers, academicians and students of management. Cases relating to the international and Indian context provide insights into the challenges faced by retailers and enable us to share their experiences.