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    RETAIL

    Retail is the final stage of any economicactivity . By virtue of this fact , retailoccupies an important place in the worldeconomy .

    According to philip kotler, Retailingincludes all the activities involved inselling goods or services to the finalconsumer for personal , non-business

    use .A retailer or retail store is any business

    enterprise whose sale volume comesprimarily from retailing

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    RetailingThe word retail is derived from the French word

    retaillier , which means to cut of a piece or to breakbulk .

    Therefore , a retailer may be defined , as a dealer

    or trader who sells goods in small quantities or one

    who repeats or relates

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    Functions of a retailer From the customers point of view the retailer serves him by providing the goods that he

    needs in the required assortment , at the required place and time .

    From an economic standpoint , the role of a retailer is to provide real value or utility to thecustomer .This comes from four different perspectives .

    The first is regarding the fo rmof a product that is acceptable to the customer .

    The retailer perform the function of storing the goods and providing us with an assortment of

    products in various categories .

    He creates t imeutility by keeping the store open when the consumers prefer to shop .

    By being available at a convenient location, he creates placeutility .

    Finally , when the product is sold , ownersh iputility is created

    The retailer also serves the manufacturer by performing the function of distributing the goodsto the end consumer and thus forming a channel of information .

    For several product categories where brand loyalty is not very strong or for unbrandedproducts , the retailers recommendation is vital.

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    Retail Market in India The Indian retail market has experienced growth of 10.6 % between

    2010 and 2012. and expected to increase up to USD 750-850 billion by2015.

    Food and grocery is the largest category within the retail sector with60% share followed by apparel and mobile segment.

    Indian Retail Sector is One of Indias fastest growing sector.Retail sector is Indias basic to growth after agriculture sector.

    Indian Retail employees more than 7% of Nations workforce andstands 2nd after agriculture.

    Indian Retail Sector has the highest outlet density in the world withnearly 12 million outlets.

    Indian Retail sector has evolved slowly and steadily from its basics and

    still exists in various forms, right from very traditional to modern trends. You can still have glimpse of the traditional retails even in cities and in

    rural India, while the new retail format is becoming popular in cities aswell as in emerging rural India.

    Many changes have come in Indian retail industry which transformedthis industry.

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    The rise of the retailer

    Today , retail has emerged as a separatefunction by itself. The environment in a

    large organized retail store is significantly

    form that in a traditional or a mom andpop store .

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    Reason for the change

    Proximity to the customer (close tocustomer) The rise of consumerism ( consumer often

    have forced retail organizations to changetheir formats and product offering ) .

    The introduction of the private label(in-store brands / product )

    Technology

    A. Point of sale scanning systemsB. Customer card to track the customer.C. Internet (online operation)

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    Prominent Sectors in Indian retail

    Food and grocery

    Clothing and textile

    Consumer Durables

    apparels

    Jewelry retail

    Books , music and gift retail

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    Prominent players in Indian

    retail

    Future group

    Big Bazaar , Pantaloon , ezone

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    Reliance Retail outlets

    http://www.google.co.in/imgres?imgurl=http://www.colourcraftstudio.co.in/uploads/clients/25_8e296a067a37563370ded05f5a3bf3ec.jpg&imgrefurl=http://www.colourcraftstudio.co.in/&usg=__-Q74JpC8m8bzRBl1-uw7PSb4kK0=&h=163&w=167&sz=16&hl=en&start=8&zoom=1&tbnid=StaZgd0uxLrLwM:&tbnh=97&tbnw=99&ei=1sC2UY-HIs7KrAfszIDQCg&prev=/search?q=star+bazaar+logo&hl=en&biw=1188&bih=541&site=imghp&tbm=isch&itbs=1&sa=X&ved=0CDoQrQMwBw
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    TATA Retail Outlets

    http://www.google.co.in/imgres?imgurl=http://www.colourcraftstudio.co.in/uploads/clients/25_8e296a067a37563370ded05f5a3bf3ec.jpg&imgrefurl=http://www.colourcraftstudio.co.in/&usg=__-Q74JpC8m8bzRBl1-uw7PSb4kK0=&h=163&w=167&sz=16&hl=en&start=8&zoom=1&tbnid=StaZgd0uxLrLwM:&tbnh=97&tbnw=99&ei=1sC2UY-HIs7KrAfszIDQCg&prev=/search?q=star+bazaar+logo&hl=en&biw=1188&bih=541&site=imghp&tbm=isch&itbs=1&sa=X&ved=0CDoQrQMwBw
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    Adtiya Birla Retail Ltd

    (ABRL)

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    GLOBAL RETAILER IN INDIA

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    6 global retailer in india queue The government has received six proposals from global

    single-brand retailers keen on setting up operationsthrough 51% joint ventures with domestic partners,.

    Apparel maker Tommy Hillfiger

    clothing retailer Brooks Brother Group

    Italian jewellery brand Damiani International,French fashion brand Promod SAS, Fapa Company Ltdand NA Pali Europe SARL,

    An arm of sportswear retailer Quiksilver Inc, are the sixglobal retailers queuing up to establish operations inAsias third-largest economy.

    The government has also received two other proposals by British footwear major Pavers England and Sweden-based furniture company IKEA Group to set shop inIndia through wholly-owned subsidiaries (100% FDI),

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    Top Retail Brands in India

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    Retail is a people centric industry and is one industry whichcan simultaneously expose you to many skills and disciplines .

    Buying and merchandising

    Selection of vendorsCost of merchandise procured

    Allocation of merchandise to stores

    Developing distribution plans

    Calculating gross margin .

    Extensive travelling to locate vendors and exclusive merchandisefor the retail stores .

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    Marketing

    In retail functions may be centralizedand may include different

    departments like advertising , sales

    promotion and public / press relations. Marketing would look at ways of

    understanding the customer and his

    behavior by way of focus groups andanalyzing of customer buying patterns

    to develop strategies .

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    Store Operations Retail professionals in the store operations career area

    oversee overall store operations and profits.

    Positions include

    Head of store operations

    Regional Manager

    District Manager

    Responsibilities:

    Managing staff Functions like loss prevention / humanresource

    Responsibilities of store manager:

    Ability to lead and motivate employees as well as have aneye for detail

    Store management involves all the disciplines necessary torun a successful business.

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    Sales Very often , sales is considered as a part of store operation

    Positions :

    Sales Associates

    Cashier

    Store Stock Associates

    Stock receiver

    Responsibilities :Serve the customer on selling floor

    Receiving Merchandise into the floor , counting it and displaying it

    Receiving merchandise returned by customer .

    Skills needed :

    Ability to deal with peopleFlexibility

    Ability to work in team

    Sales position is the entry position in retail

    Cashier would work behind the cash register desk and would be responsible forbilling

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    Finance

    The finance retail career includes all accountingand treasury functions like

    Accounting for income

    Paying Expenses

    Compiling

    Maintaining financial records

    Money Management

    Cash Flow control

    Banking , investment and credit lines

    Auditing of stores for merchandise

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    Human Resources

    Human Resource in retail may range fromrecruiting and hiring employees to largeareas like

    a) Indentifying training needs a variouslevels within the organization and thendesigning and implementation the programs

    b) Overseeing compensation and benefits .

    c) Planning for and ensuring legal compliancein hiring and employment practices

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    Technology And E-Commerce Retail is one of the most mature users of

    information technology .

    Career in this department may ranges fromoverall responsibility for data processing efforts

    within the chain including system design ,programming computer operations andinformation systems (IS) .

    System development may be another area ,which would be responsible for programmingone segment of the business such asmerchandising , finance or logistics .

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    Visual Merchandising

    Visual merchandising is largely associated with creatingthe look of the store.

    Visual merchandisers are responsible for the totalmerchandise or service presentation , the overallbusiness image and even the building and placement of

    design elements .

    The increase in competition has necessitated retailers todifferentiate themselves from the competition .

    While products and services are the primary methods ofdifferentiation , visual merchandising is fast becoming anarea of differential advantage , as it is believed thatattractive displays attract and stimulate , which in turn isbelieved to create increased sales

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    Supply Chain Management and

    Logistics

    Supply chain management and logistics are fast emerging askey focus areas in retail .

    Supply chain management is the integrated management of theflow of materials and products, services and information from

    raw material supplier , through operations ,to the final customer,and back again .

    Effective management of the supply chain enhances profitability.

    Depending on the size of the organization , a job in supply chainmanagement may involve analyzing and negotiating contractswith suppliers, manufactures and / or distributors , capacity andproduction planning , resources allocation and facility locationand scheduling the transportation and logistics of product /services to their final destination