retail sector in india
TRANSCRIPT
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RETAIL SECTORS Presented by :-Purval, Rashmi, Sandeep, JoyJayesh
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Retail Sector
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Evolution of Retail
Barter System was known as the first form of retail.
As time passed currency was exchanged with goods and services.
Hawkers carried out the first Retailing in Push Carts
Followed by Kirana Stores …….. Mom and Popup Stores
Finally Manufacturing era necessitated the small stores and Specialty stores
It was a seller market still than this point of time with the limited no of brands available
Barter chain Single brand franchise chain Standalone large store <_Chain of large stores And Finally Malls
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• Economist says that Boom Has Started of Retail due to more spending Capacity of Indians • Emerging of retail started in brief in patterns like changing face of the Indian retail sector
• Provide customers with 3 V’s i.e. Value, Variety and Volume.
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What is Retail?
“A retail is one who stocks the producers goods and is involved in the act of it to the individual consumer, at the Margin of Profit “.
As such retailing is the last link that connects the individual consumer with the manufacturing and distribution chain.
Selling Directly to consumer selling in smaller units / quantities the bulk.
Very high numbers near to neighborhood
Reorganized by the service levels
Retail Sector today is worth of 394 Billion Us $
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Indian Consumption
Big PictureGDP 2005 -06 :-PictureGDP -$700 bn :-PFC -$220 bn (30%) Investment -$480 bn
(70%) 2012 -13 :- PictureGDP -$1200 bn :- PFC -$600 bn (50%) Investment -$600
bn (50%)
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Heterogeneous country
29 states,12 different languages, 72 festivals
Internet era, not industrial Young country -60% below 30 years of
age Multi-format, multi-level Within the city, not suburbanIndian
Retail-Ground Realities
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Consumption = Development
CREATIVE/ INNOVATIVE avenues for CONSUMERS to want to spend their money
BETTER INVESTMENT/ BUSINESS opportunities for our PARTNERS & INVESTORS
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Food
Books & Magazines
Fashion & Clothing
Personal Care
Optical Consumer Electronics
Sport & Leisure
Home Ware
Footwear & Leather
Toys & Games
Jewellery & Watches
Furniture
Petrol
Different products involved in Retailing
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Manufacturers
Whole seller
Distributor
Retailer
Organized Sector
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Types of Retail Sectors
Unorganized Retailing Hawkers (Kirana) Weekly Markets Organized retailing Convenient / Departmental stores Factory outlets and discounts Market Supermarkets Wholesalers market Company and Franchises showroom
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Disadvantages Of Retail Industry in India Margins are low High property cost Poor Infrastructure Expertise in logistics Couple of firms in retail sector have turn
over more than Rs 100 cr
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Factors that attracted major industry players to enter the retail sector Phenomenal success of certain players in retail
sector Eg: Shopper’s Stop Hype created by management consultants and
media Phenomenal growth of service sector and
down turn in manufacturing sector A good way to leverage existing property Eg: Primals started developing Crossroads
after closing of Roche factory they have acquired on prime property in Mumbai
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Cont…. Globalization Success of organized retail sector in
developed countries Changes in Consumer behavior and
increase in their purchasing power. Ever green demand for basic things like
food Negative working capital ; Companies
buy on credit and sell for cash
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Importance
Largest and fastest growing sector in India.
Modern retailing forms one point stop for all shopping.
Consumer gets a large product variety of brands to choose from one roof.
First it was a sellers market and now its changing to buyers market.
By 2010 Indian retail sector would be generating 10 million employment opportunities.
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Retail Sector in India
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Some of the Key Players in Organised Retail
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Analysis of Growth by ASSOCHAM
Organized retail growing at estimated 25%
It is expected that retail in India could be worth US$ 175-200 billion by 2016.
2008-09 Total retails contribution to GDP is between 8% which would further jump up to nearly 12% in next few years. By 2010, retails contribution to national GDP in totality is likely to be 22%.
2008 – Retail Growth rate – 25-28%, Unorganized and organized retail size – 300 billion US$
Opening 10 to 15 outlets by 2015, it plans to employ about 5,000 people selling groceries, consumer goods, fruits and vegetables. India's retail industry is worth $300bn (£148bn)
Eg: Bharti has invested 60 Billion with the largest retail Walmart (last year)
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Retail Sector contribution to GDP sector is 8%-10%.
GROWTH OF INDIAN RETAIL SECTOR
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Elasticity of Demand for Luxury and Necessities
0
0.5
1
1.5
2
2.5
3
3.5
0 0.5 1 1.5 2 2.5 3 3.5
Pri
ce
Demand
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Government Policies The retail industry in India is growing at a significant pace.
However, there are several problems faced by the industry. The major challenges for the organized sector include:
Taxation laws that favor small retailers.
Multi-point octroi collection.
According to analysts, for this industry to thrive, Indian retailers need to emulate worldwide retail practices such as accuracy in financial reporting, increased levels of corporate governance and greater accountability among employees.
Foreign Equity does not go beyond 51 percent.
Additions to the product categories to be sold under ‘single brand’ require fresh govt. approval.
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International Retail: At a Glance
38%
27%
13%
8%3% 2% 9%
USA EU Japan China
India Russia Others
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Share of Organized Retail
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Key Players
Highly evolved US market has WalMart taking only 8% market share UK market has Tesco with only 13.4% market share China market still does not have a clear leader
USA = US$ 2,350 Bn UK = US$ 406 Bn China = US$ 313 Bn
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SWOT Analysis
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Strength Increasing demand driven by the country’s
young working population
Increase in per capita income which in turn increases the household consumption
Create win-win situation for all links in value chain ( suppliers, producers, retailers and customers).
Improvement in the standard of living.
Technology intensive industry
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Weakness
Lack of expertise in Supply Chain Management
Inadequate Infrastructure
Stringent Labor Laws
Lack of specialized professionals in Industry
Lack of industry status.
Government Restrictions on FDI
Non-Availability of Government Land.
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Opportunities
Change in consumer behavior pattern and increase in disposable income.
It is estimated that 15 million people would be engaged in Retail and Retail support activities by 2010
Indian rural markets offer a sea of an opportunity for the retail sector.
Upcoming international Players
Healthy prospect for the fashion industry.
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Threats
Indian taxation system favors small retail business.
Competition from unorganized Sector to the organized Sector.
Middle class Psychology.
Increasing Real Estate prices
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Factors which the new entrant into retail sector failed to verify For FMCG giants the proposition of their
sales through organized retail remains small
Failed to learn from the failures in organized retailing like TVS group’s Stop & Shop.
Growth rate of small retailers. Trading Inefficiencies which forces the
manufactures to increase the price
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Cont…. Small retailers can compensate this by
personalized services like credit and free home delivery.
Unsupportive nature of few manufactures like not printing the bar codes, despite this being so important for retail logistics.
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Franchise International company gives name
and technology to local partner. Gets royalty in return
In case master franchise is appointed for region or country, he has right to appoint local franchisees
Nike, Pizza Hut, Tommy Hilfiger, Marks and Spencer, Mango
Manufacturing Company sets up Indian arm for
production Bata India. It also has right to retail in India
How they are present
International retailers in India: Strategies
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Distribution International company sets up local
distribution office Supply products to Indian retailers
to sell Also set up franchised outlets for
brandSwarovski, Hugo Boss
Wholesale trading Cash and Carry operations 100% FDI permitted
Metro Cash n Carry
How they are present
International retailers in India: Strategies
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Improve competition Develop the market Greater level of exports due to
increased sourcing by major players Sourcing by Wal-Mart from China
improved multifold after FDI permitted in China
Similar increase in sourcing observed for Metro in India
Provides access to global markets for Indian producers
Benefits of FDI
Why FDI?
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Investment in technology Cold storage chains solve the perennial
problem of wastage Greater investment in the food
processing sector technology Better operations in production cycle and
distribution Better lifestyle
Greater level of wages paid by international players usually
More product variety Newer product categories Economies of scale to help lower
consumer price Increased purchasing capacity of
consumers
Benefits of FDI
Why FDI?
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FDI should be allowed in stages Initial stages: 26% FDI
Establishment Phase: 49% FDI
Mature Phase: 100% FDI
FDI policy No incentives needed to attract FDI Market size and potential are
sufficient inducers No need for costly tax breaks, import
duty exemptions, land and power subsidies, and other enticements
How FDI ?
How FDI ?
2 yrs
2 yrs
2 yrs
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Wal-Mart’s Productivity Loop
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Consequences of Wal-Mart’s Productivity Loop
Step 1: Reduce CostsA. Squeeze suppliers
1. Extracts producer revenues2. Relocated manufacturing overseas3. Increase foreign debts
B. Erodes Wages and Benefits1. Low wages in a low-wage sector2. Working off the clock3. Skimps on benefits, e.g., health care
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Consequences of Wal-Mart’s Productivity Loop
Step 2: Reduce Retail PricesA. Improves consumer living standards
1. Increases consumer purchasing powerB. Displaces existing retailers
1. Drives out small chains and independent producers
C. Displaces existing suppliers1. Excludes local businesses from internal Wal-Mart
supply systemsD. Triggers retail price wars
1. Pressures industry rivals to imitate its operative behavior
2. Extends to national and global markets
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Consequences of Wal-Mart’s Productivity Loop
Step 3: Increase Sales
A. Increases efficiency of supply systems1. Higher sales volume means greater economies of
scale
B. Facilitates additional consumer debt
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Kishore Biyani and Big Bazaar Starts with his family business in textile. 1987 he launched frist ready-made
trousers brand- Pantaloon. 1992 Pantaloon Fashion went public. Started manufacturing garments under
two more brands – John Miller and Bare. The business seems unviable due to high
distribution cost and margins. 1997 – opened his first store at Kolkata.
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Cont…
Store did a business worth Rs 100 million.
2001 he introduced the hypermarket concept adapted to Indian conditions in the form of Big Bazaar(Mumbai).
For further expansion Biyani went for a loan of Rs 1.2 billion.
Was able to pull out over1,00,000 people within 1st week of its operation.
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Cont….
Gave the Indian customers the feel of local market place – narrow lanes, crowded market place and customers bumping into each other and into commodities.
He understood that Indian like the hustle-bustle of the market place, which gives them a feeling that the goods are sold at a lower price.
Exploited the Economics of scale. Tie up with manufactures to bring down
the selling price of products.
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Cont….
2002 Biyani started Food Bazaar within Big Bazaar.
Focused on “Farm To Plate“ concept in Food Bazaar (Farm next to the store).
Sold In House products. Used traditional supply chain management. His principle was “KIS” Keep It Simple; ie not
making the operations complex.
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CONSUMPTION IDEAS INVESTMENT IDEAS
WHO? FUTURE RETAIL Everyone that constitutes consuming India
WHERE? FUTURE SPACES Creating property & public retail infrastructure everywhere in India
WHAT? FUTURE BRANDS Identify, mentor, invest and grow INDIA centric brands Plan
HOW? FUTURE CAPITAL Property, Brands, Insurance & most importantly easy access to money for consumers
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LINE OF BUSINESS
HEALTH, BEAUTY & WELLNESS FINANCIAL PRODUCTS FASHION HOME FOOD COMMUNICATIONS GENERALMERCHANDISE LEISURE &ENTERTAINMENTL
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Pantaloon Retail (I) Limited
Fashion Pantaloons 25,000(sq.ft.) Lifestyle(format) Central 1,25,000(sq.ft.) Lifestyle Big Bazaar 50,000(sq.ft.) Value Fashion Station 15,000(sq.ft.) Value
FoodFood Bazaar 10,000(sq.ft.) Lifestyle & Value
GMBig Bazaar 50,000(sq.ft.) Value Books & MusicDepot 1,000-6,000(sq.ft.)
Lifestyle & Value
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Type Health, Beauty & Wellness
Star & Sitara(Beauty Products) 1,000-2,000(sq.ft.) Value
Star & Sitara(Beauty Salons) 2,500(sq.ft.) Value
Health Village 25,000(sq.ft.) Lifestyle & Value
Communication :-Gen M500-1,000 (sq.ft.) LifestyleM Port 1,500-2,000(sq.ft.) LifestyleM Bazaar 250-500(sq.ft.) Value
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Electronic Goods & Consumer AppliancesE-Zone 12,500 (sq.ft.) LifestyleElectronics Bazaar 3,000-6,000 (sq.ft.)
ValueFurniture, Furnishings & Accents Collection
I10,000 (sq.ft.) LifestyleFurniture Bazaar3,000-6,000 (sq.ft.) ValueHome Improvement Home Town1,25,000
(sq.ft.) Lifestyle & Value
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Restaurants, Leisure & EntertainmentBlue Foods (50:50) --Fine Dining Restaurants Galaxy Entertainment (15.73 % stake) Bowling Company 30,000Lifestyle F123-Arcade & Games 7,000-20,000
Lifestyle Sports Bar 2,500 Lifestyle Chamosa 100 Value Footwear Retailing –Foot Mart Retail (I) LimitedLiberty Shoes (51:49)Shoe Factory
6,000-15,000 Value
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Fashion & SportswearPlanet Retail (49:51)Lifestyle KidswearRetailing GJ Future Fashions Limited (50:50)Gini& Jony1,500-5,000Lifestyle Health, Beauty & Wellness :-ManipalHealth Systems ManipalCure &
Care (50:50)Lifestyle & ValueTalwarkar’s(50:50)
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ONLINE RETAIL
Leveraging Future Group’s presence across 70% of customer’s wallet.
Objective is to create the experience of 26thJanuary on the net.Futurebazaar.comto focus on deals, gifting and trust.
Beta testing underway
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Subsidiary
•73% HSRIL (Home) •74% FCH (Capital) •100% F/Media (OOH) •100% F/Bazaar (E-Tailing) •100% F/Logistics (SCM) •100% PFP (Sourcing) •100% Pantaloon Food Solutions (F&B)
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Joint Ventures
•49% Planet Retail •51% Liberty •50% GiniJony •50% Blue Foods •50% Talwalkar •50% Manipal •50% CapitalLand(REIT & MM) •50% Alpha GroupConsolidated
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Conclusion
Huge Scope for Development
Competitive Market
Organized retail is fast growing at a rate of 30% YOY
Greater opportunity for employment
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Recession Strategy
Offering more & more special discounts.
The Great Indian Shopping Festival.
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