USD325 BILLION INDIAN RETAIL MARKET; NOT AN EASY PIE FOR WORLD PLAYERS

What was started by a few players few years back has today become an obsession for many. Global retail formats/ corporations from the organized markets are heading for Asian economic titans like China, South Korea, Taiwan, Philippines, Malaysia and none other then our very own India.

Although the fundamental for retail trade goes back to the age-old Brick & Mortar format of the Imperial system, the market dynamics have taken their own course with introduction of world class value-services and experiences along with the core (expected) product. This 21st century comes up with greater challenges (supplier understanding) and improved narrations (consumer understanding). This in-tern brings in wide spectrum formats for selling goods & services at a macro level within the modern global markets.

INDIA, the land of opportunity, this is what global retail players like WALMART(USA), JC PENNY(USA), CARREFOUR(France), TARGET(USA), DAIEI(Japan), KROGER(Germany), METROAG(Germany), SEARS & TESCO(USA) believe. India’s billion+ market is witnessing its own indigenous retail revolution.

Years of India’s poor infrastructure, un-organized retail formats are now demanding their due diligence. Indian consumers expect the right strategy, critical to figure out and serve their buoyant 21st century needs (essence & lifestyle).

But is it what Indian retail story is all about. Infact, read this; 1) Small traders declare war on big retail in Mumbai, 2) Current market not ideal for retail investors (Source-economic times), 3) Centre plays hard for big retail (New Delhi), 4) IFA plans farmers’ cooperation to fight organized retail (Source-economic times).

The above paragraphs describe two facets of the same subject (Indian Retail Market). When we as Indians realize the significance of world as a civilized society and India as an emerging market, we (as a mass) are in no mood to substitute convenient kiryana stores with contemporary super stores and hyper markets. India as a nation (majority consumer) still exhibits ‘de Minimis’ as the de facto principle for acknowledging ‘product alone’ as a value purchase.

Never the less, situation will change as there is no excuse to it. India will rise to the world markets, world styles of living and shall lead life, the way ‘world’ does. Global retail giants will find the way through and will get their share of pie as India rises to the west. But, in case India doesn’t open its’ doors, India’s growth will be in trouble restricting employment & revenue opportunities.

Finally, India needs globalization as a philosophy and de-shackling of controls and trade barriers and a practice to make its market truly competitive and consumer inclined.
Inspiration: Mr. Sushant Munjal