12 Questions
What is the current size of the organized retail market in India as of 2016?
871 Bn
What is the projected size of the retail market in India by 2020?
1.1 trillion
What is the expected growth rate of India's online retail sector in 2017?
23%
What is the contribution of urban areas to the organized retail sector in India?
88%
What is the percentage of total retail business from the FNB & CPG sectors in India?
66%
What is the growth rate expected for the FMCG market in India by 2020?
US$ 103.7 billion
What does the term 'Retail' refer to?
The sale of goods and services to end consumers for personal, non-business use.
Where does the word 'Retail' originate from?
The Old French word 'tailer', which means 'to cut a piece off' or 'breaking the bulk.'
What is the significance of retail in the marketing process?
Retail is one of the final processes in marketing where the customer interacts with the product.
Which company tops the list of the world's most valuable companies?
Amazon.com
Mention one book referred to in the text related to Retail Management.
Retailing Management 8th Edition by Michael Levy, Barton Weitz, Ajay Pandit.
What is the role of the Apple store in emphasizing the importance of retail?
The story of Apple store showcases the significance of retail in creating a unique customer experience.
Study Notes
Indian Retail Sector
- The organized retail sector accounts for only 9% of the market, while the unorganized retail sector dominates with a 91% share.
- Unorganized retail typically operates from residential areas, has low rentals and taxes, and is often owner-managed with personal capital.
- It includes various small retail outlets such as kirana shops, general stores, and mom-and-pop stores.
Retail Market Size and Growth
- The organized retail market is valued at around USD 100 billion, while the unorganized retail market holds the rest.
- India's organized retail penetration is lower compared to other countries, such as the United States, which has an organized retail sector penetration of 85%.
- The current size of the organized retail market is around USD 871 billion, expected to reach USD 1700 billion by 2019.
- The retail market in India is projected to grow from USD 672 billion in 2017 to USD 1.1 trillion in 2020.
Consumer Behavior and Expenditure
- Personal disposable income grew by 12% from 2015 to 2016, and spending grew by 11%.
- India has the highest number of retail outlets per person in the world, with 7 outlets per 1000 people.
- India also has the lowest retail space per person in the world, with only 2 square feet per person.
Job Creation and Business Contribution
- The retail sector contributes around 8% to total employment.
- 66% of total retail business comes from F&B and CPG.
- Urban areas contribute around 88% to organized retail, with 21% coming from 17 metro cities.
- Rural areas contribute around 12% to organized retail.
Growth Factors and Projections
- Rising income and demand for quality products are expected to boost consumer expenditure.
- India is one of the fastest-growing markets in the world due to economic growth.
- India is the world's fifth-largest global destination in the retail space.
- The modern retail market in India is expected to double in size over the next three years.
World's Top Retail Companies
- The top 10 most valuable companies in the world include Amazon, Microsoft, Alphabet, Apple, and more.
- These companies have market capitalizations ranging from USD 347.99 billion to USD 802.18 billion.
Explore the basics of retail management with this quiz, covering topics such as the definition of retail, different retail formats, and the concept of the 4Ps of marketing. Learn how retail plays a crucial role in the sale of goods and services to end consumers for personal use.
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