The Retail Promise

What does the next decade hold for retailing in India? With the economy expected to deliver around 8 per cent growth for the next many years, the domestic retail market is likely to more than double and probably hit the $900-1,000-billion mark by 2020.

As we enter 2010, we already have some of the country's and the world's biggest businesses engaged in retail activity. These include Tata, Birla, Ambani, Bharti, Essar, Mahindra & Mahindra, and RPG in addition to exceptional entrepreneurs that have successful ventures in Future Group, Shoppers Stop, Landmark (Dubai) and others. If the current decade has turned out to be a decade of slower, but steady, evolution of modern retailing in India, the next decade will finally see a revolutionary change that will undoubtedly make a very visible impact on the, by then, 1.3-billion strong India in 2020.

The hard sellers

Pantaloon retail: They changed the way Indians shop by providing air-conditioned comfort at kirana pricing under one roof.It has over 13 million sq ft retail space covering 1,000 stores. Pantaloon India Retail has a turnover of Rs 6,342 crore.Big Bazaar is 60 per cent of that.

Tata:The group has a significant presence in retail under different brands: Trent and Star Bazaar (its hypermarket stores),Westside for lifestyle retail, Landmark for books and music and Titan for watches and sunglasses.

Reliance retail: Despite being a late entrant in retail, Reliance has managed to set up 700-odd stores, including those of Reliance Fresh and Reliance Mart.

The mobile store: The Essar Group-owned chain is the big daddy in mobile retail with 1,400 stores across the country.It is planning to double its network to around 2,500 stores by March 2012 and launching its own mobile phones soon.

RPG: Perhaps one of the oldest groups in the retail business in the country,the RPG group has Spencer's Retail,a multiformat retail format with 250 stores, Music World and Books & Beyond.

Spin-offs

Products of commerce

Malls: They have sparked off a consumption boom, whether it is fashion or eating out.From just three malls in 2002,the country has about 120-odd malls at present. Going by a study,another 300 malls will be added by next year.

Parking management: With the arrivals of malls came vehicle parking. It is estimated to be a Rs 300-crore business.

TeleShopping: Peddles too-good-to-be-true products.Aired late at night, the market is estimated to be worth more than Rs 250 crore.

Mall rats: India's BPO boom spawned a generation of mall rats who,with their upwardly mobile lifestyles and high spending power,hung around the malls over the weekends burning plastic.

Retail therapy: Shopping always helps lift the spirits. Truly therapeutic.

Plastic money: Credit card usage spiked with the entry of malls and organised retail. There are over 160 million debit and credit card holders in India today.  

 News from ( Yahoo )