The word `retailing' is derived
from the French word
`retailer', which means to `to cut a piece off'. It includes all
the activities involved in selling goods or services directly to the
final consumer for personal or non-business
use. The retail scenario in India is very unique as compared
to the world scenario. In the early 1980s, the industry was
dominated by the unorganized sector which largely comprised of
peddlers, vegetable vendors, neighborhood kirana stores, sole clothing and consumer durable stores.
The unorganized retail market was a sellers market wherein
the consumers did not have a wide range of products and services to
choose from. On the other hand, organized retailing was largely limited
to manufacturer-owned retail outlets, primarily from the textile
industry, e.g., Raymond, Bombay Dyeing, Grasim, Vimal and S Kumars.
The organized retail industry in India had not progressed until
the era of globalization and liberalization. The change in
the demographic profile of the Indian consumer and the
consumer's buying behavior gave momentum to the growth of the retail sector in
the country. The growth in organized retail in India was heralded
by Kishore Biyani, Managing Director of Pantaloon Retail India
Limited (PRIL). Inspired by Pantaloon's successful endeavor, a number
of Indian business titans such as Reliance, Bharti, Birla and
even domestic retailers like Cotton World (Mumbai), Nirula's
(Delhi), Vivek's and Nilgiri's in the south made an entry into the
organized sector. |
