The origin of organized retail in India is relatively new compared to the West, where organized retail came into being more than a hundred years ago. However, the Indian retail industry is currently experiencing a boom, and with the possibility of the entry of potential foreign players, the competitive scenario is really warming up. The objective of this study is to determine whether or not all retail outlets are perceived equally by young customers in terms of some pre-selected dimensions. The study is based on primary data collected in and around Hyderabad, India. The findings of the study provide insights into the perception of the youth regarding retail outlets, and provides the base for further studies.
Organized
retailing was absent in India till the 1990s, though the
roots can be traced back to the late 1800s with the establishment
of the `Spencers' departmental store in South India in 1897,
which had different sub-divisions within itself, a phenomenon
common in hypermarkets and large retail stores today.
There
was a big gap from the Spencer's to `Shopper's Stop', an
apparel retail outlet that was launched in October 1991.
Shopper's Stop was a joint venture by a group of companies
by the name K Raheja Corporation. Food retail took almost
five years after that, to come into the scene. `FoodWorld',
was one of the first food retail outlets, a division of
the Spencer and Co., which is currently owned by the RPG
Group. FoodWorld started out in Chennai in May 1996, and
was separated as an independent company in 1999. Subhiksha
came up in Chennai in 1997 and Nilgiris (which started out
as a dairy in 1905), came up in Bangalore in the mid-90s.
`Pantaloons' was the second major in apparel and accessories
which came up in 1997-98 and went on to become a major player
in organized retail. The year 1998 saw the opening up of
a bevy of retailers all with their own private labels. Tata
came up with `Westside', Dubai-based Landmark Group came
up with LifeStyle, and `Globus' owned by the Rajan Raheja
group in Indore (Store opened in 1999). All the three were
trendsetters in fashion and trendy lifestyle. |