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Chapter I

Introduction

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1.0 Introduction

An important aspect of the current economic scenario in India is the emergence of

organized retail. There has been considerable growth in organized retailing business in recent

years and it is poised for much faster growth in the future. Major industrial houses have entered

this area and have announced very ambitious future expansion plans. Transnational

corporations are also seeking to come to India and set up retail chains in collaboration with big

Indian companies. However, opinions are divided on the impact of the growth of organized

retail in the country. Concerns have been raised that the growth of organized retailing may

have an adverse impact on retailers in the unorganized sector. It has also been argued that

growth of organized retailing will yield efficiencies in the supply chain, enabling better

access to markets to producers (including farmers and small producers) and enabling higher

prices, on the one hand and, lower prices to consumers, on the other. In the context of

divergent views on the impact of organized retail, it is essential that an in-depth analytical study

on the possible effects of organized retailing in India is conducted.

India has sometimes been called a nation of shopkeepers. This epithet has its roots in the huge

number of retail enterprises in India, which totaled over 12 million in 2003. About 78% of these

are small family businesses utilizing only household labor. Even among retail enterprises that

employ hired workers, the bulk of them use less than three workers.

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India's retail sector appears underdeveloped not only by the standards of industrialized countries

but also in comparison with several other emerging markets in Asia and elsewhere. There are

only 14 companies that run department stores and two with hypermarkets. While the number of

businesses operating supermarkets is higher (385 in 2003), most of these had only one outlet.

The number of companies with supermarket chains was less than 10.

Food is defined as any substance taken into the body for the purpose of providing nourishment.

The food industry is the complex, global collective of diverse businesses that together supply

much of the food energy consumed by the world population. With population around the world

concentrating in urban areas, food buying is increasingly removed from all aspects of food

production.

Food accounts for the largest share of consumer spending. Food and food products account for

about 53 percent of the value of final private consumption. This share is significantly higher than

in developed economies, where food and food products account for about 20 per cent of

consumer spending. Significant spending on food and increasing out-of-home food

consumption represent opportunities for food retailers and food-service companies

(www.tata.com) to cater to their needs.

Retail, according to concise Oxford English Dictionary, is the ‗sale of goods to the public for use

or consumption rather than for resale‘. Retailing is derived from the French word ‗retailer‘

meaning ‗breaking bulk‘ and breaking bulk quantities into smaller saleable units. Usually, a

retailer buys goods or products in larger quantities from manufacturers or importers, either

directly or through a wholesaler and then sells individual items in small quantities to general

public or the end users.

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This is relatively a recent development, taking place mainly over the last 50 years.

The supermarket is a defining retail element of the food industry, where tens of thousands of

products are gathered in one location, in continuous, year-round supply. Supermarkets were first

established in the

U.S. during the 1930s as no-frills retail stores offering low prices. In the 1940s

and '50s they became the major food marketing channel in the U.S.; the 1950s also saw them

spread through much of Europe. Their growth is part of a trend in developed countries toward

reducing cost and simplifying marketing. In the 1960s supermarkets began appearing in

developing countries in the Middle East, Asia, and Latin America, where they appealed to

individuals who had the necessary buying power and food storage facilities.

The world over retail sector has been growing rapidly with increasing

sophistication and modernization of the life-style of households and individuals and with

increasing globalization of trade. The retail sector has strong backward and forward linkages

with other sectors like agriculture and industry through stimulating demand for goods and

through mass marketing, packaging, storage and transport. Moreover, it creates considerable

direct and indirect employment in the economy. Also, the consumers have benefited in terms of

wide range of products available in a market.

The retail sector is broadly classified in to two groups; Organized and Unorganized retail sector.

The organized sector is mainly characterized by typically large number of retailers, greater

enforcement of taxation mechanisms and better labor law monitoring systems. It is not just a

stocking and selling, but is more about efficient supply chain management, developing vendor

relationships, quality customer service, efficient merchandising and timely promotional

campaigns. On the other hand the unorganized retail market is characterized by typically small

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retailers, more prone to tax evasion and lack of labour law supervision. This market is more

common in developing countries. Global Scenario:

Retail has played a major role world over in increasing their activity across a wide range of

consumer goods and services. The impact can be seen in countries like U.S.A., U.K., Mexico,

Thailand and more recently China. Economies of countries like Singapore, Malaysia, Hong

Kong, Sri Lanka and Dubai are also heavily assisted by the retail sector.

Globally, retailing is a big business. Its turnover is fast marching to $ 6.6 trillion. The retail

industry in America employs more than 22 million people and generates more than three trillion

US dollars in retail sale annually (www.epwrf.res.in). According to the India Retail Report

2005~Images-KSA Technopark, the retail sales was found to be the highest in developed

countries like U.S.A. and U.K., wherein 85 per cent of the retail sector was constituted by

organized retailing due to 100 percent Foreign Direct Investment (FDI) and its contribution of

nine per cent to GDP and more than 10 per cent employment in these countries

(www.imagesretail.com/india_retail_report.htm). The share of organized retail is more so in case

of developed countries due to the busy life schedule and lack of time for shopping, high literacy

rate, exposure to media, greater availability and penetration of variety of consumer goods into

the interiors of the country and better shopping experience. Whereas, the share of organized

retail outlets in developing countries was very less, it was 17 per cent in China and very meager

of about three per cent in India because of the poor literacy rate, lack of exposure to media, non-

availability and low penetration of consumer goods to rural areas of the country and lack of

shopping experiences.

There are many Multi National Companies (MNCs) operating in the retail business

throughout the world. The big four champions in 2004 were Wal-Mart, Carrefour, Home Depot

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and Target. Except Carrefour, which was hailed from France, all these top champions were from

U.S.A. The combined sales was $ 438 billion and were growing at the rate of 10 per cent per

annum, there growth comes from putting small stores out of business. This is happening in

Europe and Asia. The Big Box and Hypermarket are operating everywhere. However, Germany

based Metro is operating in 27 countries all over the world including India (KSA Technopark).

The traditional forms of independently owned small business and co-operative have lost

significant market share in developed countries and the retail sector in these countries is now

characterized by large multiple chains run by powerful and sophisticated organizations. In

global, the recently existing retail formats are Hypermarkets, Supermarkets, Mass merchandisers,

Discounters, Convenience stores, Specialty stores and Mom-and-pops. The evolving formats

with their dealing category of goods and the examples of the type are shown below:

1.1 Types of Retail Formats:

Hypermarkets – These are mainly located out of town covering an area over 40,000 Sq. ft aim

at the monthly bulk shoppers. These markets have spacious parking lots and sell a variety of

products such as electronic, clothing, durables and so on apart from groceries.

Supermarkets – It mainly based on the classical self-service system. Its area varies from 4,000

to 20,000 Sq. ft. They mainly focus on one of the primary conditions of grocery, household

goods, personal care etc.

Mass Merchandisers – The mass merchandisers have cross country chain operations. They have

centralized sourcing hub, spiked distribution and sell almost everything at competitive prices.

Discounters – Aimed mainly at bargain buyers, they are different from supermarket. They offer

less choice in each category; give discounts, cheap costs and inventories at lower level.

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Convenience stores – They are located at convenient points like petrol stations that keep open

day and night and sometimes do odd jobs for time starved customers (clothes, laundry, medicine

prescription, pick up). They occupy a small area, usually less than 2,000 Sq. ft.

Specialty stores – These are moving towards ‗consultative shopping‘; where a salesman is well

trained in offering specialized advice to customers before they purchase any commodity.

Mom-and-Pops – Traditional formats, these are very small (less than 1000 Sq. ft), and family

owned corner shops.

1.2 Top 10 global retail markets

The story of globalization of retail industry is interesting. A decade back, it was hard to imagine

that international retailers would set up shop in your neighborhood but global retail giants are

now spreading their wings across the globe to cash in on new opportunities.

Though India boasts of an emerging retail market with top international retailers like Wal-Mart,

Carrefour keen to establish their presence, India does not figure in the top ten most preferred

global retail markets. Out of the BRIC (Brazil, Russia, India and China) countries, China and

Russia are in the top 10 list.

1. UNITED KINGDOM

The United Kingdom is ranked as the most preferred by international retailers. The UK is

home to the highest percentage of the world's top international retailers, with 55 per cent

of 250 brands surveyed present, according to 'How Global is the Business of Retail?', a

new report from CB Richard Ellis.

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India ranks 44th in the list of most preferred retail destination in the world due to factors

like FDI restrictions and lower average per-capita income, a report has said. While

retailers from the United States are represented around the world, in markets as diverse as

South Africa, Scandinavia, Ireland and Israel, the UK attracts more American retailers

than any other country.

London is often a springboard destination for American retailers, allowing them to be

present in an iconic fashion hub and explore opportunities for expansion into Europe at

the same time.

So which are the other countries that make up the top ten most preferred retail hotspots?

2. SPAIN

Challenging the UK's dominant position is Spain with the second-highest presence of

international retailers. Spain's position as the second-ranked market a gives new insights

into the emerging global significance of its market, says the CBRE report.

It houses 51 per cent of retailers surveyed. Spain's ability to attract global retailers is

promoting itself as global retail destination and threatening the UK's title as the 'most

international retail market' in the world.

Several countries which have not historically proven attractive to international retailers

have enjoyed increased interest over the last few years. Despite its second place global

ranking of international retail presence, Spain is a relatively new destination for

international retailers.

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Strong economic performance has boosted retail sales, generating strong demand for

space in high street and shopping centre locations from both domestic and international

brands.

3. FRANCE

France has the next highest presence of American retailers, attracting 48 per cent of

retailers. US retailers have a relatively low penetration outside the mature Western

European markets, suggesting that Europe still holds good opportunities.

According to the report, of the 52 North American retailers surveyed, 75 per cent are

currently present in the UK.

Establishing a presence in the five largest global economies (the US, Japan, Germany,

France and China) would give a retailer exposure to 57% of the world's GDP. Operating

in the 10 largest economies covers almost three quarters of the total global economy.

American retailers are on average present in only 14 markets but, by virtue of being in

the United States, they access over half of global GDP. European retailers are typically

present in a larger number of markets, but access less than 40% of global GDP because

almost half are not present in the US.

4. GERMANY

Germany is the 4th most preferred retail destination. The particular geo-political context

of Europe has a significant influence on the preference of retailers.

There are now 27 countries within the newly enlarged European Union, 15 of which

share a common currency (the Euro, introduced in 2002). Within the EU there are

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effectively no barriers to trade or the movement of goods, thereby promoting cross-

border trade and facilitating retailer expansion across the continent.

With a large number of countries in close proximity, the emergence of a 'single European

market' has encouraged many European retailers to move into new countries.

6. ITALY

Italy ranks 5th among the most preferred retail destinations. Italian retailers were found to

be the most international, on average having a presence in 25 countries outside Italy.

This was notably ahead of the next highest country, Spain, whose international retailers

were operating in an average of 19 other countries. To some extent, however, this also

reflects the historic dominance of luxury goods and clothing by European 'haute couture'

fashion houses.

Luxury retailers were the most 'international' of all those surveyed, nearly 90 per cent had

a presence in more than 10 markets, way ahead of the grocery, food and drink retailers, of

which only 60 per cent had a presence in more than 10 markets, and clothing, footwear

and accessories retailers of which 54 per cent were in more than 10 markets.

6. SWITZERLAND

Switzerland, one of the world's most attractive tourist destinations, is also a hot favourite

among international retailers. It ranks 6th in the CBRE list.

Interestingly, while European countries are attracting more retailers, the United States is

ranked at 11, with the presence of only 39% of international retailers.

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According to the report, the maturity, size and strength of the domestic retailers in the US

make it a market that only the strongest foreign retailers are able to break into.

7. AUSTRIA

Austria is the 7th most preferred retail destination. This country has a presence of 42

percent international retailers.

Austria is one of the 10 richest countries in the world in terms of GDP per capita. The

country has a highly developed industry sector and international tourism is also an

important part of the economy. Being a member state of the European Union, it attracts

more foreign investors and global retailers.

8. UNITED ARAB EMIRATES

The United Arab Emirates is a shopper's paradise and the 8th most preferred destination

for international retailers. The UAE has a presence of 41% international retailers.

Retailing in the UAE has changed significantly in recent years, with the emergence of

some of the most high profile retail developments anywhere in the world. One of the

world's largest shopping malls is set to open this year in Dubai. The Dubai Mall spread

across an area of 12 million square feet will house 1,200 stores. This will be much bigger

than the largest retail centre in Dubai, Mall of the Emirates.

9. CHINA

Emerging markets are becoming very vital for many retailers. The booming Chinese

economy ranks 9th, attracting 40 per cent of international retailers.

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While the average consumer spending per capita remains low, in emerging markets, the

level of international retailer presence in these markets is similar to that of much more

developed economies.

The reason is politically and economically, both China and Russia have seen a significant

relaxation of restrictions on investment as they have started to move towards free-market

capitalism; China's commitment to the World Trade Organisation at the end of 2001 saw

a huge influx of retailers into the country.

The sheer size of their markets and strong growth in consumer spending per head (over

10% per annum in China and 7.5% per annum in Russia) also makes them attractive, and

their potential for further growth is clearly significant.

10. RUSSIA

Russia remains a hotspot for top global brands. With 39 per cent of the international

retailers preferring Russia, it is ranked at the 10th position.

Within the primary cities (such as Beijing, Shanghai and Guangzhou in China, and

Moscow in Russia), there is a significant concentration of wealth and it is around these

cities that much of the international retail activity is still centered. This strength of

expenditure, and thus retailer demand (particularly from luxury brands), has seen

Moscow emerge as the most expensive retail destination in Europe in terms of prime

rental values.

Russia is followed by US, Netherlands (38%), Singapore (38%), Belgium (37%) and

Ireland (35%) as the most preferred retail hotspots. Meanwhile, the rapid growth of

emerging markets, emerging middle-classes in India, Russia and China, newer and easier

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marketing strategies make it much easier to develop a global retail brand now. There's no

doubt that this is an exciting time for retailers and consumers as well.

1.3 Indian Scenario:

India

• Area 3,287,590 sq km (2007)

• Population 1.13 billion (2007)

• GDP real growth rate 9.4%

• GDP per capita (ppp)* $3,800

• Unemployment 7.8% (2006)

• Population below poverty line 25% (2002)

• Exports $112 billion

• Imports $187.9 billion

• Exchange rate 39.80 rupees per $ (2007)

• Imports from China, U.S., Germany, Singapore

• Exports to U.S., UAE, China, UK

• Literacy rate 61% (2001)

• Life expectancy 68.59 years (2007)

*purchasing power parity

Sources: CIA World Factbook; www.xe.com. Data are based on 2006 estimates, except where otherwise specified.

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Retailing is one of the largest industry in India and second largest employer after agriculture.

The retailing industry provides employment to over 18 million people. One out of every 25

families in India is engaged in the business of retailing. Ownership and management are

predominantly family controlled. However, in sharp contrast to developed countries, unit average

size of retail outlet in India is very small. It is the tenth largest economy in the world based on

GDP and its growth is forecasted at 7.5 per cent over 2005-2007. The Indian retail sector is

growing at Compound Average Growth rate (CAGR) of 30 per cent over the next five years.

However, the share of modern organized retail sector is likely to grow from its current three

percent to 15-20 per cent over the next decade. Ongoing retail boom is expected to translate into

next eight million jobs over five to six years. The country is rated as fifth most attractive

emerging retail sector and ranked second in a Global Retail Development Index of 30 developing

countries as drawn up by A.T. Kearney.

Unlike most other countries, Indian retail sector is highly fragmented and bulk of the business is

in the unorganized sector (97 per cent) like local ‗wet‘ market vendors, roadside pushcart sellers

or tiny kirana (grocery) stores. In India, the majority of food consumption is still at home.

Nevertheless, out-of-home food consumption is increasing. Traditional local markets and small-

scale retailing continue to dominate India‘s food retail sector. There are an estimated 12 million

retail outlets, of which almost seven million sell food and grocery products. The vast majority of

these are small kiosks (17 per cent), general provision stores (14 per cent) and grocery stores

(called kirana; 56 per cent of all rural retail outlets) run by a single trader and his family. With

more than 71 per cent of the population living in small villages and engaged in agriculture, most

of Indians still do their food shopping at small-scale vendors in the local village, or at large-scale

weekly markets which are often serving several villages in one area, where small individual

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vendors trade. In the towns and cities, most consumers do their food shopping at the local

neighbourhood, independent small retailers, kiosks and street hawkers. Servants in high income

households usually undertake this task (Anonymous, 2005).

Organized retailing accounts for only three per cent in India, whereas it is 85 per cent in

USA and U.K., 75 percent in Taiwan, 55 percent in Malaysia, 35 per cent in Korea and 20 per

cent in China. The growth of retail sector in the country is tremendous both in urban and rural

areas. Organized food retailing is a relatively new phenomenon in India, with small Western-

style supermarkets only starting to appear since 1990s. The country has witnessed a retail

revolution in recent years. Significant development has been taking place in urban areas in the

form of organized retailing - mega stores or malls more so in the south of the country in the

major cities of Bangalore, Chennai and Hyderabad, as well as New Delhi and Mumbai in the

North. It is expected that the tier II cities would take another five years to absorb modern

retailing opportunities. Moreover, the case for Indian retailers to explore rural markets is also

strong due to the size of rural population and agricultural income growth in last couple of years.

The major formats being followed for organized food retailing in India are supermarkets,

discount stores, fresh product outlets, specialty stores, convenience stores and off price retailers.

The organized food retailing sector in India is on the verge of a boom and expected to

undergo further change with prospective new domestic and global foreign entrants and the

takeover or exit of some existing participants. The domestic corporate houses including Calcutta

based Spencer‘s and RPG group, Chennai based Subhiksha and Niligiri‘s, Hyderabad based

Trinethra Group (since 1971), Bangalore based Fabmall, the joint venture between Calcutta‘s

RPG group and the UK‘s Jardine Matheson Group‘s Hong-Kong based subsidiary Dairy Farm

International‘s (now owned) Foodworld supermarket chain, Tatas, Reliance, ITC Group, Lohias-

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promoted Indo Rama, Mumbai-based RK Hospitality, Kishore Biyani with his Big Bazaar etc.,

with its hypermarket and supermarket chains are already in process. The globally fourth ranked

Germany based Metro AG (with two Metro Cash and Carry wholesale stores opened in

Bangalore so far since 2002) and the South African owned Shoprite Group in partnership with a

local investor (with one Shoprite hypermarket opened in Mumbai in late 2004) have already

started operation in India. In addition, the big retailers such as Tesco (UK) and Carrefour

(France) have indicated their plans to enter India once the Indian Foreign Investment Regulations

permit. On November 28, 2006 Wal-Mart, the world‘s biggest retailer announced plans to enter

India in partnership with Sunil Mittal‘s Bharati Enterprises, making a direct entry into the rapidly

growing Indian retail sector (Anonymous, 2006).

International attention is now increasingly focused on the rapidly growing Indian food retail

market. With the removal of quantitative restrictions on imports, Indian consumers can have

access to food from around the world. Market analysts believe that hypermarket will determine

the future of organized food retailing over the short to medium term. Traditional grocers are also

gradually redefining themselves by increasing floor space and introducing self-service format

and value added services such as credit and home delivery (Anonymous, 2004).

Indian retailing industry has seen phenomenal growth in the last five years (2001-2006).

Organized retailing has finally emerged from the shadows of unorganized retailing and is

contributing significantly to the growth of Indian retail sector. RNCOS‘ ―India Retail Sector

Analysis (2006-2007)‖ report helps clients to analyze the opportunities and factors critical to the

success of retail industry in India.

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Key Findings

- Organized retail will form 10% of total retailing by the end of this decade (2010).

- From 2006 to 2010, the organized sector will grow at the CAGR of around 49.53% per

annum.

- Cultural and regional differences in India are the biggest challenges in front of retailers. This

factor deters the retailers in India from adopting a single retail format.

- Hypermarket is emerging as the most favorable format for the time being in India.

- The arrival of multinationals will further push the growth of hypermarket format, as it is

the best way to compete with unorganized retailing in India.

1.4 Key Issues and Facts analyzed

The research report also addresses the issues and the facts that are critical to the success of

Indian retail industry in general & organized retail industry in particular.

- Evaluation of current market trends.

- Profile discussion of key players in this sector.

- Analysis of various challenges and opportunities before the industry.

1.5 Key Highlights of the Report

- What is the market size and scope of the Organized Retail in India and north Karnatak in

particular?

- What and where are the growth prospects and issues related to the industry?

- What are the factors driving growth in this sector?

- Size of organized market segment wise and its growth prospects.

- Who are the major players in Indian Retail Industry, their presence and strategies being used

by them and their market positioning?

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- What are the opportunities & challenges in front of the retailers in India and emerging trends

1.6 Key Players Analyzed

This section covers the key players currently operating in the Indian retail industry including

Future Group, Pantloon Big Bazaar, ABRL, Reliance Fresh, Food World, Subhiksha, Neelgiris,

I.T.C. Ltd, Godrej Agrovert Ltd, and DCM - Hariyali Kisaan Bazaar.

1.7 Research Methodology Used

Research method:

Exploratory research to find out initial problem and to define the problem.

Descriptive Research method used to find out the solution to the defined problem.

Sample:

Unorganized and organized retail outlets of Hubli-Dharwad, Belgaum.

Sampling method:

Judgmental sampling method used with the help of PEPSI companies Rout riding report of

Retailers Data Base of Hubli Dharwad of 1200 of which 500 was chosen for sampling based on :

1. Shop Size 10Feet X 10 Feet

2. Investment in Merchandise more than Rs.50, 000/- per month

3. Outlet selling FMCG (Fast Moving Consumer Goods) of sampling area

4. Retail outlets which are doing business more than six months

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Secondary data: Information has been collected from namely, books, newspapers, trade

journals, , industry portals, government agencies, trade associations, monitoring industry news

and developments.

Primary data collection instrument: questionnaire

1.8 Analysis Method

The analysis methods include the following: Analysis using software SPSS, Chi-square test to

test multidimensional parameters Judgmental Forecasting and Cause and Effect Analysis.

1.9 Karnataka Scenario:

State: Karnataka

Debt position (2006-2007): Rs 53,909 crore (Rs 539.09 billion)

State income (2005-2006): Rs 151,741 crore (Rs 1,517.41 billion)

Per capita income (2005-2006): Rs 27,101

Population (2001 census): 5.273 crore (52.73 million)

Population below poverty line (2004-2005): 25 per cent

Iinfant mortality rate (2006): 48 per 1,000

Chief minister: B S Yeddyurappa

Ruling party: Bharatiya Janata Party

According to the study conducted by the Rabo India Finance Pvt. Ltd. says that South Indian

states of Tamil Nadu, Andhra Pradesh and Karnataka have taken a lead role in establishing

modern food outlets. The growth of organized retailing has shown particular vigour in Chennai

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and Bangalore where an estimated 40 per cent of their grocery requirements were met through

modern retail formats. The study pointed out that media exposure; nuclear families and

emancipation of women are some of the important demographic reasons for the shift in the

decision-making variables from price. The study also estimated that organized food retail sector

is set to expand over ten folds in the next five years to approximately Rs. 75 billion ($1.6

billion). The estimate was based on the assumption that 6 million households would spend Rs.

1000/ per month through organized retail.

Karnataka is one of the leading states in organized retailing in India as there are more than ten

organized retailers (firms) with more than 100 outlets including Metro AG operating in

Bangalore city alone due to increasing urbanization and expanding service sectors like software,

banking, insurance and Business Process Outsourcing (BPO), which has taken a metropolitan

city status more recently has led to increase in income of the consumers. Apart from Bangalore,

cities such as Mysore, Mangalore, Hubli-Dharwad and Belgaum in Karnataka are also growing

rapidly in terms of urbanization, income and organized retailing with local food marketers as

they are converting unorganized retail outlets into organized form because of strong demand for

convenience products; and better educated consumers concerned about health, nutrition, food

safety, and the environment.

As income rose and shoppers sought both convenience and new tastes and stimulation,

supermarkets were able to expand the products offered. The global economy has changed,

consumer demand has shifted, and retailers operating system today are infused with far more

technology than was the case in the past. It was observed that lot of progress have been achieved

in the food retailing in the past decade through organized food stores such as supermarkets,

discount stores, fresh product outlets, specialty stores, convenience stores and off price retailers.

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But still there is a lot of scope for the food retailing. The state is experiencing rapid structural

change with the emergence of huge retail firms with massive buying power and concomitantly

concentration in the manufacturing sector. Hence, an effort was made in the state to study the

entire business aspects of organized food retailing in general and supermarkets in particular. In

addition, consumers study was also undertaken to know the factors to be considered while

purchasing their food products in food retail outlets.

1.10 Presentation of the study

The entire study has been presented in seven chapters. In the first chapter, the importance and

the current status of the present study was highlighted. The specific objectives of the study as

well as limitations of the study have also been indicated.

Chapter I

Deals with the introduction retail scenario in International, India and Karnatak

Respectively.

Chapter II

Deals with the review of the relevant research studies connected with the objectives.

Chapter III

Current Retail Scene: An Overview

International Retail

Indian Retail

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This deals with main features of the study area and the study outlets. The nature and

sources from which relevant data have been collected and the various statistical tools and

techniques employed in the study for evaluating the objectives.

Chapter IV

This chapter is devoted to the analysis of the data through a variety of tables into which

relevant details have been compressed and summarized under appropriate heads and

presented in the tables.

Chapter V

Provides the causal relationship between certain variables and the outcome which they

Produced

Chapter VI

Briefs the summary of the main along with the policy implications that emerged from the

findings of the study.

Chapter VII,

The final chapter lists bibliography the references cited while undertaking

The research.