The Indian Retail

Retail is the sector which is touching the sky in India and other developing countries. The Indian retail Industry saw a drastic change in it’s grown mainly after 2005. This was the time when the retail in India started becoming more and more organized.

There are various players from huge market players to medium companies which are trying their hand in the organized retail market. The present Indian retail could be categorized under Rural and Urban Retail.

Rural Retail: This option was first taken out by ITC in a mass scale in India. It was kind of a mix and match of a few services which was a revolutionary step in India (I would not go into details as per now) It was a complex structure which centralized everything. There are many companies which are into rural retail now.

The major step in the Urban retail was from Reliance which launched its chain of Reliance fresh with a newer concept of vegetable retail. The company applied such a wonderful supply chain and quality standards that it was even considered as a threat to the traditional vegetable retail market; as an outcome it was forced to be closed in Uttar Pradesh.

If you see the present situation there are many major players in the market from Wallmart with EasyDay to In and Out the the gas station retail outlet, the other players are 24X7, 6 to10 Big Bazar from the future group.

The Indian retail companies use the best of the technology to streamline their processes and get the best out of it. POS (Point of sales) Systems are a very common sight now a days. Using customized RMS (Retail management Systems) various ERP packages SAP packages is a common trend to monitor the whole cycle and have a good control over it. As a result major IT companies are having a gala time implementing these services as the domestic client now has the power to pay.

The retail companies are not only present in the market but are segregating their chains according to the customer’s need. Reliance has Reliance fresh, Reliance retail; Future Group has Big Bazar, Furniture bazaar, pantaloons, Future bazaar and Pluss. The retail is now segregated according to the market segment and is more consumer centric.

As per my knowledge the Indian Retail has a lot of potential which is still to be explored in the coming decade.