History Of Retailing In Retail Industry

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CHAPTER 1: Industry profile: Retailing consists of the sale of merchandise or goods in a very fixed location, such as a departmental store, boutique, or by mail, or individual lots for direct consumption by the consumer.Retailing may consist of subordinated services, such as delivery, purchasers may be businesses or individuals.In commerce, a “retailer” purchases the goods or merchandise in a large quantities from manufacturers or importers, through wholesaler or directly, and then sells smaller quantities to the end-user or to consumers. Retail establishments are in the form of shops or stores.The retail is nothing but the “break the bulk”, where it consist of the end of supply chain. Manufacturing marketers always see the process of retailing…show more content…
GROWTH IN THE GLOBAL RETAIL MARKET: The convergence of market forces has created an extremely complex, climatefor the global retail industry. Here, retail sector is challenged by its lack of ability to grow and maintain profit margins as a result of a constrained operating environment, market maturity and situation.According to the MVI (Management Venture Inc) in 2007 found that modernizing retailers need capabilities in six core areas to succeed in the changing environment. Today retailing is a main key driver of the global economy and has become a fundamental part of our lives. Of the world’s 10 biggest retail companies, six are from the US and four are from Europe. These top ten companies have had collective sales of $978.5 billion in 2007, according to international consulting group,…show more content…
Unorganized retailing sector compose of the local kiranas, the venders on the pavement, hand craft etc.Unorganizedretailing is still the strength/force of the Indian retail industry contributing to over 95 percent of total retail revenues.The organized sector is like hand trading undertaken the licensed retailers who have registered themselves to sales as well as income tax. They comprise of corporate backed hypermarkets and retail chains.This kind of modern retail has entered India as seen in wide-ranging shopping centers, multi-storeyed malls and huge complexes offer shopping, environment and food all under one

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