Boom Boom Retail

The Indian retail bubble is growing and how.The widely untapped sector and the most unreliable of them all is retail.Well, worldwide it is already an ancient market but in
India it’s very young.Not that it was not an unknown fore, but an uncertain one afar.
India traditionally being a conservative country wherein we purchase what is needed and replenish only after the last one is used.But, this sector became an eye opener to entrepreneurs and business czars alike.Its even part of the case studies in many management institutes as well.Kishore Biyani tested the waters when he came up with the pantaloon retail Shoppe in the late 80-90’s.Even then traders and market analysts were skeptical about this and were vouching for the traditional shop next door philosophy for the Indian consumers.The world was watching. But KB never looked back and spawned shops after shops and opened the First Big Bazaar in
Calcutta and rest is history.The trend started by KB is been packaged and marketed by everyone with money to spin. With multi-facility malls mushrooming in every street and providing all entertainment under one roof, the mall/supermarket culture is here to stay.The impulsive buying syndrome has hit the Indian consumer like no other thing in recent times.Big Bazaar, Central, E-zone are some of the outlets opened under the Pantaloon family.Big Bazaar currently has 29 outlets and counting rapidly. The people who banked on KB are having a ball at the boom.But KB has barely scratched the surface. The opportunity is out there in the open and everyone is trying hard to have a share of the pie that’s retail.Wal-mart will be opening their first outlet by 2008 through a JV with Bharti.Reliance has already opened its store ‘Reliance fresh’ in a few cities on a trail basis, but they have already planned for expansion on a massive scale.Tata, Birla and alike are also getting ready with their foray into the market.

With all these and many more coming in, its glee time for consumers and retailers alike.

 

Retail

 

 

 

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