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"Retail Management": "NCRD'S Sterling Institue of Management Studies"
"Retail Management": "NCRD'S Sterling Institue of Management Studies"
MANAGEMENT STUDIES
RETAIL MANAGEMENT
ASSIGNMENT 4
SUBMITTED BY
OMKAR AVINASH VICHARE
VIKRANT ASHOK PATEL
PAYAL MEHTA
- 37
- 22
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The fact that world is fast dwindling into a universal community for the
reason that of Internet and other communication mediums is not completely
reflective in the Indian context. While developed and fast developing countries
have understood the influence of Internet, India is still ignorant and trying to
deal with up with the technological developments.
The retail industry campaign has been repainted by Internet and the rules of
the game in retailing are fast altering. The western culture has affected each and
every aspect of our Indian Society.
The life is becoming fast not only in metros but also in the normal cities. The
number of nuclear families is increasing and both husband and wife are
working, as they have less time to go to the market for purchasing every now
and then.
Some other reasons like these, say shortage of time, traffic jams, late working
hours, versatility of plastic money and above all the approach of internet at the
door step of whosoever desires it. Online retailers have improved their service
and consumers have found it convenient. There is been transformation in
payment mode as well. From advance payment it is moved to cash on delivery
(COD). Even in case of delivery pattern is changed. From fixed delivery timings
it is moved on to convenient delivery timings at the choice of the customer.
India has opened the doors for foreign direct investment in retail.
1.
2.
3.
4.
5.
TRAVELING SECTOR
E- TAILING SECTOR
FINANCIAL SERVICES SECTOR
OTHER SECTORS
DOWNLOADS SECTORS
- 76 %
- 8%
- 8%
6%
2%
ONLINE SHOPPING:
Currently, the most suitable marketing strategies applicable is internet
marketing because it has been seen that the Indian consumers are buying
products
through
online
for
example
greeting
cards,
clothes,
CELEBRITY INFLUENCE:
Indian consumers looking for quality choose expensive brands as they feel that
price is an indicator of quality. However, in the absence of well-known brands
in selected product range, consumers are likely to take cues from wellestablished retail outlets hoping that these outlets carry quality products.
FREEBIES:
Indian consumer buying behaviour is influenced by freebies. Freebies are
consumer products given free as gifts for purchasing selected products above a
certain value. TVs, washing machines, refrigerators, and readymade clothes are
some of the product categories in which freebies are given to Indian consumers.
ECOFRIENDLY PRODUCTS:
The environmental awareness in India has started affecting marketing of
products based upon their eco-friendliness. In general, Indian consumers are
likely to buy environmentally responsible products and packs. The future key
for marketing could be to select more ethical and ecological responsible
products and packaging, which is also convenient for consumers, thus,
balancing environmental concerns with commercial considerations. Consumers
in India are taking lead in prompting manufacturers to adopt technologies to
produce eco-friendly products.
2.
Rising
middle
class
with
disposable
of the largest
4. User Experience:
AGE,
ECONOMIC
GROWTH,INCOME
AND
EDUCATION :-
1.India
1.Rising
about 250.2 million as of June 2014. The burgeoning, upwardly mobile middle
penetration
of
e-commerce
compared
to
markets
like
UnitedStates and the UnitedKingdom range (including long tail and Direct
but is growing at a much faster rate with Imports) compared to what is available
a large number of new entries.
2.Unique
2.Busy
lifestyles,
urban
traffic
other
payment method. India has a vibrant brick and mortar retail driven by
cash economy as a result of which 80% disintermediation and reduced inventory
of Indian e-commerce tends to be Cash and real estate costs Increased usage of
on Delivery. However, COD may harm online
classified
sites,
with
more
e-commerce business in India in the consumer buying and selling secondlong run and there is a need to make a hand goods Evolution of the online
shift
towards
mechanisms.
online
3.India's
E-commerce
market
was
3.Online
worth about $3.8 billion in 2009, it went portion (87%) of this market today.
up to $12.6 billion in 2013. In 2013, the Online travel market in India is expected
e-retail market was worth US$ 2.3 to grow at a rate of 22% over the next 4
billion. About
70%
of
India's
4.Due
to increasing demand of e-
4.Due
to
this
there
is
business
5.Educational
Risk
of Losing Money:
of product risk:-
Not at all. There is no risk at all because this are the products
which this online sites buy directly from manufacturer so there
no product risk.
Good
Services:-
Yes there is fear but it is only when we buy that product from
fake sides.
After sales services and convenient product return
policy: Because of the competition now a days the online sites like
eBay or Flipkart are giving good sales services like when the
product is defective then they immediately return the product
and give new one.
Others
experience:-
After the study and the opinions by the people they are more
convenient to do online shopping. Less time, reduced cost,
discounts etc.