Advantages And Disadvantages Of Modern Retail

The retail business in India is approximately $470 billion. Out of this the Modern retail is around $26 billion or 6% of the total retail industry. The modern retail as of today is projected to reach $1.3 trillion in another 5 years with the retail market in the organized sector expected to grow to $107 billion every year i.e. at a rate of 40%. We can see that entry of retailers in different types or formats of outlets including online stores will have an irreversible change in the consumer buying pattern and also the industry overall. On the other hand, unlike numerous other countries, India posses a distinctive character of size, diversity, multiplicity of formats, demographics and geographical spread. Retailers today are faced with the problem

The estimates say that in the next three years, the modern retail format of outlets would have close to 19% share of the totalretail marketing. If we look at some of the consumer product companies we see that modern retailers today contribute close to 10% of their total sale though out the country and more than 20% in the metro cities. The most excellent result of thegrowth of modern retail formats in India is a boost of alternatives among customers. With thebeginning of modern retail formats in the up-and-coming marketplaces, we have observed growth in the areas of technology and superior quality levels of produce, competitive pricing techniques and also a number of employment

Posters and placards can be used to direct attention. Once the customer is through the door, you have a chance to make a sale. A successful retail store puts all of these factors together.

Merchandise displays generally take one of several basic forms:

 Storefront Window Displays— These typically open on to a street or shopping mall walk or courtyard and are intended to attract passerby that might not otherwise enter the store.

 Showcase Displays— These typically feature items that 1) are deemed to be too valuable for display in storefront set-ups, or 2) are niche items of high interest to the business 's primary clientele. These display centers are usually located in high traffic areas and typically feature multiple tiers for product display and a sliding door on the clerk 's side for access.

 "Found-Space" Displays—This term refers to product presentations that utilize small but nonetheless usable areas of the store, such as the tops of product carousels or available wall space.

Storefront window displays and "found space" displays are particularly popular tools for publicizing and selling sale items.

The effectiveness of these cornerstones of merchandising display strategy can be increased by remembering several other tips as well, including the