Literature Review Of Literature In Retail

Review Of Literature:
Gupta (2007) is of the view that with the changing socio-economic scenario of India, the dynamic of retail have also undergone a sea change. Product, place, price, promotion, people and process play important role in retailing. On the other hand, physical evidence is one aspect that does not need any emphasis at all due to changing consumers’ mindset. As per the study, there are number of elements that characterize the retail industry in India and these are as follows: (i) It is a people-centric industry. (ii) A highly service-oriented sector. (iii) Demand drivers are more location specific. (iv) When there is a holiday or festival for the general public it is peak time for retailers. 
Goyal and Aggarwal (2009) opine that

Their key interests include getting product ideas or meeting friends. They also view shopping from emerging retail formats as a means of diversion to alleviate depression or break the monotony of daily routine. In addition to this, they also go shopping to have fun or just browse through the outlets. The study by Satish and Raju (2010) throws light on the major Indian retailers that highly contribute to the retail sector in India. Pantaloon, Tata Group, RPG Group, Reliance Group and A V Birla group are some of the major Indian retailers. The study by Mishra (2008) expose that mall space, demography, rising young population, availability of brands, rising retail finance, changing lifestyle, modern retail formats and foreign direct investment are the strengths and opportunities for modern retail model. On the other hand, real estate cost, improperly developed mall, lack of skilled personnel, underdeveloped supply chain and taxation hurdles are the weaknesses and threats for modern retail formats. the study by Ali and Kapoor (2010) indicate that a higher income and educational level of consumers influences their decisions on product and market attributes while gender and age seems to

Organized retail stores put stress on proper infrastructure like well maintained building, air conditioning, trained employees, electronic machine, parking facilities and proper display of goods category wise. Here customers feel comfort, joy and entertainment. Purchasing becomes joy for him. Self-selection saves time and gives more opportunities and satisfaction. Fix cost removes the threat of misleading. They avail various discounts and promotional schemes presented by the manufacturers. They also get product of different varieties and of proper quality. 

3. Unique Feature Of The Store:
Organized retail provides brands much needed visibility and platform for customer interaction. It also helps in launching of new product or product variant and in market penetration. It has wider product range and more frequent, speedier deliveries. 

4. Promotion:
Increase in the number of retail outlets increases competition among these retailers. To attract customers they give various promotional schemes as various discounts, buy one get one free, another product with any particular product, festival special, etc. 

5. Launching New Products And Services:
Consumer behavior is changing, and constant innovation of products and services from retailers is required as a result.
6. Backward