Retail & India
In India retail is still at a very early stage. Most retail firms are companies from other industries that are now entering the retail sector on account of its amazing potential. India continues to be the top destination for retail development and investments. It is expected that the retail market will increase from current USD 350 billion to USD 635 billion by 2015. 300 new malls, 1500 supermarkets, and 325 departmental stores will add to the organized retail space.
In the past decade, international companies entering India (Levi’s, Pepe, Tommy Hilfiger, Marks and Spencer, Mango) have generally offered moderately priced to expensive items. The phenomenal success of Big Bazaar, Pantaloons version of Wal-Mart, is proof that there is enormous potential in providing products and services to this class of consumers.Indians are very curious by nature and will try everything at least once before rejecting it. The initial success of KFC in India proved that Indians could make a success of most new ventures entering India.
GROWTH OF RETAIL IN INDIA
What you need to do
Globalization of the economy has exposed the Indian consumer to a gamut of products and brands. “Quality of life” is a buzzword with the Indian consumer today. As a result, international brands of lifestyle products are increasingly making their presence felt in the Indian retail scene as Single-brand Stores..
The Indian Retail Sector is booming and mall growth is being seen as a clear indicator of the economic prosperity in India. These shopping cum entertainment options are getting bigger and better, sporting multiplexes and food courts to woo shoppers.
The pharma retail sector in India, so far dominated by unorganized players, is expected to see a shakeup and consolidation soon. Big retail chains and other organized players have invested long term in it and are going about changing the business landscape.
The report details plans of the big players in the market, consolidation being an important element. Pharmacies are also moving towards offering a wider range of holistic services to serve a more demanding clientele. They are tying up with hospitals and diagnostic centers to offer value added services to their patrons. In turn, hospitals and diagnostic centers are planning retail forays too. Educating the customer is going to be another area that the industry will focus on Major Pharma Retailers are Medicine Shoppe, Apollo Pharmacy, Reliance Retail, Himalaya, Fortis, Guardian, Health & Glow, MedPlus, Trust, Dial for Health.
Retail market and Delhi
Delhi, a modern cosmopolitan city, is the best example of a multi-ethnic and multi-cultural society with an ever-expanding economy. Being the capital city, it has an affluent population comprising a cosmopolitan mix from across the country.Delhi is ranked as the second largest market in the country in terms of size and socio-economic profile and it's steadily increasing quality of life, a booming economy and consumer market makes it one of the hottest destinations for Retail segment.Traditionally, Delhi has been one of the leaders in retail activity in the country. Several large retailers first opened shop in the capital city.The cash-rich Delhi population is an ideal market for high-end retailers and this explains the presence of all the premium brands, including Marks & Spencer's, Lacoste, Louis Vuitton, Nike, Reebok, Wallmart, and McDonald etc in the city. Almost all Indian retail giants are present in the Capital and looking at expansion.
The traditional prime retail areas in Delhi, including areas like Connaught Place, South Extension, Greater Kailash, and Vasant Kunj would continue to command high prices due to lack of fresh supply.Taking the advantage of shortage of retail space in Delhi, many private developers have come up with new retail projects in South and North Delhi. Saket District Center the prime retail mall Select City Walk, MGF Metropolitan, DLF Place and Square One have already started attracting major foot falls and they cater high end societies in the south and Pitampura's Netaji Subhash Chander Place have started catering mix of high end and middle class societies in North and West Delhi.
Retail and NCR (National Capital Region)
Retail expansion in the National Capital Region (NCR) is primarily being planned in the new malls. An estimated 75 malls would be in placed in NCR, all this development is taking place, keeping the rising demand for real estate by the retail brands. Retail industry is set to grow by leap and bound by 2010.
It is Gurgaon that has initiated organized retail boom in Delhi and NCR in the form of malls. Major retail brand presence is along MG Road in Gurgaon and now it has started spreading across Golf Course Raod, Sector Roads, Sohna road, DLF Phase V are next in the row. Concept of specialty malls was first introduced in Gurgaon, a few malls such as The Gold Souk has already come up which houses around 70 retailers and another The Wedding mall on Sohna Road which will house everything from trousseau to event managers and jewellery.
In Noida, Sector 18 is the hub of retail activity. Besides the 3,50,000 sq ft Center stage Mall and Unitech’s Great India Place, which are now operational give immense bump in terms of footfall. Presence of retail giants like Benetton, Adidas, McDonald's, Papa jones, Madura Garment, Bata, Provouge, Levi's and Reebok makes it imperative for other brand to set up their base at the same place.
NCR Retail market places
- Connaught Place : Inner Circle, Outer Circle, Radial, Janpath.
- Vasant Kunj / Vasant Vihar : Promenade, Emporia, Vasant Square Mall (UC), and Ambimall.
- Saket : Select City Walk, DLF Place, MGF Metropolitan Mall, Rasvillas and Square one.
- Jasola : DLF Towers, Elegance Tower, TDI Centre, Salcon Aurum, Corporate One, Omaxe Citadel, Splendor Forum.
- Rajouri Garden : MGF City Square, TDI Mall, Today's West Gate Mall.
- Shalimar Bagh : DT City Center, MGF City Square.
- Mayur Vihar : The Galleria.
- G.K II : DLF Savitri, JMD Kohinoor.
- Rohini : Metro Walk Amusement Park.
- Capitol City Mall : Paschim vihar (under construction). Parsvnath Mertomall at Inderlok, Shahdara, Tishazari, Pratap Nagar, City Center Seelampur, Mertomall Seelampur, Cross River Mall (Shahdara), MGF City Mall (North campus).
- Netaji Subash Place Pitampura : Pearls Omaxe, Woman's Mall/North Square Mall, PP Buildwell, Krishna Apra and Metro mall.
DLF Mega Mall, MGF Metropolitan Mall, Sahara Mall, Central Plaza, DLF City Centre, Ambience Mall, Gold Souk, MGF Plaza, MGF Mega City, The Galaxy Mall and many more are under construction.
CentreStage Mall, The Great India Palace, Spice World Mall, Supertech Shopprix Mall, Sab Mall.
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