1. Preference of Customers towards retail outlets 38% customers prefers unorganised retail shopping while 26% customers prefers organised retail shopping but 36 % customers are still not sure .
2. Customers preferences towards the retail stores for purchase of daily groceries 38% customer’s purchases daily groceries from local kirana stores while 24% customers shop from Supermarkets, 22% customers from Convenience Stores and rest 16% Customers prefer Payday Loans Online
Hypermarket. Thus, highest percentage is still with local kirana stores however the difference between supermarket and local kirana is less.
44% Customers visit fortnightly to the malls for various different purposes, 32% customers visit weekly, 18% monthly and rest 6% Daily visiting mall
Purpose of visiting malls
32% Customers visit mall for Shopping while 36% visits for Entertainment and rest 34 % visits for Window shopping. During the survey, I got straight forward Purpose of visiting Malls Shopping, Entertainment, and Window Shopping
5. Customers satisfaction on the basis of price strategy adopted by malls 64% Customers are satisfied with the pricing strategy of the malls after considering various discounts, sales and other offers, while 36 % Customers are not satisfied. Customers Preference for Best Shopping Deals
It was found 64%consumers finds best shopping deals in malls with various Discount offers, gift packages etc. 28% customers are satisfied with the shopping deals served by the local kirana stores while 8% customers has no opinion.
48% consumers declared an increase in spending 28% indicated a decrease and rest 24% no change. Thus the arrival of organized retail has enhanced spending in general. The reasons indicated for higher spending have been mainly the purchase of larger quantities due to wider range of products, availability of attractive offers like discounts and promotional schemes, and access to better quality products with higher price.
7. Impact of organized retailing on spending
The key finding of the research is as follows:
1. Unorganized retailers in the vicinity of organized retailers have been adversely affected in terms of their volume of business and profit. Unorganized retail has maintained employment levels perhaps as a result of competitive response.
2. The adverse impact on unorganized retailers tapers off over time.
3. The major factors that attract unorganized retailers to consumers are proximity, goodwill, credit sales, bargaining, loose items, convenient timings, and home delivery
4. There is clear evidence of a competitive response from traditional retailers who are gearing up to meet the threat from organized retailers.
5. Consumers have generally gained with the emergence of organized outlets through the availability of better quality products, lower prices, one-stop shopping, choice of additional brands and products, family shopping, and fresh stocks. Lower income consumers have saved more from purchases at organized outlets.
These results are not indicative of the countrywide scenario. For the country as a whole,
unorganized retail is growing at a reasonable rate and will continue to do so for many years to come.
Yet it is clear that the growth in demand for retail business is likely to substantially exceed any possible supply response coming exclusively from the unorganized retailers. India is at the crossroads with regard to the retail sector. Several emerging market economies have gone ahead and reaped the benefits of modern retail. India is however a latecomer to organized retail expansion and the picture still remains unclear as to its future direction. The study advocates a balanced approach to retail and suggests that the government plays a major role in shaping its future course. There is no doubt that traditional retail has been performing a vital function in the economy and is a significant source of employment. However, it suffers from huge inefficiencies as a result of which consumers do not get what they want. In contrast, organized retail provides consumers with a wider choice of products, lower prices, and a pleasant shopping environment.
The concept of retail is primitive in Indian context. we had kirana stores, medical stores and lot many other stores working surprisingly well all over the country. Recently with the entrance of big players like Walmart or Reliance, people are getting idea of the traditional stores going to be vanished. But just to remind us, we should never forget how deep rooted is this old concept. The very modern organised stores have taken the idea of retailing nowhere else than from these old shops.
The survey concluded that India’s organised and unorganised retail sectors can co-exist and flourish. The growth in the Indian organized retail market is mainly due to the change in the consumer’s behaviour. This change has come in the consumer due to increased income, changing, lifestyles, and patterns of demography which are favourable. Now the consumer wants to shop at a place where he can get food, entertainment, and shopping all under one roof. This has given Indian organized retail market a major boost. While on the other hand the traditional stores are shops where the various product available are the range of product really required by the customers. They cautiously take care of the choice of the customers and bring the product which is demanded by them. They try to satisfy them with the wide range and at the same time maintain a good relationship to retain them and consequently convert them into their loyal customer. The shopkeepers keeps latest products to their stores and then learn how is it actually affecting the sales of products Although there stores have comparatively less product range the selection made is quite relevant. Having looked at the features let us find the loopholes. However good is the ambience and wide is the product range, when it comes the selling price of the various goods, traditional shops are always more efficient than these newly evolved stores. These retail shops lacking the interaction with the customers have miserably failed in building base with loyal customer. No matter how much the companies talk about CRM (customer relationship management), when it comes to the implementation they endeavour it only through the discount sales driven by their profit motive. Thus, in India it is quite doubtful that the organised retail will be ever able to overcome the unorganised retail completely. The values, culture and beliefs of the customers prompt them to go the same retail shop where they can get the product required, at low price and with least waiting time for billing. No matter how lucrative is this sector and how
bright is the market; the organised sector in retailing has to go a long way to understand the customer requirement.