However, the face of the Indian retail industry is changing. India is passing through a retail boom today. A number of changes have taken place on the Indian retail front such as increasing availability of international brands, increasing number of malls and hypermarkets and easy availability of retail space. With the Indian government having opened up the doors for FDI, the entry of foreign retailers into the country has become easier. India has come a long way from the traditional Kirana stores and is on its way to becoming a ?mall country?. The emphasis has shifted from reasonable pricing to convenience, efficiency and ambience.
The major factors fuelling this change are the increase in disposable income of the people, improving lifestyles, increasing international exposure and increasing awareness among the customers. India has a large middle class as well as youth population, which has contributed greatly to the retail phenomenon. The middle class is considered to be a major potential customer group. The youth are perceived as trend setters and decision makers. Tourist spending in India is increasing, which has also prompted the retail boom.
Food and grocery are the two categories in the Indian retail sector which offer the most promising opportunities. Apart from this, the other areas where there are vast possibilities for Indian retailers are jewellery, apparel and consumer durables. Indian retailers are also trying to create a niche for themselves in areas such as books, gifts and music.
The Indian retail industry is going through a period of golden sunshine.
Fibre2fashion discusses on certain issues concerning the Indian retail industry with Mr. Andreas Gellner, Managing Director, Adidas India:
Mr. Gellner, expressing his view on the present scenario in the Indian retail sector, states that by now, it is fair to assess that the outlook is very bright, but currently, the potential and dynamics are somehow overhyped. Undersupply of suitable spaces and manpower have driven both critical cost components to levels where it is very difficult for many retailers to make profits (not to talk about generating funds for further expansion). The service tax on rentals, of course, was the final blow to many profitability models.
He went on to further state that the long-term future is very promising, but the next few years will remain extremely challenging. While speaking about the current mall culture in India, he believed that the malls as places to congregate and spend time for shopping and other activities have been well accepted.
Copyright ? 2007
Analysis Of Retail Industry
Ever wondered when the first barcode was put to use? Have you ever questioned how long we have been using the barcode as a security tool in the consumer/retail industry? Barcodes are an essential part of securing and identifying a product, since its first uses their appearance and functions have not changed a great deal. However, they have become furthermore secure, with retail industries clamping down on anti-theft crime.
Specialised label printers were built to print the barcodes out making it easier to attach them to the products. They were also used to print onto the packaging, which can be an expensive process. Barcodes made it easier for retail shop owners to monitor how much stock they had left and reduced the number hours spent on keeping track of how much was sold. This also provided a more accurate way of monitoring shoplifters.
History
Before the invention of label printers, barcodes and scanners, shopkeepers of the 1930s had no choice but to spend at least once a month counting up all bags, cans, packets of goods making a note of how much was sold and calculating the figures in correspondence to the stock numbers. This was a cumbersome job and often shopkeepers would estimate the number of stock available.
This was of course inaccurate crude judgement; therefore, a desperate need for a new system was in demand. Wallace Flint, a business student at Harvard University of 1932, wrote a master's thesis, which described a new system whereby customers selected their products from a catalogue that had hole-punched cards beside them, which they could tear out to take to the till. They would then insert the card into a specially designed reader machine, which would then produce the products to the customer through a conveyer belt system.
However, this system was flawed, as the machinery itself was extremely expensive and difficult to build. In theory, the system would have worked, but the truth of the matter was that no retail business could afford this equipment. Therefore, the first steps towards barcodes finally came to action in 1948.
The head of the food industry had pleaded with the dean of Philadelphia's Drexel Institute of Technology to undergo research in automatically reading product information through the checkout. Bernard Silver and Norman Joseph Woodland, graduate students at Drexel, began working various prototype codes and labelling.
The main problems of coming up with a solution was expense, materials and installation. During the 1940s, 1950s and 1960s several formats of the barcode was invented which included the numeral code and bulls-eye code. It would not be until 1973 that the industry standard codes were chosen, UPC. This was implemented in all retail stores, thus popularising the barcode system.
Today with the advancement of computer technology and the invention of improved label printers, the barcode is a prevalent source in almost all retail stores. These are also applied to military and industrial applications. Many companies have developed and generated software that can manipulate bar coding. With this in mind the bar coding system will one day be replaced as technology further advances, but for now they remain the primary use for the retail industry.
Both Fibre2fashion & Anna Stenning are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Anna Stenning has sinced written about articles on various topics from computers and the internet, Management and Wedding Gifts. Anna Stenning is an expert on label printers and barcode, having worked in the retail industry before. For more information visit. Anna Stenning's top article generates over 4090000 views. Bookmark Anna Stenning to your Favourites.
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