Or rather, when retailers get eccentric, innovative retail formats result. And it’s happening right now...
R
etail’s the buzzword, and this doesn’t come as a surprise to many, especially considering that much water has fl own below the bridge since organized retail found favour in the eyes of the policy makers. However, what can surprise many are the progressive transitions in the models of retail formats sprouting across the nation. Sure enough, with the titanic Rs.9.3 trillion retail market (estimated by CII) galloping ahead at full throttle & with FICCI further extrapolating that speciality formats would command a magnificent 22% of the total retail market by 2010, the whole exercise of alluring customers appears strategically sound. Kishore Biyani, MD, Pantaloon Retail India Ltd. (PRIL) while explaining transitional power of modern retailing formats to B&E stated, “In another five to six years there’s going to be great and radically progressive change in the format of retailing, which is going to change the consumer’s definition of shopping.”
For Complete IIPM Article, Click on IIPM Article
R
etail’s the buzzword, and this doesn’t come as a surprise to many, especially considering that much water has fl own below the bridge since organized retail found favour in the eyes of the policy makers. However, what can surprise many are the progressive transitions in the models of retail formats sprouting across the nation. Sure enough, with the titanic Rs.9.3 trillion retail market (estimated by CII) galloping ahead at full throttle & with FICCI further extrapolating that speciality formats would command a magnificent 22% of the total retail market by 2010, the whole exercise of alluring customers appears strategically sound. Kishore Biyani, MD, Pantaloon Retail India Ltd. (PRIL) while explaining transitional power of modern retailing formats to B&E stated, “In another five to six years there’s going to be great and radically progressive change in the format of retailing, which is going to change the consumer’s definition of shopping.”For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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