One of the most awaited knowledge forums of the DoMS, IIT Roorkee started with a bang. The theme of the first fortnight was “Retail Sector in India”.
The session started with a 5 minutes video on history of retail. The video showed the emergence of retail industry since early 19th century in America; followed by the boom in the structure after World War-II due to huge availability of man power and industrial resources. Then it displayed the evolution and dominance of organized retail sector in USA. It also gave the viewers a deeper insight on the evolution and success of online retail business and its future.
The video was followed by two presentations. First presentation was on “Unorganized Retail in India” by Sayantan Chattopadhyay. Sayantan gave deep insights on the sector. It was interesting to learn that the unorganized retail sector comprises 94% of total retail business in India. Important points covered in the presentation were that retail accounts for more than 10% GDP and 8% employment in the country. One of the major strength of the sector is its micro market intelligence. The proprietors know their customer personally and so their demand. Also they fulfil customer’s demand on their request. Personal relation with the customer gives them advantage to speak about product as customer many time asks for proprietor’s recommendation. Buying on credit, loose buying and home delivery are other major advantages in unorganized retail.
Next presentation was on “Organised Retail Sector in India” presented by Shibi Singh. He touched detailed aspects of the sector with SWOT analysis. Starting with the difference between different retail formats like hypermarket, cash and carry and departmental store etc, he discussed key trends in organised retail. Afterwards he talked about investment in organized retail sector covering expansion plans, M&A and Strategic Alliance by companies to develop their market and increase revenue.
The presentations were followed by a Quiz on retail sector. There were 20 questions focusing on general marketing management, stores, owner groups and general questions form retail. (The link to Quiz and its solutions is available on the Quiz tab of this blog). Akshay Rathod and Chandrakanth Nimmala were declared winner with each scoring 16 out of 20.
The first session of MarkiiT, was attended by a strong strength of 35 participants. After prize distribution, agenda of the next session was decided. Next session will be on marketing strategy of different retail stores like pantaloons, the mobile store etc. I believe it will be quite a learning session. Waiting for the next activity...
DoMS 2011-2013
IIT Roorkee
IIT Roorkee
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