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Modern Retail —- Sunny Days Ahead

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Achhey Din  Anne wale Hain ………. It’s ringing all across among all sections of the society across the nation due to expectations build up  through the massive , media campaign  unleashed  successfully by  new leaders  during just concluded elections

With the changes in the guard at the  Central Government  already through  ,   positive sentiments  can be  seen  through the bull run  in last few weeks  in  Country’s share market  wherein  sensex have scaled new hights  in all sectors  , along with  the appreciation of rupee and drop in gold prices.

International  Financial institutions   have invested  Billions of Dollars  in core sectors  wherein impact of better governance  is likely to make an impact in near future  . Confidence among the investors is likely to return back slowly and steadily  which was down due to slowing of our economy  because  of lack of decision making and   directions from the top.

Modern Retail is likely to become a sunrise industry  again  in the near future due to the vision of the new leadership  wherein planned development is likely to be announced for  100 cities across the nation and focus  on creating jobs for the youth  through various initiatives  by development of  the infrastructure in many areas. Connectivity between the cities likely to get a fillip due to building of express ways and starting of bullet trains on international models thus making mobility better and faster.

Most of the Indian retailers are seen  refreshing their  plans for expansion in Tier 2 – Tier 3 cities  in view of the forthcoming opportunities of catering to the probable consumers of tomorrow . Many  Leading Retail players in India have announced their  expansion plans and while others are gearing up for the new opportunities on the anvil .

Consolidation and Review has  also become important due to many  categories  like Electronics , Apparel , Footwear  etc are  getting affected due the  phenomenal success of online business which has seen more then 200 % growth in last one year   .  New trends indicate buyer’ s confidence in online buying due to better services provided by them wherein Cash  On  Delivery  , Replacment options and fast /  one day delivery etc are   being  offered to  pamper the  consumers.

Modern Retail is also likey to outperform more so due to the understanding of the new Govt  wherein they  have plans  to remove various layers of middlemen  for handling of the food  sector ,   and  the journey from ‘ Farm to Fork ‘ is likely to get shorter and transparent  for the benefit of the consumers .  New Govt call to amend the   Act, banning of Forward Trading  and building of infra structure for the storage and supply chain for handling of agriculture produce besides investment in food processing  sector  will surely  ushers better days for the consumers as  wastages which are currently at 25 –  30 % of the production  can be reduced  and  Organised Retail sector can play a vital role.

Having said  about the better future of the Retail sector, its also the time to consolidate the individual performances  in house  on the basis of past  dealings and learnings and rework new models to ensure break even in time bound manner . Training of the teams  both for Merchandising and Operations is  very critical for the success of any Retail chains in India  wherein last ten years have seen many new launches and roll outs by leading groups and pack up lately  due to  the lack of understanding about the sector and unavailability of trained manpower  besides  changing consumer  behaviour .

The author is on the panel of for Modern Retail and on the Board of WCSC