Month: December 2018

The Indian retail industry is the fifth largest in the world and one of the fastest growing industries in India. The country is considered as the third most attractive market for retail investment in a list of 30 other emerging markets, according to AT Kearneys Annual Global Retail Development Index 2010.

As the retail sector grows bigger and bigger, there is an urgent requirement to bring in new talents familiar with the know-how of this fast changing sector at each and every stage. To cater to the rising demands for managerial manpower by the Retail Sector companies several established B-schools have started Retail specialization MBA courses. These are BIMTECH, KJ Somaiya, Welingkar, and others.

Envisioning to bridge the widening gap between the supply and demand of trained personnel in the retail industry, Future Group also entered the retail education sector in 2009 with Future Innoversity, as part of its Future Learning initiative.

Retail forms the core business activity of Future Group. Its chain of retail stores named Big Bazaar is already a big name in the retail world. Future Innoversity is offering specialized post-graduate and undergraduate programs viz MBA in Retail and BBA in Retail Services.

Mr. Kurien C K, Dean Academics & Placements, Future Innoversity, while talking to MBAUniverse.com, said that this sector offers great opportunity. The scope of the Indian retail market is immense, for this sector is poised for the highest growth over the next few years.

Justifying the boom of the Retail sector, Mr. Kurien C K said, Urban and rural areas are turning into high potential markets with more domestic and international players entering the field and existing ones stepping up their expansion drives. The growth of the Indian economy is manifesting itself in the growing purchasing power of its citizens and this is reflected in the way goods and services are bought and sold.

Observing on how the Retail sector has changed over the years, Mr. Kurien C K mentioned, Modern retailing has entered the retail market in India and is observed in the form of bustling shopping centers, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof.

Stating the scope of the growth pattern of the industry he said, A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working women population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized retail sector. The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph making this sector the next boom industry.

Taking the Decision
If you are planning your career in the Retail Sector, then an MBA in Retail Sector would give you the opportunity to be an expert in the sector and make you a professional from the Day 1 of your career. But you may think whether to go with specialized MBA in Retail Sector or General MBA. If you are keen on a particular sector, such as Retail and you are sure that this is the area you want to pursue your career in, then you will find it easier to take the decision on whether to go for the specialized MBA or the general MBA.

Addressing the issue of general MBA vs. specialized MBA, Mr. Kurien C K stated, Management skills required for different industries are very different and a general management degree does not develop the student for any particular industry. Today employers are looking for freshers who can be effective from day one instead of spending one to two years learning the ropes of the business before they can start contributing. Also a lot of sectors including retail, logistics, health care, education, construction, etc face a huge dearth of skilled manpower at all levels and therefore there is a strong need for more sector specific specialized management courses for cultivating the required skills.

If you are keen to pursue your MBA in the academic year 2011-13, Future Innoversity is still conducting the admission process for the programs MBA Retail, MBA Supply Chain and BBA Retail Services, Certificate Program in Diploma in Retail and Distance learning program for BBA Retail. The session will commence from July 31, 2011.

Stay tuned to MBAUniverse.com for more news and updates from Future Innoversity.

Retail Management aims small and middle retailers in quest of automating their stores. Retail Industry is one of the greatest shifting and vivacious industries in the world. It has added to the economic expansion of many countries. Retail Management is an imperative element of the business industry that engages retail marketing and services to customers for their personal or family use. Retail industry in India rumbled in 80s and within a squat duration of time, retail sector in India has been rated as the 5th most conspicuous, striking and promising retail marketplace in the world. With the incredible augmentation of economy, Retail Management has appeared as one of the best ever mounting careers in India.

The massive development in the retail sector since past few years has unnerved a gigantic demand for trained professionals in the sector. It is an industry in quest of people at all echelons. One can engage in a job depending on ones own ability and interest, in view of the fact that retail industry is an assortment of actions initiating from advertising to branding. This crafts Retail Management one of the most sought after careers in India. Recent retail has penetrated India as seen in rambling malls, complexes and shopping centers proffering entertainment and shopping all under a roof.

Retailing set – up: Comprehensive outlook

Consumer – Centric

Internationally, Retail Management is consumer – centric with prominence on modernization in processes, services and products. The retailing sector in India is at an inflexion peak where the intensification of structured retail and escalation in the utilization by Indians is going to take up an advanced growth trail. The Indian population is observing a momentous revolution in its demographics. A large youthful working populace, nuclear families residing in urban regions, together with escalating working women inhabitants and budding prospect in the services segment are going to be the key expansion drivers of the premeditated retail segment. The association of retailers arrives at every alcove and curve of the country. So any product formed wherever in the country can be effortlessly contacted by the buyers from any place. Thus the spatial expediency of Indian dealers is elevated.

Technology- Concentrated

Retail Management is a ‘technology- concentrated ‘ segment. Victorious retailers nowadays work strongly with their merchants to forecast consumer requirement, abridge lead times, lessen stock investment and thus, save cost. Retailing Management is at a blossoming phase in our country. Nowadays, online systems connect point of – sales workstations to the major workplace where thorough scrutiny on sales by article, categorization, vendor or stores are agreed out online. Besides perceiving what was acquired and by whom, information on placid matters such as psychographics and demographics is taken into consideration.

Retailing method engages an unswerving edge with the client and the harmonization of business actions from the design phase of manufactured goods to its release and post – delivery service. In general, retail industry can be categorized into numerous categories depending on their shape, size, product lines, service proffered and prices charged etc. Some amongst them are supermarkets, specialty stores, malls, franchises, factory outlets, discount stores, chain stores, personal products, lifestyle, groceries stores and furnishing household appliances etc. With the prologue of open economy chased by roar in consumerism in India and enlargement of planned retailing, the souk had immense hope from retail sector both in terms of expansion in business and in generating job prospects. Numerous institutions present Retail Management courses with an optimism to pull towards themselves a great number of aspirants who are enthusiastic to discover their career in the field of retailing.

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Landmark Outlet Gurgaon– Landmark Retail Shops Sec 67 Gurgaon

About The Outlet Park (The Project):
Landmark Group launched the most preferred retail hub of Gurgaon by leading brands-Landmark The Outlet in Sector 67, Gurgaon. Landmark The Outlet provides support for integration of retail stores, coffee shops and fast food joints. This retail hub is based on the open market concept for high footfall with low maintenance cost.
Landmark The Outlet is a state-of-the-art though less expensive commercial location which is a three story low-rise structure. This new age retail structure is available with full power back up, round the clock security and ample parking space. The design provides seamless movement right from basement parking, to ground level drop-offs through high speed elevators.

Landmark The Outlet-Key Features & Amenities:
Designed by Christopher Charles Benninger Architects
100% exclusive premium retail stores
Low Rise structure ground+2 floors only
Low maintenance open retail environment with high footfall
Elevators and Escalators to facilitate the movement
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100% power back up
Provision for split air conditioners in every unit
Well connected to sector roads on Golf-Course Extn. Road Gurgaon
Surrounded by posh residential and commercial developments
Dedicated signage areas for all units as per design and size.
Payment Plan
Ground Floor-INR 14500/-
First Floor- INR 12000/-
Second Floor- INR 10000/-

About Landmark Group (The Developer):
Landmark was born with a vision. A vision to turn ideas into landmarks. As one of the fastest growing groups in realty, the organization focuses on delivering the finest in quality. With its ISO 9001: 200 certification, the company has proved its mettle in meeting the quality standards and delivering commitments. It has consistently set quality benchmarks in property development through its residential, retail, commercial and hospitality landmarks. Its innovative ideas are always technology focused.

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Online retailers are facing dramatic changes and they need to respond quickly if they are to survive. That’s the conclusion you can draw from research showing just how much shoppers are in control. The study from the consultancy firm PwC should be a wake-up call to online retailers as it reveals some stark messages.

For one thing, the study has found that the majority of online shoppers only buy from fewer than five websites. Indeed, 46% of the 15,000 people in the study only shop at one online retailer. In other words, the vast amount of online purchases are being concentrated into a handful of leading stores. That should come as no surprise. With Amazon, for instance, raking in around $1bn ever four to five days it dwarfs retailers like the world’s biggest online fashion store, Asos, which managed to produce an income of around $1bn but only in 12 months. Even so, Asos itself then dwarfs other fashion retailers online. However you dice and slice the data, most online retailers are not doing well; they are only producing tiny amounts of trade compared with the giants of online shopping.

We need to ask ourselves why this situation exists. After all, the standard mantra of “online success” is that if you create a niche, a tiny niche at that, people will flock to you. The data suggest the opposite – that people are flocking to the generalists, like Amazon.

The reason is revealed in the PwC study. It’s mostly about trust. Some 86% of people in the study cited trust as the most important factor in a retailer. With the majority of people shopping at a few online retailers it is clear that these are highly trusted companies. One reason other online retailers may not be doing so well is because they have not demonstrated enough trust.

Trust is established when a company delivers the right product at the right price to the right person in the right way. Good old-fashioned marketing. Many online stores fail at several of these hurdles. They do not deliver the right product. They push products inappropriately. They have poor logistics systems in place. In other words, trust begins with having a solid business in place. Far too many online retailers are simply trying to “cash in” on the web wave without actually putting proper business systems in place – leading to lowered levels of trust.

However, trust is also established in another way – by demonstrating expertise. Amazon, for instance, is an acknowledged expert in online retail. Their shopping experience has inspired many other online retailers to offer something similar. You cannot move on the web for articles about creating a store like Amazon and the company even produces systems, like Amazon Web Services, which other retailers rely on. Throughout the web, Amazon has shown it has extensive knowledge about its “world”. Shoppers – even subconsciously – see this extensive knowledge and influence and this increases their trust. We trust people more when we believe they know a lot about something.

The PwC study also demonstrates how important knowledge and influence is. Shoppers said that they expected retailers to have a compelling story to tell. In other words, they don’t just want an online store – they want to shop from retailers who know lots and spread their knowledge widely. Asos was one company that discovered when it launched a magazine and blogs that sales went up. People start to trust you more when you don’t focus on selling but instead offer compelling content.

It all suggests that shoppers are driving change. If retailers do not respond by increasing trust and by demonstrating great knowledge the stranglehold of the main online retailers will merely strengthen. The PwC study should be a warning shot to online retailers – improve your business, gain more trust and fill the web with your stories and you will do well. Simply run a shop and you will be out of business before long.

Image recognition technology has converted the world into a shop window. According to new market research, this is most likely to have the highest impact on retail sales. Advance technologies like store based technologies, interactive television, smart devices, and augmented reality along with image recognition will play a significant role in reshaping the retail environment. These technological innovations are riding the crest of both online and mobile shopping. And the latest phase of these unique technologies will hit the retail sector like never before.

It is very important to understand the changes going on in the retail industry to determine the impact of these innovations. In fact, many of the leading online and mobile shopping retailers are now mapping new tech trends to explore and understand their impact in the retail and m-commerce industry. Almost all the studies revealed that image recognition is one of the standalone technologies that have the potential to have the highest impact on retail sales.

Image recognition technology allows mobile apps, software and systems to identify customers based on their facial features. Additionally, it can recognize products or objects based on their attributes. One of the biggest advantages of this technology is that it makes easier for customers to experience and interact with products.
This technology is geared towards providing a more personal experience to the buyers. It allows the systems and software to react to an individual on a personal level. Buyers can simply sit down in front of a computer device to enjoy a fully personalized online or mobile shopping experience. The technology empowers devices and websites to become intuitive, allowing them to react in a unique and engaging way. Better still, image recognition technology has the potential to improve customer safety by making online transactions more secure. As a result, this technology is becoming invaluable when it comes to the security perspective of online and mobile shopping.

From product perspective, image recognition technology will help customers with visual product searches by simply pointing their device at the product image. Consumers can find and scan their chosen products easily and effortlessly. This will further blur the lines between online/ mobile shopping and high street shopping. Thus, it is making the whole world a shop window for buyers. Static product images on catalogs, billboards, newspapers and magazines can come to life and provide a direct link to the retailer location or online site. And all these can be achieved by using the camera of your smartphone or tablet.

Considering the various advantages of image recognition technology, many of the brands and online/ m-commerce retailers are using this emerging technology to make shopping more interactive. In fact, brands and retailers are creating more number of augmented reality apps using this technology. Consumers need to simply take a picture of the product and the app will match the photo referring to their database and provide all required information to help consumers make their purchase decision.

Emerging technologies like image recognition can create enormous opportunities for retailers; however, their real advantages are yet to be fully realized.