May 23, 2006 07:49 PM
2281 Views
(Updated Oct 26, 2006 11:19 AM)
I am just working as a summer trainee in nitco titles and one project was given to me to make a presentation on nitco titles and then traget the retail sector which cmpanies or showrooms are coming up with new projects and then call them and give a 15 min presentaion .Sounds easy but is a tough job ,
Then step by step I started gathering the information and then after a dept study came to know that by 2010 the retail industy is going to boom in india and I am sure by 2020 we would be the biggest retail market all over world.
Lets start with the infrastructure before 1997 it was condition that only 11 km road would be constucted in a month and now within a day we construct 11 km so u can think on what india going to achieve by 2010 .
The retail sector in India is witnessing a huge revamping exercise as traditional markets make way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Western-style malls have begun appearing in metros and second-rung cities alike introducing the Indian consumer to a shopping experience like never before
The retail sector is growing at 8 % and due to which the construction industry also growing at 8% and more over if u see the organised retail sector currently it is just 3 % but by 2010 it would be 20% and moreover the organised sector contributes only 28, 000crore(us$) and by 2010 it would be 1, 40, 000 to 1, 50, 000 crore(us$).
It is expected that by 2010 their would be around 250 malls all over the countryPantaloon recently took up retail space admeasuring nine lakh square feet, taking the total area under its belt to more than 15 lakh sq ft, while Trent has struck agreements for retail space in excess of 1, 00, 000 sq ft. The RPG group has leased around 50, 000 sq ft in Mumbai. These properties are in addition to the existing retail spaces being readied for occupation. Other retail chains including Shoppers’ Stop and Lifestyle are also on a leasing binge.
Retail chains are also expanding their operations to smaller cities, if the current bout of agreements is any indication. Pantaloon has signed up spaces in cities like Lucknow, Bhubaneshwar and Nagpur, while Trent has taken up 25, 000 sq ft in Indore. Expansion plans are underway in metros as well. In Mumbai, Pantaloon has leased an additional 2, 36, 000 sq ft, taking the total retail area in the city to over 400, 000 sq ft.
According to the surve done by kearney india is the no 1 emerging and devloping retail market all over the world. Also now the FDI is allowed a 100% in retail industry main big players have started entering in the retail industy . The bif player like WAL - mart have already started with their project which is expected to be the biggest retail mall in the heart of the city bandra kurla complex.Now the question arrises why the big players inetrsted in indian markets reasons are
1.Availability of quality real estate and mall management practices
2.Consumer preference for shopping in new environment
Thus , to end up with I just want to say if anyone really intersted in going in to retail these is the most golden chance to get into retail markets as the market is booming really fast and is on the growth stage many companies like pantloons , reliance , tata , cafe coffe day , barista and globus shopper stop are going to expand almost double by 2010 .
Guys plz give comments and suggestion most welcome
Tushar
