Merchandising and Supply Chain Management Unit 1

Unit 1 An Overview of Retail Industry

Structure
1.1 Introduction
Objectives
1.2 Meaning of Retailing
Growth of retailing in the world and India
Scope of retailing
1.3 List of Indian Retailers
Functions of a retailer
Factors for the growth of retailers
1.4 Two Important Pillars of Retail: Supply Chain and Merchandising
1.5 Summary
1.6 Glossary
1.7 Terminal Questions
1.8 Answers
1.9 Case Study: Pizza Hut

1.1 Introduction
Retail is the practice of linking the manufacturer with the end customer. The
manufacturers develop the products, which go through the supply chain
process, and finally reach the retailer who sell these products to the ultimate
consumer. Retailing is the process of selling a product or a service to the
end customers for their personal use. It matches customer’s demand with
producer’s supply.

A retailer may be:

 a person,
 an agent,

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 an agency, or
 an organisation.
When a manufacturer like Dell Computers sells directly to the end customer,
it also performs the retailing function. Therefore, any entity that sells to the
final customer, whether it is a manufacturer, wholesaler, or retailer, performs
retail operations.
Often, it is assumed that retailing involves only the sale of products in a
store. It is immaterial whether the goods or services are sold in person, via
mail, telephone, internet, in a store or outside, on the street, or in the
customer’s home itself.
Retailing is not only the sale of products but also of services. A retailer sells
products or services or both (products and services) to customers for their
personal use.
Retailers try to satisfy customer’s needs by offering the right product, at the
right price, at the right place, and in the right quantity as desired by the
customer. They are the middleman, who links the manufacturers and the
consumers.
In this unit, you will understand the meaning of retailing. You will also study
about the growth of retailing in world and India. Subsequently, you will
become familiar with the scope of retailing in developed and developing
countries. The unit also provides the list of Indian retailers. In addition, you
will understand the functions of retailers and the factors responsible for the
growth of retailers. In the end, you will learn about the two important pillars
of retail, namely Supply chain and Merchandising.

Objectives
After studying this unit, you should be able to:
 define retailing
 discuss the growth of retailing in the world and India
 list the Indian retailers
 state the functions of a retailer
 identify the two important pillars of retail: Supply chain and
Merchandising.

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1.2 Meaning of Retailing

Retailing is the activity of selling products and services to consumers.
According to Philip Kotler, “Retailing includes all the activities involved in
selling goods or services to the final consumer for personal, non-business
use.”

The individual or organisation performing the retailing function is known as

retailer. According to Kotler, “A retailer or retail store is any business
enterprise whose sales volume comes primarily from retailing.”

Retailing also refers to the activity of buying products or services in large

quantities and selling them in small quantities. For example, a convenience
store would purchase boxes full of soaps in units of two dozen boxes.
However, it sells it in single-tin units to the customers. This activity is also
known as retailing. The retailing can be performed by any organisation,
whether it is classified as a retailer or not. Thus, retailing includes all the
activities required for marketing and selling the products to end customers.
For example, Nike manufactures a wide range of products, including athletic
footwear, apparel, equipment and accessories, and also sells them to end
customers through Nike stores.

Retailing is not only concerned with the selling of tangible products, but also
intangible products or services. For example, restaurants and hair dressers
sell their services to the end customer. Thus, they also perform the retailing
function.

1.2.1 Growth of retailing in the world and India

Do kirana shops and retail outlets near your locality contribute to the world
GDP? Kirana shops and retail outlets are the different forms of retailing.
Surprisingly, these small stores also contribute significantly to the world
economy.

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Retailing has become one of the largest sectors in the global market. In
developed countries like the United States (US) and the United Kingdom
(UK), retailing is considered as one of the most prominent industries.

The retail industries in developed countries like India and China have
saturated, prompting the retail giants to enter new markets.

Retailing has evolved over a period of time. The contemporary retail came
into existence in three successive phases. The first phase took place in
early to mid-1990s in South America, East Asia excluding China, North
Central Europe, and South Africa.

The concept of organised retail came into existence in mid-to-late 1990s in

Mexico, Central America, South-east Asia, and South Central Europe. This
was the second phase of retail industry evolution. The third phase started in
late 1990s and early 2000, which is considered as the organised retail boom
period. It came into existence in some parts of Africa, Central and South
America, South-east Asia, China, India, and Russia, and still continues to
grow at a rapid pace.

In developed countries, organised retail has a major share in total retail as

compared to developing countries.

The major global retail markets are:

United States: The US retail market, the largest retail market in the world,
is classified into three categories: department stores, mass merchandisers,
and specialty stores. The value-consciousness of US customers leads to an
increase in the sales of discount stores. As a result, mass merchandisers’
category is growing faster than other retail categories. In addition, online
retailing has also become popular in the US.

United Kingdom: In UK, the sales volume of retail sector in June 2013 is
2.2% more than the sales volume recorded previous year.

China: It opened up its economy to the world in 1980s, which led to the
growth of the retail market in the country. The retail sales of China have
increased to 13.3% in June 2013 as compared to previous year data.

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China’s retail industry is growing at a remarkable rate and plays a vital role
in the global retail scenario due to its growing population, large cities, and
increasing purchasing power of the local population.

India: It has over 13 million retail outlets, the highest in the world. In
addition, the average size of each retail outlet in India is 50-100 square feet.
Retail is the largest industry in India. It accounts for over 10% of GDP and
about 8% of the employment in India.

The taste, preferences, and buying behaviours of Indian customers are

changing gradually. This has led to a revolution in shopping in India. As a
result, modern retailing has entered Indian markets and it could be noticed
from the bustling shopping centres, multi-storied malls, and other complexes
offering shopping, entertainment, and food.

The retail industry growth in India is the result of increase in:

 nuclear families in urban areas,

 young working population with the average age of 24 years,
 population of working women, and
 new opportunities in services sector.
The organised retail sector of India will continue to grow due to the
untapped middle class (which is growing rapidly) retail industry that
encourages global retail giants to enter the market. Indian retail industry is
expected to grow at a rate of 25% annually, and will reach US$175–200
billion by 2016.

1.2.2 Scope of retailing

In the previous section, you studied that the retail industry in developed
countries has reached its saturation point. Thus, the scope of retailing in
developed countries is limited. However, the scope of retailing in developing
countries like India is very wide. The major part of Indian retail is still
unorganised. India’s increasing population and product demand encourage
global business giants to enter the market.

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Among developing countries, India has the highest scope of retailing.

Despite global economic slowdown in 2011, Indian retail industry is growing
remarkably. This is due to the decline in inflation rate in 2011 that brought
value sales to independent small grocers and other retailers.

Some of the factors that increase retailing scope and led to the future
growth of retailing in India are:

New Foreign Direct Investment (FDI) Policy: Indian Government revised

the liberalisation policies for the retail sector in 2011. The government
allowed 51% of FDI in multi-brand retailing, while it permitted 100% FDI in
single-brand retailing. This has increased the future opportunities for the
global retailers like IKEA, Gap, Zara and Marks & Spencer, in the Indian
retail market. It would also benefit Indian consumers as they will get their
favourite brands in their own country.

Expansion of Organised Retailing: As Indian retail market is growing, the

organised retailing will also expand in various parts of the country in future.
Along with the continuous increase in the shopping malls across tier-1 cities,
several domestic retailers, such as Pantaloon Retail India Ltd., Spencer’s
Retail Ltd., and Reliance Retail Ltd., are opening their outlets in tier-2 and
tier-3 cities.

Introduction of Hypermarkets: Several Indian retailers like Future Value

Retail Ltd., Reliance Retail Ltd., and Aditya Birla Retail Ltd. are opening up
hypermarkets at the end of review period of 2011. These retailers believe
that hypermarkets would provide a wide range of products and services to
customers at slashed prices. This will attract the customers and increase
the sales of the stores.

Self Assessment Questions:

1. __________is the activity of selling products and services to the end
customer for consumption purpose.
2. Retailing can also be defined as the activity of buying products or
services in larger quantities and sell them in small quantities.
(True/False)

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3. The modern form of retail came into existence after __________

successive phases.
4. The retail market of UK is considered to be the largest retail market in
the world. (True/False)
5. Which of the following is not a factor that increases the scope of
retailing in India?
A. New Foreign Direct Investment (FDI) Policy
B. Expansion of Organised Retailing
C. Introduction of Hypermarkets
D. Change in Government

Activity 1:
Visit a retail store and list the different business functions that are being
performed there.

1.3 List of Indian Retailers

In the previous sections, you studied that Indian retail industry is growing at
a fast rate. In addition, you learnt that the future scope of Indian retail is very
high. As a result, the number of global and domestic retailers has increased
in India. These retailers are using different retail formats to expand in
different parts of the country. The following are the Indian retailers in
different segments of the industry.
Departmental Stores: It include the retail stores that carry a broad variety
of merchandise and are organised into separate departments like Men’s
apparel, sporting goods or electronic appliances, for displaying the
merchandise. The Indian retailers belonging to this segment are Shoppers’
Stop, Pantaloons, Pyramid Mega Store, Lifestyle, Globus, Westside, and
Central Mall.

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Hypermarkets: It refer to the retail stores that are a combination of

departmental store and grocery store. Big Bazaar, Spencers, Vishal Retail,
Magnet, Star India Bazaar, and Shop Rite are the examples of
hypermarkets in India.

Convenience Stores: It refer to the small retail outlets that are located at
convenient places with extended opening hours. These are also called
‘neighborhood store.’ Trumart, Nilgiris, Food World, Reliance Fresh, and
Spencers Daily belong to this segment.

Specialty stores: It Include retailers like M.A.C, Titan, Bata, Archies,

Depot, Landmark, Crossword, Planet M, and Tanishq, which concentrate on
limited types of merchandise, cater to a niche market, and offer specialised
services to focus on a target audience, based on the demographics and
relationship building for long term customer value.

Furniture retailing: It refers to the retail stores having furniture items. The
retailers under this segment are Concept, Living Room, Style Spa, and
Tangent.

Consumer Durable Chains: It include retailers like Viveks, Tata Croma,

Vijay Sales, Sumaria, and Sony Mony, who sell consumer durables in India.

1.3.1 Functions of a retailer

After learning the basics of retailing, let us try to understand the functions of
a retailer. A retailer acts as a middleman between supplier
(manufacturer/wholesaler) and end consumer. Thus, retailers perform dual
functions. They provide an outlet to suppliers for their products and services
on hand, and facilitate the selling of suppliers’ products and services to the
end customers. These are two primary functions performed by a retailer.

For completing these functions effectively, a retailer needs to perform the

sub-functions as shown in Figure 1.1:

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Assembling goods

Arranging storage

Grading and packaging

Functions of Retailers
Physical distribution

Risk bearing

Financing

Sales promotion

Personal Selling

Gathering Market Information

Figure 1.1: Different Functions of Retailers
The different functions performed by retailers (as shown in Figure 1.1) are
as follows:

Assembling goods: A retailer needs to purchase products and services

from supplier and store them. This is essential to make the products and
services available to the customers when required. For example, when you
ask retailers for a product, which is not displayed in the store, the retailer
would send one of the staff members, probably the sales executive to get
the product from the warehouse or the store room. This implies that retailers
store products for future use.

Arranging storage: A retailer needs to have a proper storage system to

store the products and services to make them available to the end-
customers on time. For example, when you visit your nearby food-store, you
can find that the perishable products and beverages are stored in
refrigerators or cold storage, while the non-perishable products are stored in
normal temperatures.

Grading and packaging: Sometimes, retailers need to perform the grading

function. Grading is an activity in which the retailer needs to categorise the
products based on their characteristics, such as size, shape, colour, and
quality. After grading the products, the retailer needs to pack the classified

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products to make them easily available to the end customers. For example,
in a supermarket, you can see the different product categories are stored in
different sections and every section contain similar product as shown in
Figure 1.2:

Figure 1.2: Grading and Packaging performed by Retailers

Physical distribution: A retailer performs the physical distribution of goods
from the supplier to the end customer. For example, Maggi noodles are
manufactured by Nestle, but the customers get the product from their
nearby retailers.

Risk bearing: A retailer needs to bear the risk of loss that may result from
the spoilage of material while procuring and storing the products and
services. For example, when retailer buy soaps from a soap manufacturing
company, the spoilage occur during the transportation and storage of soaps
will be bear by the retailers.

Financing: A retailer needs to perform financing functions by providing

credit facilities to its customers. For example, retailers provide bikes,
refrigerators, or plasma TVs on easy installments to its customers.

Sales promotion: Retailers promote the products and services by

displaying them attractively in windows or shelf. For example, retailers

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employ various sales promotion techniques like free coupons, samples,

premiums, point-of-purchase (POP) displays, contests, rebates, and
sweepstakes for attracting customers to purchase products.

Personal selling: Retailers advise and guide the customers in the selection
of products and services, thereby promoting the products. For example, a
financial advisor assists customers to invest in a profitable investment
opportunity.

Gathering market information: Retailers provide customer information like

their tastes, preferences, buying behaviour, and competing brands, to the
manufacturers and wholesalers to design and market the product
accordingly. For example, in some retail store, feedback forms are provided
to the customers to give their feedbacks on the products. These feedback
forms are further passed on to the manufacturer to improve their products
and satisfy their customers.

1.3.2 Factors for the growth of retailers

Earlier, retailers had no authority. The manufacturers or the suppliers used
to decide the prices and quantity of their products and services that retailers
had to stock and sell through their stores. In addition, their profit margin was
also decided by the manufacturer.

With the passage of time and increase in competition, retailers can now set
their own terms and conditions before manufacturers to sell their products.
Retailers also charge fees to the manufacturers to keep their brands on their
store shelves, introduce offers on products, postpone bills or extended
credit, and payment for retailer advertisement in support of the new brands.

The factors responsible for the growth of retailers’ influence and position are
discussed below:

Proximity to end-customers: The end-customer has a direct access to the

retailers of products and services. For example, if you buy a refrigerator
from a retail store and you had some issues about its functioning, then the
first person you approach is the manager of the retail store. If the manager
is unable to solve your problem, you will approach the manufacturer through

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the manager. Therefore, you can say that the retailers have the direct
interaction with the customers, while the manufacturers or wholesalers are
not in-direct touch with the customers.
With increasing competition, manufacturers have realised that the retailers
are the one who can influence the customers’ buying decision and make
them buy their products. As a result, manufacturers have started providing
new and attractive perks to the retailers to store and promote their products.
This has led to an increase in the authority and position of retailers.
Growth of Consumerism: The changing preferences and tastes of
customers are the important factors for the growth of retailers. In today’s
dynamic world, the customers are becoming more demanding. They want a
convenient and comfortable place for shopping. In addition, the time for
shopping and location of a retail store also influence a customer’s buying
decision. Thus, the role of retailers becomes vital to the manufacturers as
they communicate the needs of customers to them.
In addition, the retailers have increased their services to attract the
customers. For example, the petrol pump retailer not only provides petrol
and diesel, but also speed mart and ATM services.
Introduction of Private Label: With the increasing importance of retail
shelf space, retailers place products of selected brands on their shelves. In
addition, most of the retailers have developed their own products and
market them with their names. These products are called private labels.
Private labels are generally priced lower than other competing brand, which
attracts customer’s attention.
These products cater to the needs of specific customers. The global market
of private label is growing at a rate of 6%. Private labels have played an
important role in the growth of the retailers.
Advanced Technology: By using the new and advanced technology like
barcodes and point of sale scanning systems, the retailers are now able to
get latest information about the customers. This information helps the
retailers to identify the customer’s profile, products demand, preferred price
ranges, and success of promotional activities at their stores. After analysing

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this information, the retailers frame their strategy to attract more customers.
This further helps in the growth of the retailers.

Self Assessment Questions:

6. __________includes the retail stores that carry a broad variety of
merchandise and are organised into separate departments like Men’s
apparel, Sporting goods or Electronic appliances, for displaying the
merchandise.
7. The Indian retailers in hypermarket segment are Big Bazaar,
Spencers, Vishal Retail, Magnet, Star India Bazaar, and Shop Rite.
(True/False)
8. __________refers to small retail outlets with extended opening hours
and located at a convenient place
9. Which of the following is not a function of a retailer?
A. Assembling Goods
B. Manufacturing Products
C. Financing
D. Sales Promotion
10. ____________is an activity in which the retailer needs to categorise
the products based on their characteristics, such as size, shape,
colour and quality.
11. Retailers promote the products and services by displaying them
attractively in windows or shelf. (True/False)
12. The end-customer had a direct and closest access to the retailers of
products and services. (True/False)
13. Most of the retailers have developed their own products and market
them with their names, which are called __________.

Activity 2:
Identify the reasons for the growth of the retailers in India.

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1.4 Two Important Pillars of Retail: Supply Chain and

Merchandising
In the previous sections, you studied that the retailer acts as a middleman
between the supplier (manufacturer/wholesaler) and the end customer.
Thus, for competing in the market, a retailer needs to effectively manage the
relationship with both of them. The retailer can establish healthy relationship
with suppliers only if it manages its supply chain efficiently.

Effective merchandising helps the retailers to maintain a strong relationship

with its customers. Therefore, supply chain and merchandising act as the
two important pillars of retail.

A supply chain is the network created amongst different companies by

producing, handling, and/or distributing a specific product. An efficient
supply chain benefits the customers by reducing the incidence of stock-outs
and providing the assortment of merchandise as required. This, in turn,
leads to higher sales, higher inventory turns, and lower mark-downs for the
retailers.

The scope of supply chain functions primarily covers all types of costs
associated with inventory levels, storing, and movement of merchandise.
These costs are optimised without impacting service levels using various
mathematical algorithms. Thus, supply chain management is a key factor for
the retailers to overcome competition.

One of the major goals of the retailer is to sell maximum merchandise.

Therefore, prompting the customer to decide what to buy is one of the most
critical functions of the retailer. Merchandising is the process by which a
retailer tries to offer the right type of merchandise, at the right price, at the
right place, and at the right time, in an effort to meet the organisation’s
financial goals.

Once the financial objectives are set, the retailer determines what to buy for
the store. Retailers have limited financial resources to invest and limited
space to display the products. For example, an apparel retailer must decide
whether to buy a large variety of different types of garments like shirts,

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trousers, jeans, shorts, blouses and skirts, or carry fewer categories

including larger assortment of styles and colours within each category.

The retailers also need to decide how much backup stock they require to
carry to avoid a stock-out situation. If the stock is more than it is required,
excess precious capital will be blocked. The process of trading off variety,
assortment, and stock is called assortment planning.

The merchandise mix, i.e., the breadth (variety) and the depth (selection in
product) is based on the nature of the retail store, which can be of following
types:

Limited-line stores: It focus on specific goods like sporting goods stores.

Single-line stores: It include specialty retailers like Leo Toys.

General merchandise stores: It include department stores like Lifestyle.

Supermarkets: They add high turnover non-food items to offset low

margins in food items. Spencers, Big Bazaar, and Spar are some examples
of supermarkets.

Discount Stores: They are departmentalised volume retailers. Discount

stores examples include Cantabil and Loot.

Factory Outlets: Certain brands like Reebok, Benetton, and Dollar Store
have many factory outlets to attract customers by providing heavy
discounts.

Self Assessment Questions:

14. A __________ is the network created amongst different companies
producing, handling and /or distributing a specific product.
15. The scope of supply chain functions primarily covers all types of costs
associated with inventory levels, storing, and movement of
merchandise. (True/False)
16. One of the major goals of the retailer is to sell maximum __________.
17. ___________ focus on specific goods like Sporting Goods Stores etc.

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1.5 Summary
Let’s have a recap of this unit.

Retailing is a process of selling products and services to customers.

Retailing also involves buying products or services in large quantities with
the objective of selling them in small quantities. In developed countries such
as the US and the UK, retailing is considered as one of the most promising
industries. In these countries, the retail market has been saturated; thereby,
forcing the retail giants to search for new markets in developing countries
such as India and China.

The evolution of modern day retail took place in three phases. The first
phase was from early to mid-1990s in South America and East Asia
excepting South Africa, China, and North Central Europe. The second
phase was around mid to late 1990s in South-east Asia, South Central
Europe, Mexico, and Central America; whereas, the third phase initiated in
the late 1990s and early 2000.

US, UK, China, and India are the major retail markets in the world. In the
past few years, the scope of retail in India has grown immensely. New FDI
policy, expansion of organised retailing, and introduction of hypermarkets,
are some of the major factors contributing towards the growing retail market
in India. Indian retailers are present in various market segments such as
departmental stores, hypermarket, convenience stores, furniture retailing,
and consumer durable chains.

Some important functions of a retailer are assembling goods, arranging

storage, grading and packaging, physical distribution, risk bearing,
financing, sales promotion, personal selling, and gathering market
information. There are various factors that contribute towards the growth of
retailers influence and position. These factors are proximity to end-
customers, growth of consumerism, introduction of private label, and
advancement of technology.

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Supply chain and merchandising are two important pillars of retail. Supply
chain indicates the network that has been created between various
companies that are engaged with producing, handling, and/or distributing a
particular product. The scope of supply chain covers various types of costs
associated with storing, inventory, and merchandise movement.
Merchandise can be referred to as the process of offering the right type of
product by the retailer at the right price.

1.6 Glossary
Let us have an overview of the important terms used in the unit:

Hypermarket: A retail store having the goods of a departmental store and a

grocery store.

Convenience Stores: A small retail outlet that opens for long hours and is
located in convenient place.

Private Labels: The products that are developed and marketed by the
retailers with their names.

Consumerism: The joint effort of government and society to protect and

promote the interests of customers.

1.7 Terminal Questions

1. What do you mean by retailing?
2. Discuss some of the major global retail markets.
3. Discuss the growth of retailing in world and India.
4. What is the scope of retailing in developing countries?
5. List the retailers in different segments of the Indian retail industry.
6. What are the functions of retailers?
7. Explain the factors responsible for the growth of retailers.
8. What are the two important pillars of retail?

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1.8 Answers

Self Assessment Questions

1. Retailing
2. True
3. three
4. False
5. d
6. Departmental Stores
7. True
8. Convenience Stores
9. b
10. Grading
11. True
12. True
13. private labels
14. supply chain
15. True
16. merchandise
17. Limited-line stores

Terminal Questions
1. Refer section 1.2 Meaning of Retailing that defines retailing.
2. Refer section 1.2.1 Growth of retailing in world and India that lists
major global retail markets.
3. Refer section 1.2.1 Growth of retailing in the world and India that
explains the growth of retailing in the world and India.

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4. Refer section 1.2 Meaning of Retailing that discusses the scope of

retailing in developing countries.
5. Refer section 1.3 List of Indian Retailers that categorises the retailers
in different segments of the Indian retail industry.
6. Refer section 1.3.1 Functions of a retailer that categorises the
functions of the retailers.
7. Refer section 1.3.2 Factors for the growth of retailers that lists the
factors responsible for the growth of retailers.
8. Refer section 1.4 Two important Pillars of Retail: Supply Chain and
Merchandising that explains the two important pillars of retail.

1.9 Case Study: Pizza Hut

Pizza Hut India is a division of Yum! Restaurants International, which itself
is a part of Yum! Brands Inc. It is the world's largest restaurant chain in
terms of structured units. Pizza Hut serves a variety of pizza types along
with numerous other dishes, such as salad, pasta, breadsticks, and garlic
breads. This retail chain tries to provide its customers an ‘enhanced dine-in’
experience in the casual dining segment.

Niren Chaudhary, Managing Director–Indian Subcontinent, Yum

Restaurants India, said, “In the Indian market, we have always been
wrongly compared with other pizza delivery chains. The enhanced dine-in
concept will distinctly position us in the casual dining segment and reinforce
our leadership in the space.”

Yum! Restaurants International operates 138 Pizza Hut dine-in stores and
98 Pizza Hut delivery stores in India. Now, it is planning to double its total
investments and store counts in India by investing US$100 million and
opening 500 more outlets by 2015. Industry experts say that this move can
trigger foreign investment boom in the retail business of the restaurants.
Harminder Sahni, Managing Director, Wazir Advisors, a retail consultancy,
said, "We could see increasing examples of parent firms buying out partners
in India, though this is not exactly the case with Pizza Hut."

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India is emerging as one of the fastest growing retail markets in the world.
Retail consultancy Technopak Advisors guess that the country's 'eating out'
market is of around 33,000 crores. Pizza Hut has just completed its 15
years of operations in India. Pizza Hut’s India Marketing Head, Sunay
Bhasin said, "A new nationwide ad campaign would be launched by the end
of the week. The 15 pizzas are inspired from regional cuisines and flavours
from around the country."

Questions:

1. What are the reasons for the growth of Pizza Hut in India?
2. Why does Pizza Hut focus more on dine-in concept rather than just a
pizza delivery in India?

References and Suggested Readings

 Jacobsen, M.-L. (2009), The Art of Retail Buying: An Introduction to Best
Practices from the Industry. Clementi Loop, Singapore: John Wiley &
Sons (Asia) Pte. Ltd.

 Sehgal, V. (2009), Enterprise Supply Chain Management: Integrating

Best in Class Processes. New Jersey, Canada: John Wiley & Sons, Inc.

 Andersen, A. (1997), Small Store Survival: Success Strategies for

Retailers. New Jersey, Canada: John Wiley & Sons, Inc.

E-References
 http://business.mapsofindia.com/india-retail-industry/companies-growth/

 http://www.accenture.com/us-en/Pages/insight-retail-2020-
summary.aspx

 http://www.retailmantra.com/list-of-retailers-in-india/

 http://www.euromonitor.com/retailing-in-india/report

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