You can refer Retailing in India - Part 1 also.

With the entry of the Multi National Companies like Wal Mart, Adidas, McDonalds, General Electrics, Carrefour the retail market has started growing faster and along with it has been able to generate more employment among the youth. The more the investment, the more is the growth of the retail sector and more is the employment opportunity. With the introduction of retail sector the concept of floor management, event management, hospitality management, logistic management, visual merchandising, warehouse management and many others have come up. Increasing number of graduates opt for a foothold in the retail sector through different management programs and the institutions are including new courses in their curriculum to train people for such professions. The whole thing works like a well oiled machine.

Wal-Mart, an American public corporation founded by Sam Walton in 1972, which is the world’s largest public corporation by revenue, operates in Mexico as Walmex, in the UK as ASDA, and in Italy as Seiyu. It has wholly owned operations in Argentina, Brazil, Canada, Puerto Rico and UK. Recently it has entered into a joint venture agreement with Sunil Mittal’s Bharti Enterprises to open 10-15 cash-and–carry facilities for seven years. Similarly McDonalds who sells hamburgers, cheeseburgers, french-fries, milkshakes and desserts is famous all over the world has outlets in US, Canada, Finland, France, Philippines, Mexico and many other countries.

The retail companies have their share of criticisms too. For example Wal-Mart was criticized by some community groups and labour unions for its extensive foreign product outsourcing, low rates of employee health insurance enrollment, resistance to union representation and alleged sexism. Keeping aside all these criticisms Wal-Mart went ahead with its goal of global marketing ensuring the well being of the society and the environment. The primary goals included spending $500 million a year to increase fuel efficiency, reduce emission greenhouse gas by 20% in seven years and reduce energy use at stores by 30%. They are the largest seller of organic milk and largest buyer of organic cotton in the world.

The data with Walmart shows that by eliminating excess packaging on their toy line Kid Connection they can save $2.4 million a year in shipping costs, 3800 trees, and a million barrels of oil. Even McDonalds has to face such criticisms. It was criticized for its environmental policies in the 1970s. From then it began to make substantial progress towards source reduction efforts. For instance, an “average meal” in the 1970s –a Big Mac, fries, and a drink required 46 grams of packaging. Today, it requires 26 grams only, a whopping 46 percent reduction. In addition it eliminated the need for intermediate containers of Coke by having a delivery system that pumps syrup directly from the delivery truck into storage containers, saving two million pounds of packaging annually.

In East-Asia it has become a symbol for the desire to embrace the Western cultural norms. It has tied up with Sinopec, China’s second largest oil company, in the People’s Republic of China, as it begins to take advantage of China’s growing use of personal vehicles by opening numerous drive-thru restaurants. Similarly McDonalds has also started opening up its market to the Indians.

Opening up of retail sector to foreign direct investment has come along with many criticisms and controversies yet it cannot be denied that it has not brought a sea change in the world of marketing.

a.      Generate employment.

b.     Able to meet the demand of product choice, quality, service and shopping ambience as compared to the previous generation.

c.      Shopping has been made smarter and easier with products stocked in a well-organized fashion classified into various sections in a self-help format. These retail stores also have become family recreational spots. Shopping has become an exciting venture with loads of offers round the year.

d.     Time saving – One stop shopping concept, where everything is available under one roof from grocery items, garments, jewellery, footwear, leather product, books, gadgets and lots of other accessories.

e.      Cheaper than at her usual street vendors.

f.       Investment in storage.

As Asia becomes the growth engine of the world, with China and India as drivers of the growth, the big retailers will be looking opportunities to make their presence or expand their business in these countries.

With rapid growth in India and increasing per capita income for the consumers, the spending power of the average consumer will increase. Due to increasing population, the average consumption for a nation will also increase. All these things have great scope of business for retail companies. This in turn can create a great eco-space like increased investment in cold chains and directly procuring from the farmers and cutting the middlemen thereby reducing the cost, generation of employment and creation of new avenues for jobs. The increasing demand for different job profile will push introduction of new courses in the colleges and opening of new colleges also. All these things can create a very stable ecosystem which can feed upon one another to survive.

and these two things act as trigger for the the rowing into an exciting and competitive retail market with potential target customers in both niche and middle class segments. Manufacturers owning specialty chains and franchise stores are springing up in urban areas along with supermarkets and hypermarkets. This fastest growing sunrise industry offers great potential for growth and with the flow of foreign direct investment the future is even brighter. Retailing in India has acquired a new league with the help of Foreign Direct Investment. It has changed the shopping culture in the subcontinent. Specially the youth have enjoyed its contribution towards generating employment and also the way it has changed the life-style of the growing India.

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