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The Rise Of Korea

Abstract

Retail is a big business around the world. Look at the list of fortune 500 firms & you will find a retail company beating all the big banks & oil companies. What is even more interesting, a large part of the world is yet to be touched by the real power of retailing in its true sense. The highly efficient supply chain management by Wal-Mart using its unique “cross-docking” system or the value being delivered by Aldi’s & Metro’s in Germany are yet to cover the entire global market. India with 1/6th of world’s population is flirting with the idea of opening up of this sector. As they say, we have just seen the tip of the iceberg….

The white paper covers many of the facets of “Retailing”. We shall start with the overview of the global retail market & major players in it. We will identify the biggest markets & biggest players involved. The emphasis shall be on to look at the Key Success Factor’s for retail industry. We will identify important matrix of determinants for success in retail market like SCM & Logistics, close relationship with suppliers, a well established CRM program etc.

After giving an overview of retail business we analyzed the impact of globalization on retail. The purpose is to look into the various external factors influencing the dynamics of the Industry globally & in Indian scenario particularly. In India, retail sales in real terms are predicted to rise more rapidly than consumer expenditure during 2003-08. The forecast growth in real retail sales during 2003- 2008 is 8.3% per year, compared with 7.1% for consumer expenditure.

One of the major attributes of retailing is the complex & dynamic relationship between the retailers & the manufacturers. It’s a strange relationship with the retailer needing the known brands to pull the masses & establishing its own brands to increase profitability. We have looked into the constant struggle between the power of manufacturer brands & the power of the private labels too....