Rural Retail In India

Much has been said about rural retail in India and much still remains. During my teaching assignments a couple of my students have shown a passion for this domain and I don't think it emerges out of a social cause but sheerly out of the great learning and business opportunity that it is. Some of my very committed students Neha, Priya and Deepak(student of IILM, Gurgaon) have done a preliminary report on Rural Retail , it would benefit people who would want to have a basic analytical and fact based understanding of Enables and Impediments etc in this space. Happy Reading!

Jobs In Retail

I have been trying to put in perspective the job market in retail and am amazed at the sheer demand in the sector. Currently, huge requirements exist for front line staff, supervisory staff and all support functions. Of course, we are looking at expats bringing in huge knowledge and experience pool at leadership levels.

I was at a B School a while ago, looking at hiring a couple of people for the retail practice at Milagrow (www.milagrow.in). Every such transaction leaves me gasping at the lack of applicable knowledge. I have has some brilliant students in retail courses who have through sheer good choices and then performance found good careers in the industry. However, they are not a rule. Here, I am not even mentioning the commercialization of management education in India. What I am really deliberating on are the huge gaps in the minds of students about the roles.jobs, moneys associated with them and mapping them against real knowledge and skills.

I was probably hard on a few students but real time work is harder. Hope B Schools encourage 'thought led action' for students and help our largely rote oriented new generation.

Forward Integration In Retail in India

I have typically seen India manufacturers in apparels and even more so in Consumer Durables forward integrate to retail sales and/or service to cover all customer touch points. Lately, this trend has been extended to another industry of stationery and related categories.

We have seen 'Just Linc' exclusive brand outlet (EBO) chain which has an assortment as large as 100 SKUS in a good ambience, ease of shopping and 'try and buy' concept. Tthen in a similar format, there is Pidilite which is promoting 'Hobby Ideas' which is basically an assortment for art, craft and related hobbies.

I am sure, other manufacturers in the same category are also looking at increasing business channels and thereby exploring opportunities in either export or domestic retail. The space is still new and we will have many players to watch.

Retail Training In India

Retail probably is the biggest customer interface industry and worldwide marred by little education at front end level. 8% share in total employment in India and 80% attrition. Could translate into huge employment opportunities for many.
After recruitment, training seems to be a large opportunity in this space which many are looking at. So we have many training schools focussed on retail.
As a retailer what perhaps I would look for is customised training for my front end team, ability to successfully circumvent the 'just looking', and be able to advise. Seems like a great challenge! Also, as far as I know very little customisation is happening in the retail training space. SO there definitely seems to be a gap.
Also, a standardisation of knowledge and skills might be required. Groups like RAI (Retailers' Association of India) could look at certification for front end and supervisory levels just like they are trying to raise the bar for retail education in B Schools.

Luxury Retail In India

I recently visited the Select CityWalk mall (http://www.selectcitywalk.com/) in New Delhi. Whoever has had a chance to visit the mall would have no doubts about the viability of luxury retail in India. I have also had a chance to briefly meet and hear their CEO Pranay Sinha (http://www.linkedin.com/in/pranaysinha). Besides being an eloquent speaker, Pranay displays an in depth understanding of retail and mall management. All of this reflects in the mall.

Lest this sound like an ad for that mall, I only want to comment on the upswing in the high end retail in India. Whilst we all keep talking about the income pyramid being a diamond in India, thus denoting the expansion of the middle class, the footfalls and conversions at some destinations stand to question this. Perhaps, the top of the pyramid is also rapidly expanding. There is tremendous underlying opportunity for high end retail in India and hereafter, the biggest constraint i.e paucity of appropriate location is taken care of. Way to go!