Evolution of retail formats in India: Factors and analysis

Abstract

The term ‘retail’ has French origin and it means “to cut a piece off” which is basically implied as breaking bulk which we know is a core aspect of retailing in modern world1. Phillip Kotler defined retail as “retailing included all the activities involved in selling goods or services directly to the final consumer for personal, non business use.” Retailing has two important aspects- buying and associated services. The objective of retailing is to provide deliver goods and services as consumer demands at competitive prices. Retail is consumer focused as retailers are in direct communication with consumers. The entire business chain of retailing demands coordination right from the start of manufacturing, logistics, warehousing, and store layout to its delivery and associated services availed to the consumer.