Retail Store and Its Impact on Traditional Stores

Abstract

At the present time we all are seeing that the charm of traditional store is going down and retail stores are taking their boom. The main factors behind this are education level, awareness, life style, standard of living and the consumption level. These all things become it possible due to highly increase in income level and the impact of western culture. At present the retail store has become the brand in the eyes o customers and they believe that the accurate and correct quality will be given only at retail outlets and exploitation done by local stores will be end up.

As the researcher belongs to Agra so, the work is conducted at Agra region, where he collected the information from retail stores also and from nearby traditional stores also.

Research suggests that malls and hypermarkets – the physical expression of a society's retail desire – are booming. But the harsh truth is that the heady gold-rush days for organized retail are clearly over. Oversupply, fierce competition, high rentals, poor infrastructure and shoddy marketing are just some of the problems that are dogging these cathedrals of consumerism. Beneath the gleaming façades, color coded displays and nattily turned out shop assistants, there is a hum of unrest.

Success stories still abound, but tales (often untold till now) of vacant lots, lost investments and shattered expectations are growing with every passing day.

Hence, the statement of problem "Retail Outlets and its impact on Traditional Stores” was formed with the objectives of studying and analyzing the reasons for this patchy growth of organized retail, especially the larger formats vis-í -vis shopping malls and hypermarkets, and its uneven progression in India. This research has intended to focus on the theory and concept of professional and effective mall and hypermarket management. The study also tried to investigate the factors which can possibly lead to the expansion of loyalty concept to include preference for a shopping mall and / or a hypermarket – deciding where to buy in an increasingly complex retail mall globe and simultaneously delve into the future of Mom 'n Pop stores and consequently investigate the changing paradigms and emerging challenges of retail centric projects. There is a sharp and contrasting transformation in consumer behavior in accordance with Indian retail trends and hence this research has tried to find out the shoppers' retailing attitudes and behavior in shopping malls and hypermarkets, along with the Mall Retailers' opinions, Mall / Hypermarket Managers' perceptions and Mall / Hypermarkets' Builders' / Developers' views about the changing landscape of Indian Retail. Furthermore, an insight has been sought into the changing preferences of the people towards new– age, trendy, swank and ultra-modern multiplexes from the cinema houses.

Additionally, this study has also attempted to investigate the competition posed by the ‘No Frills' lifestyle stores and the hypermarkets like Big Bazaar, Easy Day etc towards the shopping malls, and whether the former poses any threat to the latter. Apart from this, the advent of the ‘theme malls' or ‘niche malls' has also been examined and their chances of survival in the typical price sensitive Indian market.