[mgrKochi]

I was looking for getting an insight about the one year PG course at Indian Retail School (IRS). It would be very helpful if anyone of you could share your thoughts regarding that institute.

[Tsharma]

Originally Posted by mgrKochi

I was looking for getting an insight about the one year PG course at Indian Retail School (IRS). It would be very helpful if anyone of you could share your thoughts regarding that institute.

Hi mgrKochi!

Glad to know that you too getting yourself ready for the retail triumph story; congratz!

Indian Retail School – IRS Delhi is an private institute that offers one year diploma in Retail management. I’ve read about this institute in great detail due to the over advertisement of this institute in the news papers and over internet.

If anyone use keywords “Indian”, “Retail” on Google you’ll be able to see name of this institute listed in the top searches on the very first page. Nope, it’s not like this institute is one of the crest layers of the institution offering Retail course; but, they have advertised themselves to an extent that you will end up with “Indian Retail School” any where on the search engine. In short, don’t go for whatever they are talking about in their advertisement as propaganda but find out what really this institute is up to.

The fee structure of this institute for one year diploma is Rupee 175000. You need to submit this fee in two installments (obviously, half fee per semester.) I’ve visited this institute with my friend who went there for an enquiry regarding the retail program. The counselor told us that they do offer placement ‘assistance’ to students pursuing one year course. But, we do not receive a satisfactory answer regarding the minimum and average salary offered to their students.

Anyways, I would recommend that you visit the institute and have word with the faculty and students over there for some genuine feedbacks. I also don’t like their infrastructure; the institute building appears to me like any big cyber café kind of that offers certification courses (this is my personal experience; your experience could be different after visiting there.)

Like I said; you got to visit the institute to get the ‘feeling’ after having talk with peeps over there. :argue:

Best of Luck!

[Tsharma]

Hey Guys!

I’m wondering if there is any exclusive retail website exists on internet that provides features such blogging/forums to discuss on and off issues of Retail sector?

Yeah, I know some of those that do post articles and provide online news but I’m not satisfied with those completely.

There are few websites that I visit to update myself regarding in and out of the industry. Indianretailbiz dot com, indiaretailing dot com to name a few including PaGaLGuY ; I found this particular thread in informative enough to share our ideas. But I want some more uber stuff.

:2gunfire:I will look forward for hearing from our puys community soon.

Cheers!

[neeha]

Originally Posted by Tsharma

Hey Guys!

I’m wondering if there is any exclusive retail website exists on internet that provides features such blogging/forums to discuss on and off issues of Retail sector?

Yeah, I know some of those that do post articles and provide online news but I’m not satisfied with those completely.

There are few websites that I visit to update myself regarding in and out of the industry. Indianretailbiz dot com, indiaretailing dot com to name a few including PaGaLGuY ; I found this particular thread in informative enough to share our ideas. But I want some more uber stuff.

:2gunfire:I will look forward for hearing from our puys community soon.

Cheers!

Hi Tarun,

Good initiative. We can use this forum to discuss the latest happening in retail. We could have volunteer from the thread who would cover the details. We can divide the Retail news into vertical such as food, apparel, footwear, luxury, etc. and each volunteer can choose a vertical and cover the news. Volunteer can also divide the news of interest basis retail formats or basis newspaper, blogs and magzine.

And once an article is posted by any volunteer we would all discuss it.

Please post your replies on the thread if we could do it and if we have any volunteers on the thread.

[Tsharma]

Hi Everyone!

I always came across with a lot of information junk on various website they post to their site. One thing that bugs me and at same time entices me is how some of the big retail stores use the technology to improve their business.

I am aware of the use of some sophisticated equipment in retail stores for billing purpose which seems like an electronic type-writer if you would have asked me few years back. I might be sulking even more over my in-expertise in technological front; if I’ve not upgraded myself a bit with present tech trends. May be I need to keep learning more…!

If you observe a bit closely you will discover that every other large organization is employing SAP application for the business solutions these days. For example: a manufacture unit use SAP solution to improve and optimize the cost of production, saving man-hours, and setting the competitive price to their products. In retail, big superstores like: Tesco, and Hypercity – India has been using various products of SAP – Retail. Enterprise of all size: large, midsize, and small it (SAP) provides ERP (Enterprise resource planning), and CRM solutions to help their business.

If you visit website of SAP you will see testimonials of various companies that profited from SAP service big time and nearly doubled their share in market.

I’ve read some where that Tata-Infosys has come up with some sort of retail software that keeps track of what customers buy, and what products keep eating the space in the store that customers are not remotely interested in purchasing. It also helps in managing the inventory in great deal, connects/collect data of other stores that helps account support. In the end it improves customer’s experience.

I’m not talking about any particular retail verticals here that incorporate these business solutions; rather taking a holistic approach of its impact on retail sector.

I will keep these IT companies alone to keep producing more such products and keep improvising on technology.

But do you think the immersion of technology and retail will churn out jobs that demands hybrid skills in the future? How can one cope with these demands rather being a plain vanilla management pig-head? May be you already have bumped with such offering in retail stores abroad?

[xcoolaryan]

But do you think the immersion of technology and retail will churn out jobs that demands hybrid skills in the future? How can one cope with these demands rather being a plain vanilla management pig-head?

Yes. I think there will be demand for hybrid jobs in future. I guess that's why many mgmt institute are coming with specialized retail pgm where they offer main specialization in retail while secondary specialization will be offered in domains such as HR / Finance / IT. ( at least, @NM we have such specialization)

Also many engg. from IT field are coming into retail, in my class there are about 9 IT Engg (out of 30) who are from IT field (have exp. in Infosys / Syntel & many more).

[Tsharma]

Hi there!

As far as my institute is concerned I’ve not heard whether they are providing something like secondary specialization. Of course, core/main specialization will be retail. I was informed that sort of assignment that we submit in last semester will decide the kind of roles we will be offered in placement. I could be wrong though; coz, my first semester is about to start from next month.

Apart from students with engineering background opting for retail management course; these days there are courses available (NIIT for example) right after 10+2 that prepares individual to get placed in retail sector as an IT executive.

I will think about SAP – Retail certification after getting appropriate work experience at management level. I’ve feeling that after 5 years when retail giants like Tesco and Walmart have their business in full swing here it will create jobs that demands additional skills.

P.S. If there is any other aspect of the responsibilities available in retail or anything that you would like to discuss; then please do not hesitate to post here

[crazzy4mba]

Hi Neeha n all others,

I wud like to volunteer for discussing/ spreading out more information on the retail sector.
Would also like other people to volunteer so that we can come out with gud articles on retail sector in india in particular.:idea:


Regards,

Sain Sumit
Class of Marketing
Batch of 2008-10
SIBM Bangalore:2gunfire:

[Tumtum]

Hello all.

Though I am new to this thread (my first post in this thread) but I am very well-versed with the retailing sector globally as I am an analyst tracking the Consumer Staples & Discretionary sectors in US/EU and India for a leading investment bank.

Though this might dampen your spirit to pursue a career in retail, I have come across a very good article on Retailing Sector scenario in India published in the Wall Street Journal (WSJ). I thought sharing this with you might be good for all on this thread. Here's the article...

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WSJ: Retailers Take a Slower Road in India

Coping With Competition, Tepid Growth; 'Everyone Has Miscalculated' the Pace
By ERIC BELLMAN
August 26, 2008;
BANGALORE, India -- India's expected retail boom hasn't taken off, leaving companies large and small to rethink their expansion plans.

Eric Bellman/ The Wall Street Journal

Empty rickshaws, left, lined up at the entrance of the Forum Mall in Bangalore as their drivers await customers.

Wal-Mart Stores Inc., which unveiled plans to enter India with a joint-venture partner two years ago amid great fanfare, will open its first wholesale store next year, but it won't comment on future plans. Three Build-A-Bear Workshop Inc. franchises in India opened by Murjani Group have closed. Straps, a chain run by India's Oswal Group that featured Wonderbra lingerie from U.S.-based Hanesbrands Inc., has closed its more than 20 stores. Big German retailer Metro AG, after five years here, operates only four wholesale stores; the company says it is taking its time developing its Indian business.
India's retail industry -- including everything from carrots to cars -- clocks around $350 billion a year in sales. That figure had been expected to double in the next seven years. But now, some retail executives are taking a closer look. Growth is less than hoped for. And thousands of new shops have sprouted in the past few years, so there are more players competing for the same consumer.

Eric Bellman/The Wall Street Journal

The Grand Sigma Mall in Bangalore. Indian retailing isn't growing as fast as many had expected.

Just three years ago, an explosion of conferences, analyst reports, Web sites and magazines predicted the arrival of a new Indian consumer who would change the global retail landscape. The first modern retail stores here were so popular that many entrepreneurs thought people would buy almost anything at any price. They were wrong, as both large and small retailers are discovering. For some, the forecast retail boom that promised jobs for Indians and a new market for global retail giants is already a bust.
"I was an eternal optimist; now I have become a realist," says Kishore Biyani, chairman of Pantaloon Retail India Ltd., India's largest retailer by sales, which has revamped its expansion plans as it discovered more about Indian consumers. "Everybody has miscalculated."
Most retailers say they are grappling with the same problems: rising costs and fewer buyers. In the early days of the boom, retail rents and salaries soared, though recently they have started to come down a bit. Many outlets discovered that consumers didn't really want their products. And unlike shoppers in Asia's other booming economy, China, Indians are rarely willing to pay three to 10 times more for an international brand than for its domestic equivalent. The average Chinese consumer has more disposable income, and more than a decade extra of experience with international brands.
Ritu Sureka opened her home-furnishings store "All Living" in the Grand Sigma Mall, Bangalore's newest, in 2005. She was sure the Indian tech capital's programmers and call-center workers would spend their rising salaries on stylish lamps and pillows for their new homes. Now she is advertising a 70%-off sale, and still doesn't make enough money to cover the rent. "I think this retail thing has been a failure," the 45-year-old says.
Nevertheless, India still generates excitement among some investors. Earlier this month, both British retailer Tesco PLC and Vornado Realty Trust, one of the largest mall developers in the U.S., announced plans to enter the country with local partners.
Some retailers, especially those catering to budget shoppers, are thriving. And deep-pocketed companies like grocery-store chains are willing to shoulder losses for a few years, assuming Indians will become accustomed to mall and supermarket shopping instead of buying at the country's millions of mom-and-pop stores.
Shoppers Stop Ltd., one of the first companies in India to attempt modern clothing and houseware chains, has posted net losses for the past two quarters. Some companies that still have big plans, including Indiabulls Financial Services Ltd. and Aditya Birla Group, have changed tack, closing some stores and making management changes.
"We all have to go through some restructuring and shake-up," says Thomas Varghese, chief executive of the Aditya Birla retail unit, which has more than 500 grocery stores. Most were built in the past two years, and few are profitable yet. "The Indian consumer is a damn tough customer."
If retail growth sputters, India will lose an important avenue for growth to trickle down to the masses: the jobs retail provides.
The country's recent economic expansion has been fueled largely by its service sector, and hasn't created millions of manufacturing and export jobs in the way China's boom has. But the Indian government had counted on retailing to soak up millions of rural and young job seekers. Two years ago, Mukesh Ambani, chairman of Reliance Industries Ltd., projected that thousands of his new stores would provide jobs for "500,000 young boys and girls in the next few years." Since that speech, the company has built around 700 stores, an impressive number but far from earlier targets.
In the Grand Sigma Mall, not far from Ms. Sureka's shop, an outlet that sold VF Corp.'s Wrangler Jeans has pulled out. On the ground floor, other stores are empty, including a former Reebok store.
"Everything is overpriced here," says Vignesh Vishwanath, 21, a computer programmer for Microsoft, drinking coffee with a friend at the mall. "This coffee, for example, is 85 rupees here. At the cafe near my house it is only 60 rupees. You can never compete with the local market."
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Feel free to discuss more on this.

Regards.

[Tsharma]

Hi there!

Ouch! That news was indeed a pain in ear. Man, I always come across these sort of news now and then, I tell you.

So what if most of those retail giants are not making profit that they expected to make earlier? My Question: Will they accept their short term failure and leave their ventures in half-way?

What is the turn off for Indian consumers? Is it cost, inferior quality, or both?

As you may have guessed that neither of the domestic players will leave anywhere, though they may shut-down few stores now and then; but, will struggle towards their existence in the future.

Yes, cost always has been the major concern for any Indian consumer. Quality can come second! Psychologically, as a buyer we relate cost of a product to its quality. I’ve witnessed shopping frenzy crowd outside BigBazar after they announce some new scheme in newspaper the other day. They keep receiving overwhelming response from people. Others have yet to connect the nerve of Indian consumer before they start counting the chickens before the eggs hatch.

I’m sure that you all watch news closely and must have heard the ongoing inflation in market. Let shopping malls alone; increasing oil, gas, and steel prices has made adverse impact on consumers already that they are feeling the heat even they buy their stuff from ‘well-known’ kirana stores next to their home after bargaining. What not rising inflation rates will going to suck up pay packages across most B-schools!

As you may see that unless we have a solution of the ongoing inflation the shopping malls offering superior products have to hear this music because at the end of the day we (as consumers) have to save our well earned money.

Also, government can come forward to implement major changes that encourage buyers. I believe unless the domestic retail organization has their success story in catering billions of people out here the international retail giants will not likely to risk investing fortune here.

Like with any new venture; the Indian retail sector will learn from its setbacks and it will rub its shoulder with matured international retail giants. Let’s try to be a help of some sort!

Thank you.