CHAPTER - 4

LITERATURE REVIEW

A literature review is a explanation of the literature related to a particular field or

topic which is written as part of a thesis proposal, or at the beginning of a thesis. A

critical literature review is a critical evaluation of the relevant literature. Literature1

covers everything relevant that is written on a topic in books, journal articles,

newspaper articles, historical records, government reports, theses and dissertations,

etc..A literature review gives an overview of the field of inquiry and what the key

writers have already said on the topic. It also gives an idea about the general theories

and hypotheses. The review also indicates what questions are being asked, and what

methodologies and methods are appropriate and useful. Knowing the facts requires

the researcher to understand and get in-depth knowledge of the topic. Once the topic

is selected, the researcher will try to carry out a entire study of the available literature

to know the past, present scenario and also to understand the future trend. Literature

review also helped the researcher to know of the deviations in the present study and if

possible to give certain corrective actions.

Several research studies, review, examination, investigation, inspection, assessment,

analysis, appraisal and survey have been undertaken about retailing industry across

the globe and in India. Moreover, this one may also find articles in newspapers,

business magazines online and off line pertaining to Consumer Behaviour and

Retailing Industry of the globe as well as in a particular country. Important of them

are as under.

As per 2015-16 Outlook for the Retail and Consumer Products Sector in Asia , A

report published by P.W.C.,www.pwc.com Asian retail sales are expected to

amount to over US$10 trillion by 2018.China is expected to become the world’s

largest retail market by 2018 but growth is slowing and attention within China’s retail

markets is increasingly shifting away from physical retail towards fast growing e-

commerce channels. E-commerce is becoming a focus for retailers and brand owners,

with China becoming the world’s largest e-commerce market and its leading e-

commerce player, Alibaba, launching a record setting IPO. Other Chinese and Indian

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fi

e-commerce IPOs are also set to generate significant investment, with a number of

incubator projects also in place across the region. Interest in India will remain

significant but will be hampered by government opposition to foreign investment in

multi-brand retail. As a result, foreign investors will be focused on single brand retail

and paying close attention to the mooted liberalization of e-commerce channels as a

means of developing the market1.

As per the article published in Dandesh Newspaper, dated February,2015 the

conclusion is that the new address of new customers in India is Online Shops. The

market size of Indian Online Shopping business will increase. Customers are of the

opinioned that they will buy more from online shopping stores in 2015 than 2014".

As per the Pulse of Indian retail market — A survey of CFOs in the Indian

retail sector -March 2014 , carried out by Retailers Association of India Indian

retail market is expected to grow at a CAGR of 13% till 2018. Organized retail market

in India is burgeoning and is expected to grow at CAGR of 19-20% over the next 5

years. The Government of India, through its reforms in FDI for retailing seems to be

repositioning the Indian retail sector on the global map of investments. Gradual

liberalization of FDI policy for retailing in India has increasingly propelled global

retailers to evaluate a foray in the Indian market. Furthermore liberalization/

modifications in the policy could result in speeding up the process of setting up and

expansion of operations in India111.

As per the report published by KPMG on Indian Retail- The Next Growth

Story—In the coming years— 2014 lv, about 70 % of world’s growth is likely to

come from emerging markets, with 40 % contribution from India and China alone.

Prof. Kalpana Singh (2014)v,The present research study carried out by the author

conclude that Indian retail sector is evolving quickly. The size of India's retail

industry is expected to more than double to $1.3 trillion by 2020.

Akram Hafiz Wasim, Anwar Mohammad and Khan M. Altaf (2014)VI,In the

research papers authors have tried to discuss on growth of organized and modem

retail retaliating which have favorable effect on the Indian economy and considered

as India’s backbone in terms of employment generation after agriculture.. The entry

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of private brands are generating demand and sourcing tie-ups with manufacturers

across products.

As per the article published in Business Standard Newspaper,( 2014)v” ,dated 31st

December,2014 Brick -&- Mortar Retailers also keen on digital footprint . As on

today there are 35 million online shoppers are there in India and is likely to have

around 100 million by 2016 according to recent research by Forrester Consulting and

Google

As per report of equitymaster.com (2014)Vl", India is the 5th largest retail market in

the world. The country ranks fourth among the surveyed 30 countries in terms of

global retail development. The current market size of Indian retail industry is about

US$ 520 bn (Source: IBEF). Retail growth of 14% to 15% per year is expected

through 2015. By 2018, the Indian retail sector is likely to grow at a CAGR of 13% to

reach a size of US$ 950 bn. Retailing has played a major role the world over in

increasing productivity across a wide range of consumer goods and services. In the

developed countries, the organized retail industry accounts for almost 80% of the total

retail trade. In contrast, in India organized retail trade accounts for merely 8-10% of

the total retail trade. This highlights a lot of scope for further penetration of organized

retail in India.

Kamal and Ashish Kumar(2014),x, concluded that Indian retail sector has

experienced high growth rate over the last decade with a visible shift towards

unorganized retailing to organized retailing formats. The retailing industry is moving

towards a modern concept. The size of India's retail market was estimated at US$ 435

billion in 2010. Out of which, 92% of the market was traditional or unorganized retail

and 8% of the market was organized retail. India's retail market is expected to grow at

7% over the next 10 years, reaching a size of US$ 850 billion by 2020. Traditional

retail is probable to grow at 5% and reach a size of US$ 650 billion while organized

retail is probable to grow at 25% and reach a size of US$ 200 billion by 2020.

In the opinion of Ms Priya Vij (2013)x ,the idea of retail is ancient in Indian

context. There is existence of grocery stores, medical stores and lot many other stores

working surprisingly excellent. It is the fear in the mind of the people that entry of

modem shopping malls will force the local retail shops to be closed but people

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should never forget how deep rooted is this old concept. The very modem organized

stores have taken the idea of retailing nowhere else than from these old shops.

Adil Zia, Khalid Mohammad Azam (2013)*' in their research has explored fifteen

dimensions and from this eleven have optimistic impact on shopping experience

which are /acknowledgement”, “place to enjoy”, “store service quality”, “returns and

exchange”, “shopping convenience”, “reliability”, “transactions”, “merchandise”,”

product variety” and “store appearance” and remaining four which have negative

impact on shopping experience in unorganized retail are “Shopping time”, “complain

handling”; “physical aspect” and “loyalty programs” lead to negative impact on

shopping. According to the writer, the customer while shopping takes all aspect of

retail outlet into consideration.

R.K.Srivastava (2013)5 " in his research paper on comparative s:udy, branding of the

retail store is actively followed in South Africa but in India retailers perceives it as a

part of business. Security system on purchase & prevention of theft is good in South

Africa than Indian system and it has to be developed as a prime concern.

Lakshmi Narayana K, Ajata Shathru Samal and P Nagaraja Rao (2013) xmhave

explored that unorganized retailers which are nearby organized retailers are affected

in terms of margin and turnover . There are certain factors that be a focus for

unorganized retailers tc consumers are nearness, goodwill, credit sales, bargaining,

loose items, convenient timings, and home delivery.

In the opinion of Ms. Monika Talreja and Dr. Dhiraj Jain (2013) X1V, modem and

traditional retailers will co-exist in India in a years to come as they have their own

competitive advantages. Traditional Retail shops have low- cost structure, location

advantage, and customer familiarity and on the other side shopping malls offer

combination of product width and depth and excellent buying / shopping experience.

Modem retailing is becoming a mart to shop for buying fresh fruit and vegetable.

Naganathan Venkatesh (2013)xv, in his research paper has pointed out overall

forecast from different researches have highlighted that retail growth will grow

more that 10 % in a years to come that is based on strong fundamentals of

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macroeconomic conditions of India and its younger population ,rising disposable

incomes and rapid urbanization. Eye catching factors for foreign retail investors are

the younger population of India’s who are under the age of 25, a huge potential

market is waiting to explore and the internet accessibility is also a key factor where

from rural to urban city everyone has the easy access to the internet.

According to Deloitte (global powers of retailing 2013)xv,,a strong retail strategy

must include: a strong vision of the experience the customer desires across all

channels, a lively operating model that can adapt as the retail environment changes, a

deep understanding of how to support the vision through inventive digital solutions

and retail technologies, such as playbooks to operationalise the Omni-channel strategy

M. Hameed unissa (2013) xv" ,in his paper consumer psychology towards

supermarkets has discussed how people’s thoughts, beliefs and perception influence

consumer behavior. The role of consumers psychology has been elaborated that how

it affects a consumer towards buying from any type of retail format.

Anuja Shukla, Ankur Shukla (2013)xv”', the authors have concentrated on changing

preference of customer from traditional retail to emerging new retail formats (

shopping malls ). worth of customer to be treated as a king can be seen today because

of the competition. The shopping experience has been increasing due to increase in

the share of organized retailing.

Dr.Pawan Kumar (2013)XIX,concluded that Retailing offers a essential connection

between manufacture and consumers . In India retailing is mos~ vibrant industry and

represents a enormous chances to flourish for domestic and international retailers.

Shopping malls is not danger to traditional retailers as most of the consumers

replied that they never stopped visiting traditional retail shops and agreed that there

is coexistence of both .Their frequency of going to kirana stores is reduced but it is

an opportunities for them to rethink to attract.

Rahman Tazyn (2012)xx,has described India as a potential goldmine. It has been

ranked 2nd in Global Retail Development Index of 30 developing countries drawn up

by A.T.Keamey. Government is positive to open the door for the foreign retailing

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giants to enter into the Indian markets and many foreign investors giving indication

to enter into the Indian market.

Gupta Himanshu, Dubey Neetu and Patani Pawan (2012)““, concluded that in

India organized and unorganized retail sectors can co-exist and flourish. The

development in the Indian organized retail market is owing to the change in the

consumer’s behavior like increased income, changing, lifestyles and patterns of

demography .Indian consumer wants to visit that shopping malls where they can get

food, entertainment, and shopping all under one roof.

Mitul Deliya ,Bhavesh Parmar and Dr. K. K. Patel(2012)xx" have carried out the

research study on the impact of organized retailers on unorganized retailers and

concluded that there is a decline in footfall of the customer visiting unorganized retail

due to emergence of more organized retailers.

In the opinion of Rama Venkatachalam and Arwah Madan(2012)xxm the

customers does not alter their parameters to buy groceries either from organized or

unorganized retailers. So far as quality and display of the products are concerned

organized retailers are more favored by customers than unorganized retailers. Price is

important parameter for the customers to select a retailer.

Urvashi Gupta (2012)xx,v in her study have elaborated that the organized retailer are

suffering with their billing facility problems which need to be rectified and need to

offer value added facilities to attract more and more customers . range of variety to

the customers.

U. Dineshkumar and P.Vikkraman (2012)xxv In the opinion of the authors

shopping malls offer better quality of service, product range as compared to the

traditional retail outlets and value added Services provided by the shopping malls

turn into to better customer satisfaction generate more business. The parking facility

is a major issue with most of the shopping malls.

According to Panneerselvam S(2012)XXV1. Indian organized retail sector is rising and

the role of supply chain becomes more important because the retailing activity is

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possible if the product has reached to the shelf. Growth of the organized sector is also

improving the supply chain of our country.

Quazi Zubair V (2012}xxv", is of the opinion that Retail segment is Flourishing year

by year in India offering employment opportunities for larger population of India in

every geographical area. As Indian retail sector is rapidly growing, the organized

retailers are doing their expansion & entering into new market / segment/ area and

are giving lucrative salary to the employees to get good talent & to retain best talent.

It is the great opportunity for the youngsters of India to get good job. But at the same

time if they want a good career in this sector they need to develop their skills,

qualification & need to do quality hard work.

Sanjay Manocha and Anoop Pandey (2012)XXVI11, has conclude modem retailing is

not danger to traditional retail shops as consumers replied that they are visiting both

form of retailing. Organized retailing is advantageous for India because it’s not

disturbing to unorganized retail stores but reshaping unorganized stores into

promising organized stores. The author has also discussed the growth of modem

retailing in India which is not at a very fast pace.

According to Dr. Ramnathan V. and Dr. Hari K.(2011)XXIX, customers prefer to buy

products both from organized and unorganized retailers due to changes in the

demographic system of customers and the awareness of quality consciousness

consumption and retailers provide various value added services to customers for their

pleasant shopping experience.

Kushwaha(2011)xxx,compared the perception of consumers in both local retail shops

and modern shopping malls and realized there are several factors that affect

traditional retailing shops.

Kumar(2011)xxxl,studied on the strategies of grocery shops with reference to

consumer durables products and found that a product strategy which means

merchandise is the most vital factor followed by price, distribution and promotion.

Mittal and Parashar (201 l)xxx",elaborated that irrespective of area customers prefer

to retail shop to be nearby. Product variety is important for grocery business.

Subhadip Mukherjee’s study(2011)xxx,,,, reviews the government policies of

different countries including India with reference to unorganized and organized retail

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sector. The study examines whether, for the small and unorganized retailers to sustain

in this big fight the government provides a tight legal framework along with economic

support. The study finds that small as well as big domestic retail chains had been

helped by the governments of different countries (including India) through

formulating appropriate policies over time, by providing capital support and/or

formulating strict legislations to restrict entry of foreign retailers in their respective

countries. In India, all the regulations regarding retail sector varies across states and

their impacts are also heterogeneous since these regulations are still in state level and

are being influenced by the existing political parties of different states.

Sivaraman(2010) XXXIV, evaluated customer approach toward traditional retailers on

the parameters of store images, variety of products, brand preference , price, store

surroundings , credit availability, shop nearness. The conclusion of the research study

is that grocery shops are facing cutthroat competition from the shopping malls and

resulted into downfall in sales, profit, and employment.

Bajaj Chetan, Tuli Rajnish and Srivastava Nidhi (2010) xxxv, in their book Retail

Management1 highlighted on various new formats and packages related with retail

industry in India as a result of LPG economic policies and boost given by the Ministry

of Commerce and Trade to economic development in India. From the authors1 point

of view, retailing consist of all activities involved in selling things and services to

consumers for their personal, family and/or household use.

Lahiri, Isita and Samanta, Pradeep Kumar (2010) xxxvl,in their paper titled Factors

influencing purchase of apparels from organized retail outlets mentioned that apparel

segment of retailing has a large share in organized retail business and customers are

more quality conscious than price.

Banerjee, Mohua and Dasgupta, Rajib (2010) XXXVII,in their paper titled Changing

pattern of consumer behaviour in Kolkata with advent of large format retail outlets

exposed the acceptance of mall culture in the city along with the reasons for such

acceptance.

Cherukuri Jayasankara prasad ( 2010)xxxvl,,,has studied the multiple discriminant

analysis for the various existing retail formats considering physical surroundings

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(ambience, store design and visual merchandising), task definition (regular purchase,

purchase in large quantities and getting ideas / knowing new products), perceived risk

(time, financial, and physical), temporal aspects (time spent and convenient timing

hours), and social interactions and experiences have significant affect on supermarket

and hypermarket store format choice decisions.

Kamaladevi (2010)XXXIX, pointed out that, to vie profitably in this business era, the

retailers must spotlight on the customer's buying experience. To manage customer's

experience, retailers should understand what customer experience' actually means.

Customer experience management is a tactic that focuses the operations and

processes of a business around the needs of the individual customers. The objective

of customer experience management is to move customers from happy to trustworthy

and then loyal to campaigner.

Goswami& Mishra (2009)xl, tried to know whether consumers are probable to move

from Kirana shop to shopping malls for buying groceries. The research finding

highlighted that both local retail shops and modern shopping malls have some

competitive advantages over other.

Das & Kumar (2009)xl‘, observed the effect of promotion schemes on consumers

shopping experiences and research finding disclose that keeping product satisfaction

constant, sales can be raised by improving shopping experience that includes ease

in shopping,, easy check in and checkout ,good sales people and customer centric

selling policies. Buying behavior for the same product under same promotion at

different stores may differ because difference in shopping experiences provided by

different stores.

According to V. Ramanathan (2008)xhl, Customer relationship management is very

helpful if it work efficiently with reference to the retailing sector in India. It allows

retailers to gather customer data swiftly, identify the most voluble customers over

time, and increase customer loyalty by providing customized products and services.

Goswami (2008) xl,1‘ inquired into the shopping experiences in

Kirana stores and in modern stores. The major finding suggest Kirana stores need to

improve or to enrich shopping experiences. Kirana shops also have to remain vigil

about the marketing environment , try to upgrade and have to improve on service

quality while concentrating on innovation and efficiency.

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Indian Council for Research in International Economic Relations (ICRIER) (2008)X|IV developed research report Titled” Impact of organized retail on the

unorganized sector” indicates that there is good prospect retail trade as retail trade

alone accounts for 41.83 percent job opportunities with 14.95 million employed in the

sector.

Sasikumar, K. and Sibicletus, Regina (2008)xlv, in their paper Impact of Corporate

retailing on small retail outlets pointed out that small retailers are being affected

resulting in major social problems in the city of Cochin because of entry of corporate

backed organized retailers.

Daxini, Susmita (2008)xlv,,in the article Retail Food Sector in India talks concerning

the growth of food retail by giving reasons like increasing rate of working women,

growing urbanization, increasing purchasing power etc.

Levy,Michael;Weitz, Barton A.and Pandit, Ajay (2008)xlvn, in their book titled

Retailing Management have concentrated on widespread field of retailing,

significant issues in retailing, globalization of the retail industry, types of retailers,

buying behaviour etc.

Noronha, Mariam and Mulla, M.G. (2008)xIvm, in their paper Consumer

perspectives on jewellery retail: A study of Pune city discussed consumer viewpoint

on jewellery retail, their thinking on design and price, satisfaction, choice of outlets

for purchase, future possibilities and so on.

Olson et.al (2008)xl,x, concentrated on the fact that consumers’ response to different

types of marketing strategies is the major question to be answered.

Gupta, Agarwal and Sinha(2008)', in their article explained that marketers should

give a chance for the customers to experience their products/services before

purchasing. It is expected that after experiencing the product the buyers could assess

the quality. This strategy could act as a word of mouth publicity .

Ramanathan and Hari (2008) h,discussed that in future the number of large size

retailers will be more and Indian market is constituted by various types of retailers

at present and among them small-sized retailers are more in number. Mass media

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and word of mouth publicity are main source of information sources for middle class

families. Indian customers are smart and intelligent in deciding their requirements

from the given information retailers should use the mass media to some extent.

Kuruvilla and Ganguli (2008)11', narrated that shopping develops an important

feature in the life of people, as they are becoming financially sound to do purchase

from shopping malls and they begin to consider the shopping value as an important

factor along with the price of the products. In 1990s the modem trend in shopping

mall concept had been introduced by Spencer Plaza in Chennai and Crossroads in

Mumbai. After that, there has been a great improvement in this modern concept.

Kumar (2008)1"1,explained that in India, after agricultural field, retail is field which

offers lots of employment opportunities to the people directly or indirectly and

approximately forty million individuals are engaged in retailing business .

Mathew Joseph(2008)liv, concluded that local grocery shops in the surrounding area

of organized shopping malls resulted in downfall in their turnover and margin in the

initial years after the entry of shopping malls . The unfavorable impact on sales and

profit reduce over a period of time. There is no confirmation of a decline in overall

employment in the unorganized sector as a result of the entry of shopping malls.

Armstrong et.al (2007)lv, discussed that buyer’s black box is the vital point that

business organizations and other actors in the market have to discover from various

researches. Authors are of the opinion that culture is one of the main external factors

that have a huge effect on consumer behavior and consumer behavior is almost a

learnt process and culture has power on our behavior.

Baseer and Laxmi (2007) |VI,concentrated on marketing strategy adopted in china

like to take test drive at sales place like automobile cities while in computer cities

customers are allowed to observe and operate the presented products like digital

camera and PCs. Internet is an successful media for product promotion. Word of

mouth publicity has both advantages and disadvantages and it is necessary to follow

well planned careful steps to increase the advantages and to reduce the

disadvantages.

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In the opinion of Piyush Kumar Sinha & Sanjay Kumar Kar (2007) lv", India’s

retail development is inevitable. Most of the organized retailers in India are harping

on quality, service, convenience, satisfaction and assured benefits to lure shoppers

into the store. Retailers should create value for the consumer and must decide suitable

vehicle to deliver desired consumer value.

Kalhan (2007)|VI", analyzed the effect of shopping malls on nearby grocery shops

and there is downfall in the turnover of traditional retails shops due to superior

shopping environment, convenience, availability of variety, ambience of shop, and

availability of parking space and perception of quality of products sold in shopping

malls.

Terblanche&Boshoff (2006) hx, mentioned that retailers / marketers will have to

recognize that it is not only what they are marketing but also how it is done. The

personal (face-to-face) interactive between retail staff and shoppers is of critical

importance.

As per MRI report(2006) lx,Indian organized retail sector might get a business of

around one thousand billion Indian rupees in 2012, if the present performance is

maintained.

Backstrom& Johansson (2006) 1x1, cogitated factors that influence consumers in

store experiences. Shop experience are decided by traditional values such as the

performance of the personnel, a satisfactory choice of products, price and a layout that

facilitates the store visit.

Irudaya Rajan (2006) Ix", explained that as per the population report, there are 192

million families in India. Around 6 million families have yearly earnings of more than

INR 2, 15,000. He also added that seventy five million households have a range of

annual income between INR 45,000 and INR 2, 15,000. As the Indians have started to

receive high packages they could manage to pay for amusement, food and beverages

and nightlife.

Bhatnagar and Ghose (2004)Ixi",explained that the promotional activities targeting

only on developing the image of the business will not create any outcome amongst the

customers .The Indian customers are experts in identifying the necessary information

and will not change their priorities at any cost while selecting the brands.

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Sinha & Banerjee (2004) lx,v,observed the parameters of store preference in a

variety of product categories. Study highlighted that Indian consumers of

unorganized retail market do not require the service belongings offered by many

retailers. Store environment plays a vital role for store patronage and repeat purchases

which includes convenience, value for money products, etc.

According to Dholakia(1999) lxv, The justification for shopping is making visit in

person to a shopping site . It is presumed to be as a household task as well as a form

of recreation, relaxation and entertainment. Shopping is most positive attribute of

being a leisure activity along with work.

Loudon and Della (1993) lxvi recognized that the function of several parameters

involve the customers motive for store choices like store design, store employees,

advertising and sale promotion, merchandise assortment, physical facilities, customer

services which have a larger impact on the store selection.

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II Sandesh Newspaper, dated 21s1 February,2015.

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