When we use word corporate an image of large industry, a big business hose, a MNC engaged in multiple trades is visualized in our minds. The waves of globalization and world trade are on the high tides and slowly but surely are on the way of taking control of every business and trade all over the globe, India is not an exceptional case, in fact being the second highest populated country is the prime object and field ground for the much desired boom in the sector, A spark can be seen in the eyes of corporate world all over the globe with the pronunciation of the country name. The domestic corporate sector has already started their efforts in the direction of getting benefited from the new way and style of business called “Retailing” and a new term “Corporate Retailing” is spreading it wings to kill the traditional retail markets of the country.
A few days back I got a SMS on my mobile about the inaugural discount offered by newly opened “Big Bazar” a departmental store in the city. I have tried to find out affect of this SMS campaign by the stores, in my friend circle I enquired almost 100 people and almost 90 said that they have read that. A high 60% people responded to it and visited the store though just 4% of the visited people purchase beyond the limit of offer and were eligible for the discount but it is also fact that a sounding high 56% people have spend some money at store for buying this or that. It is the clear picture of working strategy of the corporate houses when it comes to retailing.
Reports says that though in India only every fifth citizen is with the tendency of shopping but even then the retail market is showing a mouth watering annual growth of over 70%, The retail market which was sizing about Rs. 12,00, 000 carores at the beginning of the year 2006, went to touch Rs. 12,80,000 carores by the year end. In fact this Everest growth aspect attracting the corporate sector for an entrance in the retail market beside that some fundamental facts are also favoring their entrance in this non traditional sector of corporate world.