Page 32 - DMGT550_RETAIL_MANAGEMENT

Unit 2: Retailing in India

Reliance Retail to be launched in India. Reliance Retail Limited (RRL) announced the launch of Notes
a new specialty store “Reliance TimeOut” on Cunningham Road in Bangalore today. This store
houses Books, Music, Stationery, Toys and Gifts.
Spread over 21,000 sq feet and with over 56,000 products, Reliance TimeOut offers the customers
an extensive range of merchandise in Books, Music, Stationery, Toys and Gifts.

Commenting on the launch of Reliance TimeOut, Mr. Bijou Kurien, President and Chief Executive
Lifestyle said “In today’s world, with all the pressures, stress and workload at office, home and
school, we need a place where we can unwind and relax, where we can browse, buy a book,
sample some music, choose a gift, buy a toy, or some exclusive stationery for ourselves. At
Reliance TimeOut, we offer a comprehensive range of products in these categories along with a
fascinating customer experience in a warm, lively ambience”.
Reliance TimeOut also has a range of Academic and Professional books and Vernacular books
in 6 languages, apart from fiction, popular genres and a huge children’s section. To help enhance
this experience the store has a kid’s wall, where kids can cuddle-up with a book. In Music and
Movies Reliance TimeOut have over 12,000 titles sourced from leading international and national
music companies. Listening pleasure is enhanced by the imported sound domes which provide
hygienic sampling of music. Reliance TimeOut also has a Karaoke Studio where the customer
can sing-along with a song of their choice and record it in a professional quality recording
studio. There is also a cafe at the store, which makes Reliance TimeOut a wonderful hangout for
youth and adults alike.

Searching for your favorite music and books is efficiently handled by a search engine and
complemented by knowledgeable and energetic staff, so that customers can easily find what
they want in a store of this size.

Task The music retailer Planet-M success has ensured that there is a scope for organised
music retailing in India. Write an article on the Success story of Planet-M.

Self Assessment

State whether the following statements are true or false:
9. Retailing is the only business where one buys in credit and sells for cash.

10. Rapid globalisation has further made the latest retail clothing ranges accessible all across
the country.
11. More people are involved in the buying, selling and production of clothing than any other
business in the world.
12. Reliance’s books and music store is called the Reliance Trendz.

2.8 Challenges to Retail Development in India

An industry is a group of firms that market products, which are close substitutes for each other
(e.g. the car industry, the travel industry). Understanding the sources of competition can help a
firm gauge its strengths and weaknesses, and analyze the trends in the industry so that it can
position itself optimally for the best returns. Some industries are more profitable than others.
Because the dynamics of competitive structure in an industry. The most influential analytical
model for assessing the nature of competition in an industry is Michael Porter’s Five Forces
Model, which is described below:

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