Letter from the Chairman

I really appreciate the recognition given to our efforts on innovation, I thank 4Ps B&M and Planman Media for bestowing This honour on me and Kingfisher.

Dr. Vijay Mallya, Chairman, UB Group

Retail development indicates economic development as well!

Refer your cover feature in Vol 1, Issue 18, ‘Indian Retail wars’. It was a good read about the various business houses foraying into the retail sector. But more surprising is the fact that the organized retail sector after all the talk that we have in various media accounts only to a meager 3% of total retail sector. Personally, I believe that the development in retail sector and all the hyper-marts et al are a positive and visible indicator towards infrastructural and economic development. However, the sad part of such development is that the businesses are concetrated on catering to the high-end consumer segment rather than the masses. Perhaps that’s the reason which will also hinder the growth of organized retail sector. Though I am not an expert, I would suggest that these retail giants must strategically focus and commit towards serving the masses of India for, it is a segment with great potential, which is all extracted by the unorganized retailers alone. Innovative strategies and solutions need to be designed to tap this particular segment as well, big time.

Aryan Paul, Lucknow

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Source:- IIPM Editorial

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