Industry veteran Kodandarama Setty and modern retailing connoisseur Kishore Biyani share their views on the changing landscape of the Indian Retailing sector.
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Wal-Mart is a strong contender among several other retail MNCs vying to operate in India. How would you foresee the retail landscape after its entry? Say for next two years, five years, and after a decade?
Kodandarama Setty (KS):Wal-Mart's entry into India will redefine the retail landscape in India drastically and for the better. They will bring in a lot of best practices, processes and systems which will drive efficiencies into our current business model.
Kishore Biyani (KB): Even without the entry of foreign retail companies, the retail landscape in India is extremely competitive. The past couple of years have witnessed a flurry of activity in this sector. Existing players have ramped up operations by setting more stores and entering new cities. They have also launched new formats, some examples: Trent has rolled out a discount hypermarket store, Shoppers' Stop has announced plans for a hypermarket chain, Spencer's is spreading to other locations. In addition to this, many new players have already announced their plans to enter this fast-growing market, this group includes Reliance, Bharati, Hero Honda, Jubilant, etc. So the retail sector is geared for intense competition in the next couple of years. The entry of foreign chains will add to the level of competitiveness. This will have a twofold impact, it will broaden the existing modern retail market and at the same time, benefit the customer with more offerings, better prices, etc.
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