Project Report For Kirana shop
Project report for Kirana shop is as follow.
In India, a Kirana shop is a small local business. These little stores provide a wide variety of foodstuffs and everyday necessities such as sanitary items, snacks, cigarettes, and so on. These Kirana establishments are often referred to as supermarkets, C-stores, or grocery stores. These convenience stores can also be placed at fuel pumps or gas stations to meet the basic needs of customers while they are on the road. Because small businesses have little stock, they do not provide any sort of discount or bargain like a supermarket or grocery store may give. As a result, the prices are substantially higher than at dinner stores. These businesses may provide everything you require, but only at a specific time because they are only open for a few hours each day at the discretion of the owner.
Modern technology has altered the world in such a manner that not even a single day would be conceivable without it. It has accomplished in actuality what was only a fantasy a century ago. You can now order a cab to your home, buy trendy items, and have meals delivered to your house. However, there are certain elements that haven’t changed or may be modified with time or technological advancements, such as Kirana shops. There are several variables available that have kept Kirana shops alive and well as never before, including the following:
- They are easily accessible. Whenever you are in need of something, these businesses are open to you.
- There is no need to wait for supplies. You may go to your local store and buy anything in no time.
- It offers a wide selection of typical products that consumers require. But only in a restricted sense.
- They can readily analyse customer requirements and desires because they work on and from a local level.
- If you are a frequent client, they will also deliver to your home.
- At the moment, the country has around 12 million Kirana shops.
- Few individuals still believe in buying things in person, that is, buying a product after seeing its characteristics with their own hands. It is also known as human interfacing.
Market potential & Strategy
The retail industry in India has seen considerable development and transformation during the last 10 years. The entire size of the Indian retail industry was $290 billion in 2010-11 and has since increased to $923 billion in 2020. India is now the world’s fourth-largest retail market, with a projected increase to $1.3 to 1.6 trillion by 2029. The retail environment in India is primarily unorganised, with merchants accounting for 89percent of the total retail sector; it is a country of shopkeepers. This unstructured component, also known as the informal segment, is made up of 16 million Kirana and neighbourhood businesses. These establishments play an important part in the Indian retail industry, which accounts for almost 11.8 per cent of India’s GDP and 9 per cent of its entire employment.
Unfortunately, there has been a shift in customer buying habits during the last few years. Customers are increasingly purchasing online, at supermarkets, or in bigger contemporary shops, and as a result, Kirana businesses are losing customers. By 2022, the percentage of commerce controlled by Kirana shops is anticipated to fall from 88 per cent to 75 per cent. Some of the factors leading to the share decrease include, but are not limited to, a lag in the implementation of contemporary retailing practices such as digital payments, stock management, or even an official shop layout. This growing impact in the informal retail category can be mitigated by modernising Kirana shops.
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