Retail

Retail Industry Overview

Retailing is one of the pillars of the economy in India and accounts for 35% of GDP. The retail industry is divided into organised and unorganised sectors. Over 12 million outlets operate in the country and only 4% of them being larger than 500 sq ft (46 m2) in size. Organised retailing includes the corporate-backed super markets, hypermarkets and retail chains, and also the privately owned large retail businesses. Unorganised retailing, on the other hand, refers to the traditional formats of low-cost retailing, for example, the independent local grocery shops, owner manned general stores, paan/beedi shops, convenience stores, hand cart and pavement vendors, etc.

Most Indian shopping takes place in open markets and millions of independent grocery shops called kirana. Organized retail such supermarkets accounts for just 4% of the market as of 2008. Regulations prevent most foreign investment in retailing. Moreover, over thirty regulations such as "signboard licences" and "anti-hoarding measures" may have to be complied before a store can open doors. There are taxes for moving goods to states, from states, and even within states.[3]

Challenges in the Retail Industry

1. Automatic approval is not allowed for foreign investment in retail.
2. Regulations restricting real estate purchases, and cumbersome local laws.
3. Taxation, which favours small retail businesses.
4. Absence of developed supply chain and integrated IT management.
5. Lack of trained work force.
6. Low skill level for retailing management.
7. Lack of Retailing Courses and study options
8. Intrinsic complexity of retailing – rapid price changes, constant threat of product obsolescence and low margins.

Solutions offered

LS Retail is an end-to-end retail solution, powered by Microsoft Dynamics. This integrated solution delivers the breadth and depth of functionality demanded by the busiest retailer without the need to build, manage and maintain multiple applications and interfaces. Its unique use of a single application to cover everything from the POS terminals, store systems, and all the functions that you would expect to find at head office sets LS Retail apart from other solutions in the market.

Through LS Retail you can:

•  Reduce total cost of ownership by
•  Ready for a change in your business and customer behaviour
  
• Increase efficiency
• Dynamic systems initiative
• Allow business transparency while
• Make up-to-the minute decisions (Reports??)
• Fewer mistakes

The solution has in built HO functionalities such as finance, accounts, taxation, HRM, price fixation, sales promotion management, purchases, etc. The solution also has all the functionalities needed by stores such as Point of Sale (POS) for billing, store management, etc.
In addition, there is a specific solution available for hospitality industry covering all aspects such as property management, front desk management, restaurants and banqueting, housekeeping management, etc.