FORECOURT RETAILING -ISSUES AND OPPORTUNITIES

Registration ID: IJNRD_301281

Published ID: IJNRD1801008

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Nagaraja M

FORECOURT RETAILING -ISSUES AND OPPORTUNITIES

Retailing, in India, has been growing at a rapid pace over the past decade. More importantly, it has witnesses significant transformation in terms of retail mix (organized vs. Unorganized), the quality and scale of retailing, the varieties of retail formats, and also change in consumer preferences and shopping habits. The face of fuel retailing outlets in India is no more restricted to the sale of fuel alone. The oil marketing companies (OMCs) are today looking at alternative revenue streams to make up for some of the losses incurred in the sale of fuels. Petrol retail outlets provide the right framework for setting up convenience retail chains where the consumer has the opportunity of combining shopping with the fuelling occasion. Non-fuel retailing has been beneficial both to oil companies and to retailers. These outlets fit in with the strategies of major supermarket groups - which are constrained by planning restrictions on large out-of-town stores - to focus on smaller outlets; while for convenience chains, they offer a means of reaching a wider consumer base. The range of non-fuel products sold by forecourt shops is growing, and includes items such as soft drinks, hot and cold snacks, confectionary, groceries, newspaper and magazines, etc. Currently, in India, the prevailing non-fuel retail formats have their presence in urban and rural areas. These stores are operated by dealers on revenue sharing basis with the oil marketing company. In India this model of transformation is going on and would definitely in coming days it would contribute more to the retail and have wide range of services. And this provides all the oil companies to enter into the tie-up with the convenience stores, so petrol destinations are now one of the preferred destinations. This paper highlights the factors influencing forcourt retialing, developments in non-fuel retailing at fuel stations, opportunities in forecourt retailing and the various non-fuel retail formats.

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Nagaraja M (January-2018). FORECOURT RETAILING -ISSUES AND OPPORTUNITIES. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 3(1), 47-52. https://ijnrd.org/papers/IJNRD1801008.pdf

Volume 3 Issue 1, January-2018

Pages : 47-52

Paper Reg. ID: IJNRD_301281

Published Paper Id: IJNRD1801008

Research Area: Science and Technology

Author Type: Indian Author

Country: -, -, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD1801008.pdf

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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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