Vishwakarma Business Review

Abstract

Traditional marketplaces and high streets have been a part of Indian and foreign retail scene for centuries. They bear heritage character and social value for the community. In every country, macro and micro environmental factors affect the retail development of an individual firm and a marketplace. It has been observed that some traditional marketplaces and high streets have flourished due to presence of national and international brands as an effect of globalization and liberalization. On the other side, few of these places have declined due to emergence of modern marketplaces like shopping centers/malls, online retailing and some other reasons. Every traditional marketplace or a high street has a unique character due to its physical and commercial features, which influences marketing strategies of retailers at these places. So, let it be growth or decline, in both situations it is advisable to study these places thoroughly.

Development in itself is historical in nature. Retail development is a historical process. So, study of retail development represents the area of historical research in marketing management. In the present article, earlier research studies related to retail development at traditional marketplaces and high streets been analysed with two objectives - (1) To check interest of researchers in historical perspective on marketing management, (2) To find out the topics, perspectives and nature of earlier studies on retail development at traditional marketplaces and high streets.

It has been found that in many earlier studies, researchers have written retail history as a part of social history. Other researchers have focussed on individual development of retail firms in terms of establishment of the firm and development of ideas, products and marketing strategies. The location where the stores under study exist has not been given much importance. There are more descriptive studies than analytical studies related to this topic. Most of the earlier studies have been either made one time or intermittently. They lack in historical perspective as time span considered in many studies does not exceed five years. In foreign countries, there is a growing interest amongst researchers for historical research in marketing, but in India there is not much awareness about need and importance of the same.

The present article strongly recommends the need for historical perspective on the study of retail development at traditional marketplaces and high streets in India. Each of these places should be considered as a separate topic of research by academicians and scholars.

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