vikram chawla
Vikram Chawla
In the recent past the Urban India has witnessed huge, multi-storied retail structures coming up. This is considered to be one the latest and greatest developments in the Indian sub-continent next to the IT boom in the 90's. How this does happen and very importantly why does this happen? The reason is only one. The Urban Indian Consumer is up for a new, world-class retail experience. Thanks to the Internet which gave them the virtual buying experience for brands some where else in the world.
If at all the pace with which organized retail grows in the market, simultaneously the customer expectations for the best of retail experiences also grow at a faster rate. Given these developments what are the strengths this sector has over the traditional form? Here are few of these:
* The bulk of investments in this form of retailing.
* The entrance of corporate houses with experience and thorough knowledge of whats and hows of Indian consumers.
* Greater product assortment across categories
* Technological advantage with modernization at its best.
* Range of retail formats right from neighborhood to hypermarkets.
* Contemporary professional retail practices offering the newer retail-mix to the customers.
* High street locations attracting large no. of foot-falls into the stores.
* Nation-wide large retail chains offering similar assortment in most of the categories
* Higher degree of awareness among the target group.
* Consistent Brand building measures and unique promotion offers in place.
If at all the pace with which organized retail grows in the market, simultaneously the customer expectations for the best of retail experiences also grow at a faster rate. Given these developments what are the strengths this sector has over the traditional form? Here are few of these:
* The bulk of investments in this form of retailing.
* The entrance of corporate houses with experience and thorough knowledge of whats and hows of Indian consumers.
* Greater product assortment across categories
* Technological advantage with modernization at its best.
* Range of retail formats right from neighborhood to hypermarkets.
* Contemporary professional retail practices offering the newer retail-mix to the customers.
* High street locations attracting large no. of foot-falls into the stores.
* Nation-wide large retail chains offering similar assortment in most of the categories
* Higher degree of awareness among the target group.
* Consistent Brand building measures and unique promotion offers in place.