Recent trends in indian retail industry marketing essay

Why e-content is of supreme importance to new age brands?

Recent trends in indian retail industry marketing essay

Acceptance of credit cards It is almost doubly important than retailer suggestion push. There is a very thin line between schemes and brand name.

Recent trends in indian retail industry marketing essay

This means even a new brand backed by good schemes and reasonable price can find favor with the customer. Also providing incentives to the retailer to push the brand may not be a sound strategy after all. Displays scored better than retailer suggestion. This implies eye-catching displays can do wonders to brand sales.

Key success factors for a display are: Sales force must be aware of the objective of the display and the retailer must share the same. The retail outlet must fit the profile for the display strategy. All key elements of design and merchandising must be coordinated to get the right effect.

Sales force must scan the surrounding environment to gauge the effect of climate as well as competition on proposed place of display. The height of display must be such that it meets the eye level of customer.

Above all displays must be eye catching. Hence some time must be spent to maintain the display on repeat visits by sales force. Offering flat rates on specific days is also becoming common at discount stores such as these. At the same time retailers must focus on the most demanding customers who want customization, value and service.

In this environment, merchandising and esp. Impact of retail sector in India: In India, the retail sector is the second largest employer after agriculture. The retail industry in India is enjoying boom time and job opportunities in retailing have been increasing.

In fact, retailing has emerged as a new stream of management curriculum, providing new areas of employment. The retailing sector in India is highly fragmented and predominantly consists of small independent, owner-managed shops.

Given the size, and the geographical, cultural and socio-economic diversity of India, there is no role model for Indian suppliers and retailers to adapt or expand in the Indian context. Consumer response to supermarkets has been moderate because most do not have access to transportation to a supermarket and are still in the habit of buying fresh produce daily from local stores.

Recent trends in indian retail industry marketing essay

This is mostly due to the proximity to homes and personal service of local stores. Self-serve supermarkets are a more recent phenomenon in India. These self-service stores stock a wide range of groceries, snacks, processed foods, confectionery items, and cleaning and personal care products.

Many shoppers also have the perception that prices are higher at supermarkets because they are large, brightly lit, and air-conditioned.

Retail 2020: Trends In India

Higher-income consumers focus more on convenience and quality. In urban India, families are experiencing growth in income and dearth of time. More and more women are also turning to corporate jobs, which is adding to the family income but making lifestyles extremely busy.

Rising incomes has led to increasing demand for better quality products while lack of time has led a demand for convenience and service.

Government Policies Government of India or for that matter, any of the State Governments do not even consider this sector worthy of being deemed as an industry status or to formulate any strategy or directive to support or nurture it. Foreign Direct Investment FDI in the retailing sector is not permitted yet, in order to protect the interests of the small retailers.

There is a strong lobby of small traders that has been vocal on the issue of not permitting FDI into retail. The lobby is based on the premise that modern retail will impact the livelihood of millions of small family-run businesses. Sincethe government has barred foreign participation in the retail sector, except for the cash-and-carry wholesale route where wholesalers cannot open retail shops to sell to consumers directly, percent foreign ownership is permitted, and for franchising.

Major Regulations and Licenses Required: After grappling against the wild tides of the past decade, a few perseverant players have evolved into mature players and are confident of the way ahead.

Plenty of opportunity exists and the formidable task is to tap this opportunity, in a unique country like India.

Retail Trends In India - Social & Digital Marketing in India

The huge potential can be tapped if the following three aspects are stressed: What does it take to make a customer walk into your store and buy products How many such outlets can we open across the country to achieve national status and more importantly economies of scale.Indian Retailer provides news trends in retailing, recent trends in retailing.

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