A study on the competitive environment in the retail market
- The retail marketing evolution
- Retail marketing
- Meaning and concept of retail marketing
- The success of the retail stores
- Three main phases in the life of a retailing institution
- Trends in retail marketing
- Retailing statistics
- Marketing decisions
- Retail marketing promotion
- Role of advertising and different media
- Various advertising media
- Retail marketing in India
- Present retail scenario in India
- Mall mania: The developing mall culture in India
- The traditional retail scene and the challenge posed by the internet.
- Marketing mix for the retail giants
- Growth of retailing
- Trends in the store development
- Future challenges in the retailing industry
The Indian retail industry is now beginning to evolve in the line with the transformation that has swept other large economies.
There is a change a foot in Indian retail too, the liberalization of the consumer goods industry initiated in the mid-80's and accelerated through the 90's has begun to impact the structure and conduct of the retail industry. The concept retail which includes the shopkeeper to customer interaction, has taken many forms and dimensions, from the traditional retail outlet and street local market shops to upscale multi brand outlets, especially stores or departmental stores. Store Retailing as the departmental store, which is a store or multi brand outlet, offering an array of products in various categories under one roof, trying to cater to not one or two but many segments of the society and nonstore retailing as the direct selling, direct marketing, automatic vending.
Therefore, this concept of retail marketing through departmental stores, which is coming up in a big way in India was decided to be studied in detail, through an exploratory and conclusive research. The objective being to assess the various parameters that influences a buyer to visit or shop at departmental store thereby contributing to its turnover (in terms of sales and profits) hence leading to its overall success. The extensive research brought me to conclude that departmental stores are soon emerging on the top priority lists, amongst the shopping spree in Delhi, as they seem to derive immense pleasure of convenience and exposure to variety under one roof, in their extremely busy lives, when they don't have time for things.
Though some of the customers perceive departmental stores to be expensive and only high income category's cup of tea, the stores make constant efforts to induce them to at least visit the store at once during the sale period, or discount offers. Most of these stores believe in creating not just a marketing activity with its customers, but rather favor relationship building with him so as to convert first time customers into a client.
[...] Shoppers Stop has a centralized purchasing department in Mumbai, this fact sometimes results in delayed decisions in adapting to changing market trends Opportunities Apart from the metros, cities like Ahmedabad, Pune, Lucknow, Indore and Coimbatore have shown substantial retail presence. Most sport modern retail formats like supermarkets, department stores and specialty chains. These markets are expected to show exponential growth in the next few years. Thus Shoppers Stop has the opportunity to explore new markets According to the Consumer Outlook study, consumers are generally satisfied with the service that organized retailers extend to them. [...]
[...] The owners as such have no future plans for expansion at least in the near future, but yes- perhaps for them, the most important thing is to make this store as a leader in retail marketing business without losing the customers' faith. BigJo's One of the top stores on the priority list of a Delhi based shopping spree, seems to have top of the mind awareness, due to successful advertising and cashing on the credit earned over the years, in terms of good quality merchandise available in large variety. [...]
[...] According to estimates by the year 2005, more than 20 per cent of the apparel retail turnover in India would be accounted for by organized chains, who will use sophisticated information technology to cut costs, improve market responsiveness and manage customer loyalty programs. This new trend is best typified by Shoppers' Stop, which has invested heavily in retailing technology such as an ERP system and has also launched a Web site www.shoppersstop.com. The company is "determining" integrated customer demographic and psycho graphic information from multiple offline and online sources to better understand customer buying habits, said Mr. [...]