Indian Retail Market and Upcoming Challenges
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Indian Retail Market and challenges and opportunities for Indian Retail Sector.
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Indian Retail Market and Upcoming Challenges
- 1. INDIA’S RETAILING STRATEGIC ISSUES AND CHALLENGES BY : SARABJEET SINGH DUA MBA (Marketing) Sarabjeetsinghdua10@gmail.com
- 2. RETAIL INDUSTRY IN INDIA
- 3. India is the third-most attractive retail market for global retailers among the 20 largest emerging markets, according to US consulting group AT Kearney’s report published in June 2012.
- 4. Weekly Markets Village Fairs Melas Convenience Stores Mom and Pop/Kiranas PDS Outlets Khadi Stores Cooperatives Exclusive Brand Outlets Hyper/Super Markets Department Stores Shopping Malls Traditional/Pervasive Reach Government Supported Historic/Rural Reach Modern Formats/ International Source of Entertainment Neighborhood Stores/Convenience Availability/ Low Costs / Distribution Shopping Experience/Efficiency
- 5. CHALLENGES IN INDIAN RETAILING
- 6. MODERN MARKETING MIX •Experience •Everyplace •Exchange •Evangelism PRODUCT PLACE PRICE PROMOTION
- 7. MAIN CHALANGES IN RETAILING •STORE TYPE •STORE LOCATION •STORE DESIGN •STORE PROMOTION •STORE PRICING POLICY •STORE COMPETITION
- 9. WHEEL OF RETAILING A hypothesis holding that new retailers usually enter the market as low-status, low-margin, low-price operators but eventually evolve into high-cost, high price merchants.
- 11. CHALLENGES TO RETAILING •RETAIL POSITIONING •RETAIL PRICING •RETAIL COMPETITION •RETAIL PROMOTION •CUSTOMER ORIENTATION •MARKET ORIENTATION FACTORS TO FOCUS ON
- 12. FACTORS AFFECTING RETAIL LOCATION • Intended target market trading area • Types of products being sold • Suitability of site for customer access • Customer characteristics • Location of competitive retail operations Types of Locations •Free-standing structures •Traditional business districts
- 13. FC ROAD - SHOP
- 14. VIMAN NAGAR - PHOENIX MALL
- 15. RETAIL PRICING • Cost Plus Pricing Mechanism • Every organization runs to earn profits and so is the retail industry. • Cost plus pricing works on the following principle: • Cost Price of the product + Profit (Decided by the retailer) = Final price of the merchandise. • According to cost plus pricing strategy the retailer adds some extra amount to the actual cost price of the product to earn his share of profits. The final price of the merchandise includes the profit as decided by the retailer.
- 16. RETAIL PRICING • Competitive Pricing (Below --> Same --> Above) • The cut throat competition in the current retail scenario has prompted the retailers to guarantee excellent customer service to the buyers for them to prefer them over their competitors. • The price of the merchandise is more or less similar to the competitor’s but the retailers add on certain attractive benefits for the customers. (Longer payment term, gifts etc.)
- 17. RETAIL PRICING MANUFACTURER SUGGESTED RETAIL PRICE • The retailer sells his merchandise at a price suggested by the manufacturer. Condition 1 • The retailer sells the product at the same price as suggested by the manufacturer. FIXED Condition 2 • The retailer sells the merchandise at a price less than what was suggested by the manufacturer. SALE Condition 3 • Retailers initially quote an unreasonably high price and then reduce the price on the customer’s request. BARGAIN
- 18. Psychological Pricing • Certain price of a product at which the consumer willingly purchases it is called psychological price. • The consumer perceives such prices to be correct. • A retailer sets a psychological price which he feels would meet the expectations of the buyers and they would easily buy the merchandise. RETAIL PRICING
- 19. RETAIL PROMOTIONSPRODUCT LAUNCHS •Dealer Meets •Guerilla Marketing •Press Launch •Out-of-home (OOH) DESIGN / CREATIVES •Mall Marketing •Canters/Bus •Display •Exhibition BRAND ACTIVATION •Consumer Promos •Mall Activity •School & College Promos •Road Shows •RWA (Residents Welfare Association) Activity •Flash Mobs
- 20. MALL ACTIVITY
- 21. Mall Marketing
- 22. MALL EXIBITIONS
- 23. Van Activity
- 24. OUT OF BOX PROMOTIONS
- 25. I Walker – The Walking Billboard
- 26. How does Magic mirror works? Usually magic mirror works as a Advertising board in which you may display any creative, and that glows all the times. But as soon as someone stands in front of this Display..it turns into a mirror.. and that’s MAGIC.. This has a excellent use in malls, showrooms and airports. MAGIC MIRRORS
- 27. What is a Video Jacket (VJ) ? VJ is a unique Blend of Video + Audio Advertising. VJ is the first and only product that combines ATL & BTL together. Television commercial is considered to be the most effective form of advertisement carrying human emotions and adequate message. With VJ, TVC’s can be used in malls, markets & Airports, Brands can reach their customers outside their home and offices. It gives a combined effect of Audio + Video Advertising on the move. Video Jacket.. Walk with TVC :
- 30. e- Retailing The role of e- distribution is to make the products available at the right time, at the right place, in the right quantities
- 32. STRATEGY MAKES YOU DIFFERENT FROM OTHERS REST OF THE GAME IS THE SAME….
- 33. THANK YOU