Monday, September 21, 2009
In recent years, the online shopping in India has picked the great momentum boosting the business growth of the retailers who are providing online shopping services to the shopaholics. There is a growing practice among shopping lovers to hunt the best shopping deal at the comfort of being at the home. The whole new shopping experience has not only taken the world by storm but every day the new array of features rendered by the online shopping felicitators have ensured that the this completely different shopping experience will continue to benefit the customers manifold.
The research carried out by the different research agencies to know the popularity of the online shopping in India indicates the bright prospects of this latest shopping trend. The online shopping seems to soon outperform the traditional form of shopping in coming days. The advantages endowed with online shopping provide it top edge over other shopping practices in India. With the help of online shopping users can obtain information about wide range of products in a shortest span of time. The discount season is the hit season that is on through out the year on online shopping store. The increasing purchasing power of the Indian customers is set to bring the online shopping boom in India. The online shopping after bringing revolution in the metro cities is set to create sensation even in the rural areas too.
Wednesday, August 19, 2009
The retail sector in the India sub continent has certainly felt the brunt of recession right from its onset to this day. There have been many companies which have stopped functioning and many dreams have been put to dust.
On the realistic front, and also being absolutely impartial, it can be said that the situation is certainly one which is showing signs of revival. However, a certain research company feels that the retail industry in India in the current fiscal year will certainly witness a refreshing change in its fortune.
The figures that will be put forward in the following paragraph are all results of the research conducted by the research company and are subject to change at any time. However, they certainly do give a picture echoing the enthusiasm of the company.
It is being estimated that the monetary growth of the industry will be a stupendous one and the total worth of the Indian retail industry by the year 2010 will be Rs. 18,10,000 crore. A total amount of Rs. 2, 30,000 out of the amount of Rs. 18,10,000 will be taken by the organised sector. In other words, about 13 percent of the total monetary worth will be constituted by the organised retail sector.
According to the report that has been furnished by the research company, the above findings are based on the rising economic growth rate of 8 to 9 percent and a hike of 15 percent in the average salary. The latter is most likely to start of a new trend of consumption.
Tuesday, October 21, 2008
A brand is basically defined as a niche area earned by a product in the market for which it is known among the consumers. It is something with which a consumer is able to identify himself with. Usually, it takes decades for a particular company to get the status of a brand. This is because the market is highly consumer driven. For creating a specific niche area for oneself in the market, the economic and cultural factors play a very important role. The segmentation, targeting as well as the positioning of a brand, or in short – the STP, plays a very important role. Branding offers customer loyalty which is easy to retain than finding new customers that requires a lot of initial investments and costs.
Although when it comes to branding in retail, mom and pop stores are a brand in itself. Nothing can match the services provided by them, since they are the oldest of all other mediums of retail. The main reason behind this is the flexibility that is being offered by these stores. However, giants such as Reliance, the Aditya Birla Group etc. are already a big name in the country, which gives them easy access to venture in to a new domain.
Also, in India, the retail industry is the largest with an ocean of employment opportunities for the youth in the country ( it contributes to the country's GDP generating more than ten percent of it) And these brands are already well – known and are also offering good deals and discounts.
Branding is also important due to the stiff competition in the industry. With branding comes an identification in the form of a logo or a punch line. These logos or the punch lines define the company and what it stands for. For instance, the retail venture of the Aditya Birla group is known as More, hence giving an impression that the consumer will always get more by purchasing from here.
Online shopping, the latest trend among shoppers, is also a victim to the fad of brand recognition. However, the fact to be remembered here is that trust does not come easily when it concerns the internet. Hence, online branding is of utmost importance. With brand building comes trust and loyalty and the assurance that the a particular e – store could be trusted upon with our money in return to the commodities we purchase. It is easy for a customer to identify himself with a brand, even though it is on the net. For instance, Amazon.com, Ebay or RetailsDirect etc.
Tuesday, October 14, 2008
Even though it was seen as a rather trivial concept at first, with the passage of time, it has been accepted with utmost enthusiasm, primarily due to its utility. The retail outlet 'In & Out' can be seen in almost every petrol pump in the city. Similarly, in bus terminals and railway stations, small cafes and restaurants are a common sight where in people either go and eat or pack some food for their journey. With such retail stores, customers do not have to search for food on the verge of missing their buses or trains. Further, it has also generated a higher number of employment opportunities and given a chance to retail brands to reach out to the people. Also, the revenue generated through these stores could be shared with the petrol pumps or the railway authorities etc. which are providing them with the space.
Basically, these stores have increased the number of options for the buyers. With people being loyal to certain retail brands, it also gives a chance to extend the brand loyalty through the word of mouth. A satisfied customer would spread positive vibes about a product which would lead to more customers who would want to shop from that particular store. Therefore, it can be said that these convenience stores provide an opportunity to all the established brands to extend their services to the community.