Friday, March 21, 2008

Is your portal the next Wal Mart in the making??

Its time to move from continental cuisines of sophisticated 5 Star hotels to street-side 'dhabawalas'. This indeed is the new regimen of the world today. “Go Local!” is the buzz word.

In order to survive in an industry which changes by the second, constant innovation is the only key to breathe easy and perform optimally. Online Retail Industry- this business vertical is meandering in an arena, the population of which is estimated to reach a stupendous 120 million by 2008, says the ASSOCHAM Report. Therefore for entrepreneurs dreaming to become future Wal Marts of the world, reading this is a must.

That people in metros divulge in spending more than their sub-urban counterparts is now a cliché. Consumer Insight reports reveal that times are ripe to reach to this new community of consumers because it is this segment which now bears a massive potential to bolster the revenue pay offs targeted by these online entrepreneurs. So what do we do? Well, the need of the hour is to ‘localise’ the businesses to address the buying instincts of this ‘small town shopper’.

For example, there is an upcoming portal whose speculation is catching pace in present times- Retails Direct. This newbie has not only made its presence felt in the leading metros but also smaller towns PAN India. “We’re launching promotions on upbeat as well as local web sites to reach our local customers more effectively. Succeeding locally depends on how effectively you get the word out to your customers, asserts the Co-founder and Director, Rupinder Khurana, .

Consumer, like the advertising gurus say, is the ‘king’. But these kings are no longer confined to the sky scraper laden urban environs. The ones in bucolic pavilions are now as well-heeled and demand ‘personalized’ patronage if at all entrepreneurs seek to exploit their cache. Hope this article would serve fruitful for these businesses who are seeking new interfaces to reach their customers.

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