21:48
Shivaram
India's population is shopping for more brands than ever before. Whether it is shopping for high value products ranging from imported apparel or daily needs like vegetables, groceries, it is both an entertainment and a activity to be done. No wonder "retail therapy" is the new buzz word.
What can Retailers do to catch the Shopper ?
Location :- With time at a premium, Shoppers look for convenience where they can shop for multiple things in one place. This is where the Malls are taking over from the tradional high street.
Malls are offering :-
a. Starting with the convenience of parking, including valet parking.
b. Airconditioned ambience starting right at the door / floor of the mall.
c. Widest range of brands under one roof, and a choice of exclusive and multi brand outlets .
d. Easy comparison shopping, with self service facility in many places, compared to assisted facility in many exclusive stores.
e. Food courts with a wide variety of cuisine to satisfy multiple demands
f. Even films and other forms of entertainment.
g. Impulse shopping brands Fast Track, Shoes Adidas, etc
High Street stores are offering :-
a. Speciality retailing like in jewellery ( Tanishq, Hyper marts (Star Bazaar ) in apparel which are not possible in malls with their high cost of floor space
b. A more personalised service
c. Even in brands, the store have a much better understanding of the catchment area, with special items available with them only and not available in malls , which tend to have a more broad based approach.
d. Established ethnic and speciality retailers are still preferring to go their own stores in high street and not taken into the mall culture .
e. These established brands also seem to cater to a more mature audience, whether Pothi silks, established lifestyle brands etc.
The choice is finally on what kind of a brand is it ?
a. If the brand is young, catering to a younger audience, the mall is the obvious choice.
b. if the brand is well established, and has the power to draw customers to its own destination store, then the high street is a much better solution.
Finally, the top 3 reasons for the success of a retail store is location, location and location.Even within that, whether you are near the atrium in the mall or at a far away 4th floor location in the busiest mall in town will still matter, remember it is still location, location and location.
Only after that, the rest of the P of retailing product, price, promotion etc will come into play.
Wishing you Profitable Retailing !
www.retailgurukul.com
http://www.blogadda.com" Visit blogadda.com to discover Indian blogs
http://www.blogadda.com/images/blogadda.png
What can Retailers do to catch the Shopper ?
Location :- With time at a premium, Shoppers look for convenience where they can shop for multiple things in one place. This is where the Malls are taking over from the tradional high street.
Malls are offering :-
a. Starting with the convenience of parking, including valet parking.
b. Airconditioned ambience starting right at the door / floor of the mall.
c. Widest range of brands under one roof, and a choice of exclusive and multi brand outlets .
d. Easy comparison shopping, with self service facility in many places, compared to assisted facility in many exclusive stores.
e. Food courts with a wide variety of cuisine to satisfy multiple demands
f. Even films and other forms of entertainment.
g. Impulse shopping brands Fast Track, Shoes Adidas, etc
High Street stores are offering :-
a. Speciality retailing like in jewellery ( Tanishq, Hyper marts (Star Bazaar ) in apparel which are not possible in malls with their high cost of floor space
b. A more personalised service
c. Even in brands, the store have a much better understanding of the catchment area, with special items available with them only and not available in malls , which tend to have a more broad based approach.
d. Established ethnic and speciality retailers are still preferring to go their own stores in high street and not taken into the mall culture .
e. These established brands also seem to cater to a more mature audience, whether Pothi silks, established lifestyle brands etc.
The choice is finally on what kind of a brand is it ?
a. If the brand is young, catering to a younger audience, the mall is the obvious choice.
b. if the brand is well established, and has the power to draw customers to its own destination store, then the high street is a much better solution.
Finally, the top 3 reasons for the success of a retail store is location, location and location.Even within that, whether you are near the atrium in the mall or at a far away 4th floor location in the busiest mall in town will still matter, remember it is still location, location and location.
Only after that, the rest of the P of retailing product, price, promotion etc will come into play.
Wishing you Profitable Retailing !
www.retailgurukul.com
http://www.blogadda.com" Visit blogadda.com to discover Indian blogs
http://www.blogadda.com/images/blogadda.png
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