emerging trends in retail marketng

21
“Emerging trends in retail marketing” Authors: Nidhi Phulwaney , re search scholar, Indore, India. Contact:9755107896 Surhi !ain, resear ch scholar, Indor e, India. Contact:9"7 98#69#" Swati !ain, resear ch scholar, Indor e, India. Contact:9"0710$999 Abstract: In today%s era, retailin& has e'er&ed as a 'a&ni(cent sector en)oyin& &reat success.*his sector is &rowin& at a +ery &reat ace, inducin& lots o- co'etition -or all the retail oerators e it a s'all colony outlet, 'o' and o store, suer'ar et, deart'ental store or a &iant shoin& 'all. It%s in/uence co+ers all the retailers and to sur+i+e and &row in such co'etiti+e retail era, retai lers ha+e co'e u with astonishin&ly hu&e +ariety o- new trends,e'er&in& today. In this study,such new trends o- retail 'ar etin& ha+e een studied. etail sector has een cate&oried into 11 areas o- retaili n&. *hese include -ood and &rocerie s, -ashion and aarel, etc. 2ach o- these su3sectors, ha+e een studied and the chan&es in their 'aretin& syste's and trends ha+e een analyed usin& secondary data.*he -ocus o- this study is to throw so'e li&ht on the chan&es in the 'aret in& tactics as well retail related tre nds.*his will e hel-ul -or the retailers to understand the intensity o- &rowin& co'etition and retail haenin&s so as to 'ae -urther strate&ies accordin&ly .Not only the retailers, ut the custo'ers can also e -acilitated y the study .4nowhow o- recent trends,way s o- sho in& as well as the -acilities or add3on techniues o- shoin& oered y retailers 'ay hel the custo'ers. 3333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333 3333333333333 Key words: retailing trends, retail marketing, retail sub-sectors

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Page 1: Emerging trends in retail marketng

8/19/2019 Emerging trends in retail marketng

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“Emerging trends in retail marketing”

Authors:

Nidhi Phulwaney , research scholar, Indore, India. Contact:9755107896Surhi !ain, research scholar, Indore, India. Contact:9"798#69#"Swati !ain, research scholar, Indore, India. Contact:9"0710$999

Abstract:

In today%s era, retailin& has e'er&ed as a 'a&ni(cent sector en)oyin& &reatsuccess.*his sector is &rowin& at a +ery &reat ace, inducin& lots o-co'etition -or all the retail oerators e it a s'all colony outlet, 'o' ando store, suer'aret, deart'ental store or a &iant shoin& 'all. It%s

in/uence co+ers all the retailers and to sur+i+e and &row in such co'etiti+eretail era, retailers ha+e co'e u with astonishin&ly hu&e +ariety o- newtrends,e'er&in& today.

In this study,such new trends o- retail 'aretin& ha+e een studied.etailsector has een cate&oried into 11 areas o- retailin&. *hese include -ood and&roceries, -ashion and aarel, etc. 2ach o- these su3sectors, ha+e eenstudied and the chan&es in their 'aretin& syste's and trends ha+e eenanalyed usin& secondary data.*he -ocus o- this study is to throw so'e li&hton the chan&es in the 'aretin& tactics as well retail related trends.*his wille hel-ul -or the retailers to understand the intensity o- &rowin& co'etitionand retail haenin&s so as to 'ae -urther strate&ies accordin&ly.Not onlythe retailers, ut the custo'ers can also e -acilitated y the study.4nowhowo- recent trends,ways o- shoin& as well as the -acilities or add3ontechniues o- shoin& oered y retailers 'ay hel the custo'ers.

33333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333

Key words: retailing trends, retail marketing, retail sub-sectors

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Introduction to retail trends

etail 'aret o- India is eected to cross 1.$ trillion S y #0#0 -ro' the

current 'aret sie o- 500 illion S. In 'odern ti'es, retail is eected to

&row u aout si ti'es -ro' the eistin& #7 illion S to ##0 illion S,

-or all cate&ories and se&'ents. Indian retail sector is hastily &rowin&,

acco''odatin& nu'erous chan&es in its syste' as well.

#006 #011 #016

0

100

#00

$00

"00

500

600

700

800

overall retail market

o+erall retail 'aret

 *here are se+eral -actors that dri+e the or&anied retail sector. ew o- the'

include the -ollowin&:

3 Co'arati+ely ;i&h inco'es insti&atin& the urchase

3 e+eloin& consu'tion atterns o- Indian custo'ers3 Newly de+eloin& technolo&y and li-estyle trends3 easy a+ailaility o- credit3 Increasin& consu'er awareness

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3 <rowth in -or'at o- 'odern trade3 *echno sa++y custo'er3 23co''erce trend3 Social co''erce increasin& throu&h social networin& sites3 =ultichannel syste' o- 'aretin& etc.

 *he India retail 'aret was S> "70 ?n in #011, accountin& -or nearly $5@ o- 

<P and is now eected to reach to S> 675 ?n y #016, at CA< o- 7.5@

#006 #011 #016

0

10

#0

$0

"0

50

60

70

80

90organized market

or&anied 'aret

Literature Review

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Barta,! et al"n!a!#!$rends in retail trade, studied the 'a)or trends in

retail sector that are -aced y usiness eole and the 'erchants o-

Blaho'a town. *hey identi(ed 10 'a)or trends that are ein& in ractice in

the retail trade. *hese include e3co''erce, s'art cards, &loaliation o-

retail trade, recision shoin&, etc. *he study has een conducted to

roduce ideas -or the re+italiation and de+elo'ent o- the downtown

usiness eole and 'erchants. It -ound that entertain'entiation% o-

retailin& and nowin& your custo'ers is a &reatly in ractice nowadays in

order to 'aintain connecti+ity and in/uence custo'ers. se o- s'art cards

and eco''erce is also in -unction. Cate&ory illers ha+e een identi(ed as a

i& challen&e -or retailers to loo o+er.

Darious uco'in& trends in each indi+idual sector has een discussed in

Indian retail trends %&'(, )hite *a*er, $A$A bss! *hese retail sectors

include -ashion and aarel, -ood and &roceries, ho'e -urnishin&s and

-urniture etc. uco'in& trends in each o- these sectors, chan&in& custo'er

re-erences as well as rele+ant strate&ies ha+e all een identi(ed in the

study. *hey ha+e also -ound -ew ey enalers o- the retail trends. *hese are

increasin& annual household inco'e, -allin& co''unication costs, increasin&

enetration o- credit and deit cards with hi&her +alue li'its, increasin&

nu'er o- online transactions alon& with the ay'ent 'odes etc. As a

su&&esti+e strate&y, it states that -ocusin& on increasin& 'aret access,

creation and 'ana&e'ent o- rand, 'ana&e'ent o- talent and that o-

custo'er eerience would e o- &reat hel to the retailers in order to coe

u and ecel in the -reuently trend chan&in& en+iron'ent.

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Another reort y ICCI, $he Indian kaleidosco*e+ emerging trends in

retail"%&'%# states the -act that the Indian retail sector%s current esti'ated

+alue is aout 500 illion S and is eected to reach 1.$ trillion S y

#0#0. *his calls -or &reater connecti+ity with the custo'ers to ro+ide the'

co'lete eerience so as to sur+i+e in the &rowin& co'etition. It states

that the ric and 'ortar -or's o- usiness are con+ertin& to technolo&y

dri+en -or'ats to 'aintain connecti+ity with the custo'ers. *here-ore the

online and 'oile retailin& are taen as the new 'odes to &row. It studied the

eect o- econo'ic endulu' and 'er&ers and acuisitions on the retail

en+iron'ent in India. esite deceleratin& world econo'y, &loal in+estors

are interested in in+estin& in India due to stron& <P &rowth, lar&e custo'er

ase, custo'er con(dence, consu'tion ased attern o- urchasin& etc.

Also the i& 'er&ers ha+e accelerated the &rowth o- retail in India rin&in& u

new trends thereon. It also discussed custo'er eerience li-ecycle and

sta&es o- custo'er eerience. *hey say that to e a dyna'ic retailer, one

has to e roacti+e, connected and e'owered.

Emerging trends in Indian retail and consumer %&'' y *echnoa

ha+e also studied the +arious retail se&'ents lie durales, -ashion and

aarels, eauty ser+ices, health and (tness etc, with the hel o- aroriate

-acts and (&ures. *hey consider online retailin& as a oular trend. Non3store

retailin& is currently esti'ated at S> $.# illion and is liely to e &rowin&

at the rate o- #$@. *he ey chan&in& consu'er atterns identi(ed are

consu'er is rede(nin& the +alue, accelerated consu'tion, increasin& uran

oulation, new cities and towns actin& as new consu'tion centers, wo'en

consu'er ower increasin&, ti'e consciousness leadin& to concet lie online

retailin&, 'ultile+el 'aretin&, hyer'arets and 'alls E&i+in& all under one

roo-F, cate&ory illers, etc. ?usiness 'odels are also con+ertin& -ro'

con+entional -or's to sin&le nation headuarters and local artners to ha+e

&eo&rahical reach. *o e a success-ul retailer in the trendin& en+iron'ent,

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-ew ey success -actors ha+e een identi(ed lie local 'aret adatation,

ri&ht real estate, &ettin& the ri&ht artner, dierentiation throu&h ser+ice and

'any 'ore.

b-ectives o. the stud/

•  *o create awareness aout the chan&in& retail en+iron'ent in India.

•  *o hi&hli&ht chan&in& consu'tion atterns and consu'er re-erences.

•  *o rin& in notice the uco'in& trends in Indian retailin&.

•  *o discuss roale strate&ies that could e adoted y the retailers

owin& to chan&in& custo'er 'ind set and the e'er&in& trends o- retailtrade in India.

Research 0ethodolog/

Research design :  *he research desi&n is descriti+e in nature where the

details related to Indian retail syste' has een studied and discussed usin&

secondary data.

1ata collection : Secondary data has een used -ro' the +arious eistin&

reorts and the eistin& literature ha+e een studied.

1ata anal/sis : No statistical tool o- analysis is used. *he content and

statistics 'entioned in the reorts and the in-or'ation ro+ided in the

literatures ha+e een sel- analyed.

Results and Inter*retations

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$rends and their im*act

 *he Indian retail sector acts as a &reat lat-or' in order to ro+ide

oortunities to retailers as well as -or the +arious a+ailale rands

throu&hout the world. <loalised world has contriuted in chan&in& li-estyles,

chan&ed consu'er atterns and re-erences and increased co'etition. It

has also led to the e'er&ence o- new trends in the 'aret which creates a

drastic i'act in the 'inds o- custo'ers and there-ore, the retailer%s &rowth.

In this study, 'a)or trends a'on& 11 susectors o- retail se&'ent ha+e een

discussed that i'acts the usinesses in the retail trade sector.

'!2ood And 3roceries

;yer'arets and alie 'odernied shoin& re'ises and ranchisin& will

e uco'in& 'oreo+er to rid&e the &a etween unor&anied and

or&anied &rocery traders. ?esides, 23retailin& will increase si&ni(cantly -or

-ood and &roceries. *his hels in achie+in& a co'etiti+e ed&e to the retailers

.Cold chains would e o- &reat ene(t -or this urose.

Pri+ate lael rands would co'e u 'ore in this se&'ent suressin& the

&rowth o- 'anu-acturer%s rands. Also, the trend -or or&anic -ood androcessed -ood on increasin& their de'and. ood and <rocery 'aret is

eected to reach S> "#5 ?n y #016 E6$@ o- the o+erall retail 'aret F, at

CA< o- 5.5@ whereas, *he or&anied ood and <rocery retail is eected to

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&row uto S> $" ?n y #016, G CA< o- $0@.

#006 #011 #016

0

10

#0

$0

"0

50

60

total 'aret

or&anied

'aret

%!2ashion And A**arel

 Houth o- India are -ollowin& the -ashion o- online orderin&. *heir re-erences

-or -orei&n rands is also +ery si&ni(cant. etailers there-ore would continue

the entry o- -orei&n rands and also e3co''erce lat-or' would e

intensi(ed -urther. ?esides this, rice discri'ination -or daily wears and

artye+ent wears would e reuired. All these will lead to 'aretin& throu&h

'ulti channels y the retailers.

etailers will also tae their in house rands on a serious note. *his will lead

to -or'ation o- their eclusi+e showroo's in co'act -or'at, where -ocus will

e on &eneratin& roducti+ity o- sace as well as the intense assort'ent o-

stoc. Pro'otion o- in house rands 'i&ht e done throu&h in3(l'

lace'ents, celerity endorse'ents or e+ent sonsorshis.

ashion -or ids will include increased rand licensin& rin&in& u the trend

insired -ro' cartoon characters, ollywood and cricet stars.

Aarel 'aret in India was S> $5 ?n in #011 and y #016 it is eected to

reach S> 50 ?n, G CA< o- 7.5@. *he or&anied Aarel Indian retail 'aret

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was S> 5.5 ?n in #011 and is roale to &row to S> 8 ?n y #016, G 8.5@

CA<

 

#006 #011 #016

0

10

#0

$0

"0

50

60

total 'areyt

or&anied 'aret

 

4!2urniture And 5ome 2urnishings

 *he ;o'e urnishin&s and urniture 'aret would reach uto S> 17 ?n y

#016. It%s or&anied retail 'aret in India is esti'ated to &row -ro' S> 0.7

?n in #011 to &row to S> 1.# ?n y #016.

Darious custo'ied ite's will ha+e their re-erence. custo'iation in desi&n

as well as color will e de'anded. ?esides uality consciousness, Indian

households would re-er chan&in& ite's leadin& to -reuent urchases.

2chan&e sche'e in -urniture and it syste' in -urnishin&s would 'ostly e

re-erred. Bnline urchase o- these ite's are also &ainin& 'o'entu' with

the acu o- 'oney ac &uarantee ,i- not as er reuire'ent.

ashion and aarel

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#06 #011 #016

0

#

"

68

10

1#

1"

16

18

total 'aret

or&anied'aret

(!6onsumer 1urables And 7itchen A**liances

 *he Consu'er urales 'aret in India is eected to &row at S> "$ ?n y

#016, at 1$.5@ CA< -ro' S> #$ ?n in #011.

Bnline resence o- retailers would increase so as to -acilitate their uyers with

shoin& at )ust a clic away. =any ri+ate lael rands are also eected to

e'er&e in this se&'ent. etailers would ro'ote throu&h 'ulti channels to

ha+e 'ore rele+ance with their custo'ers. Bnline retailers would -ocus on

rice sensiti+ity o- Indian custo'ers and hence rin&in& u +arious rice

ro'otionals aced u y 'anu-acturer%s &uarantee and cash on deli+ery

aroaches. 2chan&e o- durales or ro+idin& lat-or' -or dated ut ite's

in worin& conditions , will also &ain 'o'entu'. *his allows urchases in

shorter urchase cycles -or the durales. 2clusi+e showroo's with 'ulti

rands durales oerin& eJcient ser+ices 'i&ht also e'er&e since there is

urniture and ho'e

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+ery less scoe o- discri'ination -or retailers in this se&'ent ecet the

ser+icin&.

8! 9eweller/ Retail

 !ewellery would now e a need as an etra+a&ana and not -or 'ere

in+est'ent urose. *reatin& it as a luury need would reuire -or 'ore

secial desi&nin& and est uality. It is now seen as a sy'ol -or 'o+in&

towards uward trend in li-estyle and social status. *his leads to

consciousness o- custo'ers aout what they uy and -ro' where. ;ence,

eclusi+e rands o- )ewellery will e o- &reat interest.

 *he recent trend o- ossessin& uniue ieces throu&h orderin& custo'ied

 )ewellery is ti'e consu'in&. So, custo'ers now 'o+e onto desi&ner (nished

'asterieces readily a+ailale. *his will reuire retailers to 'aintain

aroriate in+entory as well enhance the urchase en+iron'ent throu&h

+isual 'erchandisin&.

Also, custo'ers would instead o- de'andin& recious )ewellery lie that o-

recious &e's or dia'onds, they would re-er costu'e )ewellery. Precious

 )ewellery would ha+e decreased shel- li-e as co'ared to costu'e )ewellerythat act as accessories with the aarels rele+ant to the e+ent or occasion.

=en will also ha+e their interest in luury destinations where they are a+ailed

with dia'ond watches or other accessories with recious &e's.

Custo'ers today, ha+e reduced their re-erence -or wei&ht o- the )ewellery

ossessed, instead the trend o- ha+in& 'ore nu'er o- ieces has &ained

'o'entu' . *here-ore, the 'asterieces with low wei&hts will tae lace in

the shel-, so that custo'er can -reuently uy such low wei&ht desi&ner

ieces and increase their ossession in nu'ers to use the' alternati+ely.

 *he !ewellery K Latches 'aret in India is esti'ated to &row to S> "" ?n y

#016, G

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CA< o- 11.5@.*he or&anied !ewellery K Latches retail 'aret is liely to e

at S> 7.5 ?n y #016,at CA< o- #5@.

#006 #011 #016

0

10

#0

$0

"0

50

total 'aret

or&anied

aret

! ;uick ervice 2ormats

Such -or'ats o- retail outlets are ur&eonin& and -or the national rands, it

would e a reuire'ent to 'ana&e their reach throu&h +i&orous -ranchisin&.

Pri+ate laels are also eected to co'e u to ser+e roducts urchased

i'ulsi+ely lie randed cooies etc. Presentin& International -ood with the

Indian twist as well as standardiin& the street -oods ,oerin& at re'iu' in

a hy&ienic outlet will also e welco'ed.

  )ewellery

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#006 #011 #016

0

#

"

68

10

1#

1"

16

18

total 'aret

<! Beaut/ ervices

 *his ser+ice se&'ent -aced a &radual shi-t -ro' S> 0.6 ?n in #006 to 1.$ in

#011 and is eected to reach S> $ ?n in #016. *his se&'ent hi&hly en)oys

custo'er loyalty. Custo'ers re-er their loyal ser+ice ro+iders in case o-

eauty. 2eri'ented +ariations are also re-erred nowadays which creates a

sace -or new co'ers, ro+idin& distin&uished ser+ices, usin& new &ad&ets

and technolo&y at aordale rices. ew hi&h class eole 'i&ht also re-er

the' at re'iu' rices. Concet o- aca&es or rice undlin& is re-erred

si&ni(cantly nowadays. New stylist 'ay also oen u their ri+ate lael

ser+ices esecially the international one%s. LB= Eword o- 'outhF and

attracti+e ser+ice en+iron'ent with ersonalied tis and &uidance, wors

well with eauty ser+ices.

Muic ser+ice

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#006 #011 #016

0

0.5

1

1.5

#

#.5

$

$.5

total 'aret

=! *ecialt/ Retailing

 *his includes eye wears, oos, stationeries, &i-ts etc. online con+ersion o-

these ite's ha+e co'e u in order to enhance their sales lie e3&i-ts, e3cards,

e3oos , e3+ouchers etc. Custo'ied and ersonally a+ailed ser+ices are

'ore re-erred and new ser+ice ro+iders are eected to increase.

#006 #011 #016

0

5

10

15

#0

#5

total 'aret

or&anied

'aret

>!2ood And Beverages

  ?eauty

seciality

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 *he ood K ?e+era&es Ser+ices in India is liely to &row S> 16 ?n y #016,

at 1#.5@ CA<. *he or&anied 'aret in was S> 1.5 ?n in #011 and 'i&ht

&row to S> 6 ?n y #016, at CA< o- [email protected] o- India are endin&towards such ite's increasin&ly. *he trend o- s'all instantly lanned arties

increases their consu'tion. ?e+era&e 'anu-acturer%s should ensure their

a+ailaility in the retail outlets. oyalty towards such ite's is &enerally not

resent and hence, their a+ailaility, oers, celerity endorse'ents etc 'ay

enhance their re-erence. Dariations in -ood and e+era&es are also

welco'ed nowadays. con+entional taste and resentation should e relaced

with new in&redients, new /a+ors as well as distin&uished co'li'entary

ite's.

#006 #011 #016

0

#

"

6

8

10

1#

1"

16

18

total 'aret

or&anied

'aret

ood and

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'&! Electronics and ?ersonal 6om*uting

 *he or&anied Consu'er 2lectronics 'aret was oser+ed at S> " ?n in#011 and y #016 it is 'ost roale to &row to S> 18 ?n.

 *he 'ulti rand retailers are -ocusin& on con+ertin& their roduct attriutes

into custo'er eeriences. No+el de+ices will e 'ade to i'ress custo'ers

and on to their roduct eerience. =oiles with ortale solar ener&y it will

e o- &reat attraction. Bnline retailin& is 'ore re-erred as it adots

a&&ressi+e ricin& as well as the instant co'araility o- roducts and their

-eatures -acilitates custo'er%s decision 'ain&. ?ric and 'ortar tye

retailers 'ay dierentiate the'sel+es -ro' e3retailers only y their ser+ices.

#006 #011 #016

0

10

#0

$0

"0

50

total 'aret

or&anied

'aret

  electronics

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''!5ealth And 2itness ervices

<rowin& health consciousness can e clearly seen -ro' the statistics sayin&

the &rowth o- this se&'ent -ro' S> 0." in #006 *B S> #.5 in #016.

Si'ilar to eauty ser+ices, these also wor well with new &ad&ets and

technolo&y. Personalied ser+ices with secial &uidance is hi&hly araised.

Ser+ice ro+iders 'ust -ocus on interacti+ity with the custo'ers while

ro+idin& ser+ices as er their indi+idual reuire'ents. 2ye3catchy

en+iron'ent, custo'ied ser+ices with secial aca&es and oers, no side

eect &uarantee and ro+idin& ser+ices custo'ied shi-ts rele+ant to

custo'ers will e o- si&ni(cant ene(t.

#006 #011 #016

0

0.5

1

1.5

#

#.5

$

total 'aret

;ealth and

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0a-or common trends

 ooin& u -or the o+erall chan&in& and &rowin& trends in the Indian retail

sector as a whole, *here are a -ew such trends -ound that are ein& readily

racticed nowadays and that aect the whole retail trade syste'. *hese are :

  Retro@tting the .unction o. 0arketing

=aretin& is no 'ore a 'ana&e'ent -unction in isolation. It needs inte&ration

with other roles and -unctions esecially with that o- In-or'ation *echnolo&y

to -acilitate &rowin& di&ital 'aretin&.

 

Em*hasis on “store theatrics”

In3 store en+iron'ent is now the e'hasis o- retailers. *hey are tryin& to

attract custo'ers throu&h store en+iron'ent in order to -acilitate shoin&,

entertain and en&a&e the' within the store to enhance sales. *his is ein&done throu&h +arious PBP%s, interacti+e dislays etc.

  Increasing sho**er connectivit/

Connecti+ity with custo'ers is nowadays ein& increased y ro+idin& Li3i

in the store. Bther ways include re'iu' rewards lie eclusi+e accessiility

o- roducts, ro'otional discounts, loyalty oints etc.

  Integrating online bu/, store *ick u*

It%s a strate&y to induce online custo'ers to +isit the outlets ,thou&h its )ust

-or the icu o- their ordered roduct. *his ensures connecti+ity and loyalty

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with custo'ers and custo'ers 'i&ht also urchase ite's a+ailale in the

sho.

  2ocus on interactions with sho**ers

Interactin& with shoers in store throu&h &reetin& the', helin& the' uy

thin&s, etc. or e+en contactin& the' throu&h ost urchase ser+ices , is also a

&rowin& trend.

*timizing .ormat o. the store

Br&aniin& the store in a relati+ely dierent -or'at is a new idea en&a&in&

and satis-yin& custo'ers. *hese include +endin& 'achines or randed

outiues etc in a lar&e store -or'at, a+ailin& seatin& areas, coee and -ood

ioss, 'oile char&in& -acility etc.

 *he ao+e 'entioned +arious e'er&in& trends in each o- the se&'ents or the

retail sector as a whole, uts si&ni(cant -ocus on custo'er connecti+ity,

technolo&ical adatation, e3retailin&, ersonalied ser+ices, aordale

sche'e and dyna'ic aroach. Adotin& these tactics will hel retailers to

'aintain and &row alon& with the &rowin& retail trends in India.

6onclusion

 *his aer studied the scenario o- +arious retail se&'ents in India to hi&hli&ht

the e'er&in& as well as uco'in& trends and ractices. *he 'a)or (ndin&s

include that the consu'tion attern o- custo'ers and their reuire'ents are

drastically chan&in&. Custo'ers reuire ersonalied ser+ices in eauty and

(tness se&'ent whereas readily a+ailale 'asterieces with less wei&ht

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'ore +ariety is reuired in )ewellery se&'ent. 23retailin& has co'e u al'ost

in all o- the se&'ents. 2lectronics and durales ha+e echan&e sche'es as

their new trend. Pri+ate laels are also in trend in se+eral se&'ents lie

durales, -ashion aarels, etc. Custo'ers are also seein& +ariations in -ood

and e+era&es and in Muic ser+ice -or'ats. Solar ener&y ortale it will e

the new trend in electronics se&'ent. ?esides, the ro'otional oers,

eclusiti+ity, in3store attracti+eness, online a+ailaility, and shoer

connecti+ity are hi&hly reuired. *his study e'hasies on trends and

reuired tactics to hel retailers o- India to ali&n the'sel+es with the dyna'ic

retail en+iron'ent.

uggestions

;ere are the su&&estions -or the retailers to under&o ractices that would

hel the' dierentiate the'sel+es and &row in the ti'es when retailin& in

India is -acin& -reuently chan&in& trends.

• Identi-yin& tar&et custo'er%s chan&in& shoin& atterns and

re-erences.

Adotin& e3co''erce lat-or'• Stron& or asirational ?rand creation and 'ana&e'ent

• Increasin& custo'er eeriences.

• ocal 'aret adatation

• ierentiatin& throu&h ser+ices ro+ided.

• e+eloin& local suly chain

• Lide roduct ran&e.

• Aroriate ricin& sche'e.

Limitations

 *his study has se+eral li'itations thou&h it has een undertaen to the est

o- eorts. *hese are O

•  *i'e li'itation was a i& challen&e -or analyin& the toic o- the study.

•  *he study relates to the custo'er%s analysis and trends o- India only.

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• A+ailaility o- li'ited resources reuired to undertae the study.

• Assurance o- co'in& trends is not ossile since hu'an -actor is

in+ol+ed and hu'an 'ind set 'ay not e redicted eactly.

Re.erences

• ?arta,S. et alEn.a.F.*rends in retail trade,Blaho'a cooerati+e

etension ser+ice A<2C 565,Blaho'a state uni+ersity

• Indian retail trends #01", Lhite aer, *A*A ss.

•  *he Indian aleidoscoe3 e'er&in& trends in retailE#01#F ,ICCI,PLC.

• 2'er&in& trends in Indian retail and consu'er #011 y *echnoa.