ENTERING INDIAN MARKET- RETAILING

In this article I want to keep my focus on young people who want to make there career in the Retail sector and want to do business in country like India.
Now entering the Indian Retail sector is not easy, my thinking says that if we see now days whatever the trend is going, opening a cash and carry route is very effective because by so there would be strategic advantage. Instead of trying to compete in already crowded urban market place, starting cash & carry store or venturing into rural market/Retail space would help build significant competitive advantage.
If Retail stores are the passion the operators should consider other categories apart from food and grocery. Several other products categories have not even been explored one of its type could be home improvement segment since housing being key aspirations for Indians. And in this segment we can even expect a lot of boom in coming two to three years.
Now let us talk about which form of Retail would be suitable to enter into the Indian Market.
According to me conventional stores are the best way to go for it. These are easily owned and managed by individuals. The best example of such a thing in the current scenario would be a pharmacy stores. They work on the same principle and performing so well.
Now what make me to say that conventional stores would be the best for Indian market, firstly all these stores require less area space this is a very big and key point because now days the land values are rising like anything. And these stores also generate higher sales per Sq ft because of their smaller size. So it requires lesser sales too in order to achieve their breakeven point. And they can also offer higher discount level as compared to any other corporate stores. So this is how just because of small size whatever money been saved is so effective to reduce the competition.
And also these stores develop better and effective customer satisfaction 24/7 mostly now days in places that are near to metro like Bangalore were mostly both the couple are working thus these stores are the key destination to all these people they want convenient only so these stores provide them because all these are located near to their house. And also some of the stores even provide home delivery facility too.
And doing all such thing will lead to the development of good customer relationship. So its work in a chain that creates one another. And thus all this thing lead to a thing for which all marketer works his whole life – Emotional pull this when created automatically attract customer towards them. Customer won’t get satisfaction any were else just because of Emotional touch. And this is good enough to beat any corporate store.
And this type stores also gives us opportunity to diversify into various activities. Like I have seen a pharmacy store it started with medicine then when his business was successful he made little investment and bought a refrigerator and started keeping cold drinks and various items like bread etc then after some time they are even planning to make it a medical and general store too. So this might be looking simple and small but means a lot not all are able to do such thing.
So in country like India Retailing is not so easy we have to create good customer relationship so that it will create Emotional Pull and one of the best and the easy way according me would be a convenient store.
- SHANKAR