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Sujata Agrawal
The retailing environment in India
has evolved tremendously over the last 10 years, and the beginning
of this evolution can be traced roughly to the early years
of the liberalisation process. Fresh formats, ideas and players
have sometimes supplanted, but mostly come to coexist with,
traditional operators. Every shop has not quite become a store,
and the new has hardly overwhelmed the old, but all have had
to change in some manner to cope with the emerging realities
of retailing.
The churn in the country’s retail sector
has ushered in the multi-brand, all-under-one-roof concept
as well as the speciality store catering to niche products
and consumers. In between these two extremes is a whole smorgasbord
of entrepreneurs. Retailing in India is still far from the
finished article, but being a nascent industry makes for exciting
possibilities. For now, at least, the contest for retailing
turf is primarily between the organised and unorganised sectors.
In the organised sector, companies
are moving from using advertising as the sole vehicle for
building brands to employing other methods to attract customers.
Meanwhile, more and more manufacturers are setting up dedicated
outlets that focus on creating a distinct store identity by
using layout, display and lighting to enhance their appeal
and offer the complete shopping experience. That’s what Titan,
Tanishq and Westside are doing to profitable effect.
A recent study of the retail segment
in India, conducted by KSA Technopak, states that fashion
and food will be the key growth areas within the retailing
sector, accounting for 85 per cent of business. Titan, Tanishq
and Westside are primed to cash in.
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