| Topic : Dynamics of Retail Marketing |
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Retail & Supply Chain Professionals
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Activity:
16 views;
last activity : 07 06 2010 20:18:09 +0000
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Understanding the Customer
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Parternering with suppliers
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According to me, The malls which have opened up in a big way in the country has a additional option for the customers, with so many choices to make the percentage of footfalls to billings is far more greater than the normal provison store as such, Just because there is variety and different range of products available at one place, so this makes the customers life more easier. And understanding the customer in the sense why they go to the normal Mom and pop store, in India for the sales to occur price is the main key driver in both the industry, So understanding Customer should be the main Priority for the Organized retail sector to boom.
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In old days and even now the supply is through the medium of distributors and wholesalers across the country, partnering directly with the manufacturers for the supply will be good, this will make sure there is good relationship with the manufacturer and the retailer who sells the product for you, and this will reduce the cost as you will be eliminating the distributor and wholesaler. Another added advantage with this sort of partnership is the manufacturers will come to know directly like what are the customer behaviour, buying trends, combo-sales,discount structures and Mainly the brand preferences, which i think it will be more valuable to manufacturer than any other. So the trend will be where Powerful retail houses will be dominating in the manufacturers decision on what to do and what not to... So boss this is a huge factor for the sector to boom according to me |
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i agree with suchakar here...the boom in retail will help employment also, but more so it helps the consumers as there are so many in the line to open up their business in India, so one can see many discounts and price cuts and consumers enjoying... |
Mr Mihir, this is really a good list stating most of the challenges.Some from my side would be Ubiquity of Portable Computing Leading to Real-Time Sensory Networks True Supply Chain Business Intelligence and Decision Making Tools Managing the... |
Retail outlet is a place with large number of footfalls. With every increase in footfall the retailers have to be aware of their changing needs and requirements. Only being aware wont help, they also have to be fast responsive to their demnds also..... |