Name: Satyam Singh (2007 – 2009)
Title: Comparative Analysis of Apparel Retail Store
Summary
Generally in India, the trend was that most of the people prefer buying from convenience neighborhood stores rather than large format retail outlets. Daily needs products were usually purchased from small stores and from street shop. Convenience store market is growing rapidly today. Trends in the market are fast changing. Some major changes in trends are taking place in the convenience neighborhood stores.
One of the important changes is keeping of apparels in the convenience neighborhood stores as merchandise. In the organized retail, the large variety, segmented customer profile and changing tastes plays a big role. Selling apparels in a convenience store is no child’s play. There are two important factors to be considered for making apparel sale in a convenience store a success - variety and price.
Certain players like Aditya Birla’s more have made an agreement with various apparel manufacturers to launch their private labels in different categories of apparel. Example, Kitchen Towel, fridge cover, hand towel, face towel, bath towel etc. Future Group has entered into small format chain of retail stores for daily needs products. This format is operating with the name KB’s Fair price (Kishore Biyani’s Fair price).
Aprons, dungarees, shorts and shirts are the apparel products which may induce a customer for impulse purchase. Kids' apparel has yet to prove its strength in this format of retailing.
The branded garment is still not kept by most of the players in their convenience stores due to the high price factor. Functional garments are largely bought off the streets in this country. Keeping the apparel category in convenience stores market is a game that requires guts and focused inputs. Remember, this is the market for daily needs.
This research shows that there is a huge potential in the Indian neighborhood convenience market because the number of players in the market are still less as compared to the size and demand of this section. Dominated by the unorganized players, the market is now seeing a slew of domestic and international labels joining the bandwagon. The market which had a handful of players such as Subhiksha, Sabka Bazaar and Reliance Fresh, has new entrants like KB’s Fair Price, Bharti Wal Mart, Aditya Birla’s more, and LM 365 in the arena.
Indian neighborhood convenience retailing is still not very organized because people still are not very aware of the existing retail players, and there exists one more belief among Indian consumer that why to buy such expensive merchandise from an organized retail store who adds up the frills costs like AC, etc. to his bill. People still buy grocery and other daily needs from the local markets for their consumption. Therefore it is necessary to make the potential customer aware about the organized neighborhood convenience stores. Convenience store is very functional and price sensitive segment.
Title: Comparative Analysis of Apparel Retail Store
Summary
Generally in India, the trend was that most of the people prefer buying from convenience neighborhood stores rather than large format retail outlets. Daily needs products were usually purchased from small stores and from street shop. Convenience store market is growing rapidly today. Trends in the market are fast changing. Some major changes in trends are taking place in the convenience neighborhood stores.
One of the important changes is keeping of apparels in the convenience neighborhood stores as merchandise. In the organized retail, the large variety, segmented customer profile and changing tastes plays a big role. Selling apparels in a convenience store is no child’s play. There are two important factors to be considered for making apparel sale in a convenience store a success - variety and price.
Certain players like Aditya Birla’s more have made an agreement with various apparel manufacturers to launch their private labels in different categories of apparel. Example, Kitchen Towel, fridge cover, hand towel, face towel, bath towel etc. Future Group has entered into small format chain of retail stores for daily needs products. This format is operating with the name KB’s Fair price (Kishore Biyani’s Fair price).
Aprons, dungarees, shorts and shirts are the apparel products which may induce a customer for impulse purchase. Kids' apparel has yet to prove its strength in this format of retailing.
The branded garment is still not kept by most of the players in their convenience stores due to the high price factor. Functional garments are largely bought off the streets in this country. Keeping the apparel category in convenience stores market is a game that requires guts and focused inputs. Remember, this is the market for daily needs.
This research shows that there is a huge potential in the Indian neighborhood convenience market because the number of players in the market are still less as compared to the size and demand of this section. Dominated by the unorganized players, the market is now seeing a slew of domestic and international labels joining the bandwagon. The market which had a handful of players such as Subhiksha, Sabka Bazaar and Reliance Fresh, has new entrants like KB’s Fair Price, Bharti Wal Mart, Aditya Birla’s more, and LM 365 in the arena.
Indian neighborhood convenience retailing is still not very organized because people still are not very aware of the existing retail players, and there exists one more belief among Indian consumer that why to buy such expensive merchandise from an organized retail store who adds up the frills costs like AC, etc. to his bill. People still buy grocery and other daily needs from the local markets for their consumption. Therefore it is necessary to make the potential customer aware about the organized neighborhood convenience stores. Convenience store is very functional and price sensitive segment.
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