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Part - I
EXECUTIVE SUMMARY
Retail branding is different from just branding because here the store has to match the branding with performance. Thus retail branding has to deliver both tangible and intangible benefits all in one and all at once.
Retailing and India
Consider success stories like Shopper's Stop, Subhiksha, Foodworld etc. and the following statistics:
Retail is India's largest industry, largest source of employment after agriculture, has the deepest penetration in rural India, and generates more than 10% of India's GDP.
In India the retail market is large with sales amounting to $180 billion and accounting for 10-11% of the GDP.
India has largest retail outlet density in the world with close to 10 million outlets today
All these points together collaborate to prove that Retailing is going to go from strength to strength in the future.
In India the retail segment is still in the growth phase. Most of the retailers are new entrants. Most of the growth has been in the big cities and slowly the same cult will catch up in other cities.
Important Criteria in Retail Branding
In today's customer driven economy the power has shifted from the manufacturer to the retailer. He has gained prominence and the entire economy is becoming retailer-driven.
Supply chain management is a very important criterion for successful retail branding. It is the core of retailing and firms like Walmart have successfully used IT to improve their vendor management
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* Contributed by -
Shalu Jhunjhunwala & Shana Sood,
Xavier Institute of Management,
Bhubaneswar.
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