Key Drivers of Retailing in India
Consumer Pull
In Pre-Liberalization the manufacturer was the king of the market, all the power rested with the manufacturer. But in today’s market, consumer are the kings, this is mainly due to liberalization in consumer goods, industries, vanity product, consumerism and increasing wealth. All this change will be mainly seen in youths in metro cities.
Consumers can be divided into two broad categories:
• High income segment- The consumers who have high income gives lesser importance to their expenditure, For instance, Consumer with high income while shopping for his household products gives lesser importance in his grand total of his bill because it will not make him much difference in his part of salary. …show more content…
Due to the Medias such as television, internet, telephone etc. has raised customer expectation in regard to easy way of shopping as per their wants, choice, value, quality and convenience.
Change in consumer behaviour
In present scenario the study of consumer behaviour has become very much essential. All the activities of human concerns end with consumer and consumer satisfaction. As per the research it is known that consumer behaviour is very difficult to predict, from all this factors like increase in the variety, quality and availability of the product and higher spending power has led to increase in consumer expectation which intern will lead to change in behaviour.
Increasing awareness has meant the consumer to get more information regarding variety, product availability, product quality as well as increase in customer service. According to the recent market behaviour people are more influenced towards hygienic and healthy products. For instance, Patanjali products which are meant to be pure and organic products with no added mixture or artificial colours in ingredients has made the consumer buying behaviour change from unhygienic product to organic …show more content…
Role of trade in distribution and communication must be strengthened.
5. Pricing of products should be in line with the economic competence of the people of rural areas.
6. Packaging should be simple and functional.
Traditional rural retail fairs
This stores are the convenience stores which are operated by the family and is well established in Indian Villages. Most of the retail stores in India are essentially dominated by traditional stores. The retail outlets run by families are basically Kirana stores (Grocery stores), small restaurants, handicrafts outlets etc.
Key Players in India’s rural market
For developing rural market various developed rural outlets have entered the Indian rural market to provide quality and efficient products for satisfying the family needs and services to farmers. The major Key players are Kisan Bazaar (DCM), Aadhars (Godrej), Choupal sagar (ITC), Kisan sansar (TATA), Reliance fresh, Project Shakti (HUL).
Opportunities and opportunities sectors:
The rural sector of the Indian economy is growing at high speed with the rate of 8-10% per annum and has a future growth in consumption of 90-100 billion over the period from 2012-2017.
Leading opportunity sectors
Consumer Pull
In Pre-Liberalization the manufacturer was the king of the market, all the power rested with the manufacturer. But in today’s market, consumer are the kings, this is mainly due to liberalization in consumer goods, industries, vanity product, consumerism and increasing wealth. All this change will be mainly seen in youths in metro cities.
Consumers can be divided into two broad categories:
• High income segment- The consumers who have high income gives lesser importance to their expenditure, For instance, Consumer with high income while shopping for his household products gives lesser importance in his grand total of his bill because it will not make him much difference in his part of salary. …show more content…
Due to the Medias such as television, internet, telephone etc. has raised customer expectation in regard to easy way of shopping as per their wants, choice, value, quality and convenience.
Change in consumer behaviour
In present scenario the study of consumer behaviour has become very much essential. All the activities of human concerns end with consumer and consumer satisfaction. As per the research it is known that consumer behaviour is very difficult to predict, from all this factors like increase in the variety, quality and availability of the product and higher spending power has led to increase in consumer expectation which intern will lead to change in behaviour.
Increasing awareness has meant the consumer to get more information regarding variety, product availability, product quality as well as increase in customer service. According to the recent market behaviour people are more influenced towards hygienic and healthy products. For instance, Patanjali products which are meant to be pure and organic products with no added mixture or artificial colours in ingredients has made the consumer buying behaviour change from unhygienic product to organic …show more content…
Role of trade in distribution and communication must be strengthened.
5. Pricing of products should be in line with the economic competence of the people of rural areas.
6. Packaging should be simple and functional.
Traditional rural retail fairs
This stores are the convenience stores which are operated by the family and is well established in Indian Villages. Most of the retail stores in India are essentially dominated by traditional stores. The retail outlets run by families are basically Kirana stores (Grocery stores), small restaurants, handicrafts outlets etc.
Key Players in India’s rural market
For developing rural market various developed rural outlets have entered the Indian rural market to provide quality and efficient products for satisfying the family needs and services to farmers. The major Key players are Kisan Bazaar (DCM), Aadhars (Godrej), Choupal sagar (ITC), Kisan sansar (TATA), Reliance fresh, Project Shakti (HUL).
Opportunities and opportunities sectors:
The rural sector of the Indian economy is growing at high speed with the rate of 8-10% per annum and has a future growth in consumption of 90-100 billion over the period from 2012-2017.
Leading opportunity sectors