Lets now see how 2009 fares for the FMCG industry and the retail trade in India. For now the small store format still rules. For the 2% Modern retailers; they have to first look inwards and sort out the mess they are in; before they can look to serve the shoppers better.
Marketing is about influencing the consumer/shopper at all relevant touch points; be it in store, in home or outdoors.
Zero Moment of Truth in Marketing - An average consumer comes across 6 million brand messages every year across various media - TV/print, events, SMS, outdoors, telemarketing, Point of sale, direct to consumer demos, endorsements.
First moment of truth refers to the instance when your brand interacts with the shopper in store; the interaction is instantaneous, decisive and can be inflective for the brand.
Second Moment of Truth: If you are a detergent brand that promises superior stain removal to the consumer and claims to remove dry stains. Do you actually do it; the consumer will find out and that will decide your fate.
Looking to buy Dell Notebooks or Dell Desktop Computers in India. Now you can walk into Dell retail stores in Delhi and try the model before making the purchase.
Being the pioneer in Indian retail space, Kishore Biyani’s Future Group is tapping an unconventional and unexplored but highly potential target market of urban slums.
As Wal-Mart and Bharti gives touches to their deal and bring in modern global business practices to India, one can hope to get “everyday lower prices” as has been the motto of the American giant.
A SEBI committee has come out with proposals for launch of Dedicated Infrastructure Funds (DIFs) by mutual funds.
Future Group is betting big on development of retail media spaces through Future Media. It has launched the first retailer-owned channel in India called Future TV currently being aired at Big Bazaar, Pantaloon, Central, Food Bazaar and Home Town stores in Mumbai, Delhi and Bangalore.
For those of us who think that Indian organised retail trade is on a dream run, here is an eye-opener.
After the top 8 metros of India, its now focus on tier II and III cities as these cities would drive the investment and growth phase of the country owing to the huge unexplored potential in these cities.
The local “subziwala” and the bania or the “kirana wala bhaiya” in India are a troubled lot today – thanks to entry of giants like FoodWorld, Big Bazaars, Subhiksha stores and Reliance Retail Fresh.
In the era of upcoming malls and discount stores with new offers every other day, that claims to fill your basket for less, you should be handy with a protective gear and prefarably, have a bodyguard accompanying you.