Director - Key Account Development LIGANOVA India Brand Retail Pvt. Ltd.
In Retrospect: 2012
Retail business has become more competitive. The year 2012 was a dynamic one for the retail Industry. We observed that many retailers made major changes with regard to their existing retail strategy at the Point of Sales. For example, many changed their actual retail identity by creating new international store design concepts. Also, existing retail concepts have been revamped into a more commercial and dynamic store design concepts. Overall, the store design developments in 2012 were focused more on consumer-driven store concepts which includes: Visual merchandising, store environment and overall store architecture.
Arrival of FDI
The impact of FDI on the Indian retail market will be significant. International brands will not only expose the Indian consumer to innovative products, but will also expose them to higher standards of display thus raising the bar of experience delivered to them. A major shift in the traditional strategies, budget planning and investments by the Indian brand is thus on the cards. FDI will also open new avenues for the retail design and fit out industry in India. To face competition resulting from the FDI policy, brands in India will have to invest heavily in improved retail identities, enhanced window displays and excellent customer experience within the store.
Looking Ahead: 2013
Indian brands will need to act as holistic brand retail companies at the Points of Sales. They will be necessitated to have a much deeper focus on the retail business by creating a new shopping environment and experience for their clients.