Director Blocher Blocher India Pvt. Ltd
In Retrospect: 2012
After the slowdown phase between 2007 and 2009, the market has become more dynamic by the day. In 2012, the rapid growth of the Indian economy and the retail sector has consequentially carried on. The organized retail sector has further developed and Indian-specific retail formats of all sizes have strongly emerged- examples are the specifically designed hypermarkets. On the other hand, the interest in western influences has also increased. May be it’s the first indicator of a retail revolution.
Arrival of FDI
With the advent of FDI, Indian retail may be at the brink of a revolution as I’ve already mentioned. The whole FDI decision is a step forward in welcoming global brands and retailers to the Indian market, which is one of the largest and fastest growing in the world. The advantages are manifold: First of all, it’s a chance for Indian retailers to cooperate with global players and introduce global best practices in the business of retailing. And this obviously cannot be a one-way route. The Western market now comes closer to Indian investors as well. Besides, there is the biggest advantage to the customers who will benefit from better prices and improved services necessitated by international competition. But the biggest impact may be for new entrants in the market who may benefit from international support. Also, having learnt what Indian consumers want and having planning our store layouts based on these practical experiences, we are one step ahead. We can mediate between the Indian and Western senses of style.
Looking Ahead: 2013
Indian companies have to lead their biggest trump. They already know their market and customers. It’s essential for them to adapt global standards. Investment into a state-of-art store designs may be the best initiative to cope with the international competitors.