Creative Head-VM, Store Design & Visual Communication for Tanishq, Mia & Zoya
In Retrospect: 2012
Though the market conditions caused some worry, Tanishq managed to sail through with a robust growth in the past year, but not without challenges. The volatile market situation led us to introspect more in depth and also made us equally agile in evaluating market conditions and customer needs. In all this we stuck to our retail network expansion and renovations as planned which helped us connect with newer markets, refresh and strengthen our position in the current markets, and in the process revive our customer relations effectively. Tanishq is also very active in its campaigns and promotions, particularly in connecting with its customers during national and regional festivals. An in-house team has been created to continuously support the retail teams across the country for all their instant BTL advertising and promotional requirements. This has generated a lot of walk-ins to the stores.
Arrival of FDI
With FDI on the anvil, a lot of brands are eager to explore India but not without caution. Given the complexity of the Indian markets, it is not easy for any outsider to crack it very easily. And if they do, it would pose a very healthy challenge to local brands, be it product offering or retail experience! The FDI may also bring in players in the support systems division to compete with the local retail fit-out industry but not without exploring the local strength. While we have a few very good world class retail fit-out companies, many are still struggling to cope with demand, quality and timely delivery. The only way to thwart foreign brands/companies from sourcing their fit-outs away from India is for the local fit-out players to develop an eye for detail, build robust systems in fitout development, get process oriented and increase their bandwidth to support the demand.
Looking Ahead: 2013
If I have to speak about retail experience, most foreign brands do have their retail identities sorted out, but they may be open for localization as there lies a huge opportunity to connect culturally without losing the essence of their brands. But now the local players will have no option but to start seeing retail experience as an integral part of customer offering rather than an ancillary element. Retail experience should also become the talk of the town and alluringly engaging. Thus constant innovation and change in store experience design which is also low cost in its developments and implementation would help brands sustain customer interest in them. This also calls for investing in minds that would design such a support.