De­vara­jan Iyer

VP –Mar­ket­ing Life­style In­ter­na­tional Pvt Ltd

VM&RD - - WHAT'S IN STORE? INDIAN RETAILER -

In Ret­ro­spect: 2012

2012 has been an in­ter­est­ing year. While the first few months, con­sumer sen­ti­ment was muted, to­wards the later part of the year es­pe­cially dur­ing fes­ti­vals sea­son the en­tire re­tail in­dus­try wit­nessed a strong bounce back and good growth. We feel with our ap­proach to busi­ness which al­ways in­volves lis­ten­ing to cus­tomers, con­stantly adapt­ing and de­liv­er­ing as per cus­tomers need and wants has helped to meet cus­tomer ex­pec­ta­tions well, help­ing us achieve our busi­ness goals.

Look­ing Ahead: 2013

Com­pa­nies will have to find in­no­va­tive ways of reach­ing out, un­der­stand­ing and meet­ing the un­said needs of their con­sumers. Good qual­ity mer­chan­dise at af­ford­able price points will con­tinue to be the key to win loy­alty of the dis­cern­ing In­dian con­sumer. Apart from this, con­sumer en­gage­ment also plays an im­por­tant role. In ad­di­tion to tra­di­tional plat­forms like in-store ex­pe­ri­ence, cus­tomer ser­vice and loy­alty pro­grams, new medi­ums like so­cial me­dia are fast be­com­ing pop­u­lar. Con­sumers in­creas­ingly reach out for in­for­ma­tion on the lat­est trends, deals, opin­ions, fash­ion ad­vice and much more. Traf­fic re­ferred from so­cial net­works is low but mostly the medium is used to gen­er­ate aware­ness and not di­rect sales. Re­tail­ers will have to get smarter about how to use the so­cial chan­nels to gen­er­ate cus­tomer de­light.

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