VP –Marketing Lifestyle International Pvt Ltd
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.