Ride The Impending Growth Wave
The Indian retail sector which was estimated at $520 billion in 2013 is expected to grow at a CAGR of 13 per cent to reach $950 billion by 2019. Importantly, organised retail which accounted for a mere seven per cent of the retail sector in 2011-12 is projected to grow at a CAGR of 24 per cent to assume 10.2 per cent of total retail by 2016-17. Foreign direct investment (FDI) inflows in the retail sector too has picked up, with inflows in single-brand retail trading alone reaching $137.70 million in the period April 2000 - July 2014, as per data released by the Department of Industrial Policy and Promotion (DIPP), Government of India. The positive impact of these indicators will be clearly seen on the country’s visual merchandising and retail design landscapes. As new brands foray into the Indian market, fresh demands will be placed on the VM and retail design firms and professionals to come up with concepts that ensure a visible presence for each of the brands on the highly competitive domestic retail landscape. While building innovative concepts, the design industry could perhaps keep in view themes and issues that readily connect with the target audience. Odel’s work of art sensitising people on the protection of whales is a case in point. To commemorate the World Animal Day, Odel created an atmosphere at its store talking about whales and their underwater friends. VM and retail design can also bring alive many of the country’s traditional markets and practices. Today, as brands penetrate the non-metro cities and towns, the spheres of traditional retail players and new generation brands are clearly intersecting. The traditional Peth area of Pune illustrates this trend. This edition of VM&RD brings forth several emerging trends seen in the retail space. I hope that you will enjoy reading the articles. Do send in your feedback and suggestions.