Ride The Im­pend­ing Growth Wave

VM&RD - - NEWS - Ra­jiv Raghu­nath

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.

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