INDUSTRY SPECIAL RETAIL FLOORING
The Indian organized retail Industry is growing at 21% and VM&RD’s estimates the top 25 retailer to be building about 14.5 Million sft of retail space in this year opening up opportunities for the Retail Flooring Industry. In the retail industry, fundamentally, there are three key ways to procure flooring material – form branded local manufacturers from their catalogue, imported flooring dealers and on-site installations of natural materials by nonflooring resources. In India retailers spend about 90-150 Rs per sq.ft.. which is a mere 5-8% of the total capital expenditure.
VM&RD chatted with some key players in the retail flooring industry to collect some key elements that drive the growth and updation of this category.
Specs criteria: Flooring materials are of two main kinds – the natural and the engineered, used for various applications in retail. The top three criteria for selection of flooring material for retail environments are Durability, Anti-skid properties and Low Maintenance. The first is owing to manage heavy footfalls and fixtures, the second for safety and the third for maximizing ROI.
Supply criteria: Since Brands have to rapidly expand in several cities across India, the availability of flooring in every location is critical.
Customization: With the need for brands to differentiate, the popularity of customized flooring is on the rise. Manufacturers are investing in qualified designers and design facilities to cater to this requirement. Highdefinition (HD) technology enables the transfer of realistic images onto tiles.
Technology: A 3D Tile Visualizer has been developed that enables the user to visualize, through virtual reality, how certain products will look in his or her space prior to purchase and helping the buyer to make an informed decision. Am app too have been developed to help prospective customers get product and store location information at the tip of their fingers.
Trends: Internationally, use of cement products has been on the rise for the last few years, and industry analysts are predicting this trend will continue for the next decade at least. The products in demand internationally are cement encaustic tiles, casted terrazzo, and micro cement.
3D cladding tiles are also in to create a textured differentiated look in large features spaces al. The wall claddings can also be painted or polished depending on the need. Technological advancements have led to the development of new innovative products and do-it-yourself (DIY) installation techniques, which has substantially widened the scope across retail flooring applications
VM&RD now takes you through the portfolios of a selective bunch of leaders that specialize in retail flooring to get a glimpse into the direction of the industry in terms of growth, achievements and development.