CITYLIFE RE­TAIL

Images Retail - - MARKET DYNAMICS -

Citylife Re­tail Pri­vate Lim­ited came into ex­is­tence in 2011 with an aim to pro­vide a higher lifestyle and fash­ion­able styles to the peo­ple liv­ing in ru­ral and semi-ur­ban ar­eas. The brand has a strong pres­ence in Tier II, III & IV cities.

Cur­rently, they have 91 op­er­a­tional re­tail out­lets span­ning across 9 lakh sq. ft. in nine states of the East and North- East.

Growth Rate in Odisha Mar­ket

Citylife has 13 stores in Odisha and they are open­ing three more in the next six months.

“We are very pos­i­tive about Odisha. It is in grow­ing state due to its nat­u­ral re­sources and ge­o­graph­i­cal pres­ence. Sta­ble pol­i­tics is also hav­ing an added ad­van­tage as far as that re­gion is con­cerned. Our SSG is around 18-20 per­cent. Sales con­tri­bu­tion from Odisha is around dou­ble digit in our to­tal top-line. For Citylife, ap­parel pro­duces the max­i­mum sale, round­ing up to 85-90 per­cent of our to­tal busi­ness. We have all our stores in high-street. The on­line count in our in­dus­try is ap­prox­i­mately around

7-8 per­cent, malls have 1517 per­cent and rest is still man­aged by high street. It’s a very good mar­ket for us,” says Subas Prad­han, Chief Fi­nance Of­fi­cer, Citylife Re­tail.

“The fun­da­men­tal has changed as far as re­tail is con­cerned from be­ing sell­erled to be­ing buyer-led. Now, the buyer has many op­tions to choose from – there are a lot of com­peti­tors. Lat­est fash­ion and value for money prod­uct, bet­ter shop­ping ex­pe­ri­ence, has­sle free billing is also driv­ers for shift in par­a­digm. We buy the prod­uct from the man­u­fac­turer and re­plen­ish it based on the de­mand in a time pe­riod of 30 to 45 days. In our case, our cus­tomer is more fo­cus on price point which will dis­count the lat­est fash­ion to some ex­tent,” says Prad­han.

The Im­pact of Tech­nol­ogy

Ex­plain­ing the ben­e­fits of Tech­nol­ogy on their busi­ness, Prad­han says, “Tech­nol­ogy plays a piv­otal role in our busi­ness. E-com­merce is im­pact­ing brick-and-mor­tar busi­nesses in Tier I & II cities.

How­ever, we pro­vide them with the touch and feel fac­tor. When we look at our con­sumer, more than 90 per­cent of them would like to buy the prod­uct af­ter feel­ing or touch­ing the same, hence there is a very small im­pact of on­line in our busi­ness model. We have de­vel­oped an app for con­sumers which up­dates them on our lat­est prod­ucts and of­fers by send­ing them no­ti­fi­ca­tions,” he con­cludes.

4VCBT 1SBEIBO $JUZMJGF 3FUBJM

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