Top 5 Trends Driving Growth In Retail!
As per the Euromonitor report titled 'Retailing in India' following are the trends which are ruling the Indian retail.BY Indian Retailer Bureau | Apr 03, 2018 | comments ( 0 ) |
A SEAMLESS SHOPPING EXPERIENCE IS THE LEADING DRIVER OF GROWTH IN RETAILING
Retailing registered steady growth in India in 2017. One of the key demands from consumers in 2017 was seamlessness in their shopping experience.
TECHNOLOGY BECOMES AN INTRINSIC PART OF RETAILING IN 2017
Technology became an intrinsic part of retailing in 2017. From the consumer’s perspective, the use of smartphones to research information about a product, find the best price offered by retailers and buy it became a very common practice.
CONVENIENCE EMERGES AS THE STRONGEST PARAMETER WHEN CHOOSING A RETAIL CHANNEL
One of the key shifts in retailing practices in India was observed in the selection criteria. Indians were driven more towards price than any other parameter when making a decision regarding their retailing habits.
SECOND- AND THIRD-TIER CITIES BECOME THE NEW TARGET FOR EXPANSION FOR MODERN RETAILERS
One of the primary challenges that retailers face in India is a lack of good real estate locations at reasonable prices in urban areas of the country. The presence and expansion of organised retailers is very dense in urban areas.
PRIVATE LABEL BECOMES A MAJOR SOURCE OF INCOME FOR RETAILERS
Grocery, non-grocery and internet retailers focused heavily on private label brands in 2017. Consumers were no longer only price-specific, they cared more about the quality of products.
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