Sudden spurt in investment has increased the demand for retail fixtures: Sanjoy Lodha
In conversation with Sanjoy Lodha, CEO, Kider India, who talks about his brand vision and shares other important details.BY Ankita Banerjee | August 29, 2017 | comments ( 0 ) |
Kider India provides end-to-end solution in terms of retail fixture. Be it a concept just at the budding stage of development or something as basic as a sketch on a paper, Kider gives shape to any idea in any form. Their plant at Pune allows them to do anything with metal sheet and wire. In an exclusive interview, Sanjoy Lodha, CEO, Kider India shares the brand’s ideas and aspiration driven attitude.
How has Instor contributed in the industry of retail fixtures? What makes its services exclusive?
Retail fixture industry in India by far has been unorganized, fragmented, regional and largely lies in the hands of a friendly neighbourhood fabricators, welder or a carpenter. There are very little or no standards being followed in this industry, in terms of product, design, quality, materials, systems, processes, ergonomics, et al. With a sudden spurt in investments in retail industry across the geographic diaspora of the country, the demand for retail fixture far exceeds the supply.
Instor with its pedigree has been able to take the leadership position by educating and bringing in standards – such as weight bearing capacity of the shelf, life of the product through SST, and following various other ASTM standards. We are confident that these systems, processes which are being set by us during the early part of the cycle will help shape standards.
What is the USP of your brand? What is its market potential?
We are in the business of display, storage and goods movement industry for the retail stores. Our USP’s are appended below:
Design approach: This enhances Instore flow and customer experience.
European Technology – globally tried and tested, with highest load bearing capacity in the industry, and most space utilization.
High Aesthetic Value even after 5000 days the look of your store remain the same as day 1.
EasySwitch and flexibity of quick to change for modifications In layout.
Single Point Execution – Concept, Design, Build, Install and Care – all under one roof.
Top Quality & Functional Designs - No Time and Money Wasted in Repairs. Never lose time in fixing units.
‘We Care’ Pledge - From warranty to on-site care, we stand behind everything we build.
How has the Indian retail segment evolved over time?
This is one of the most exciting times in the retail industry. The consumer has plenty of choices, easy access to products, information over load, unwilling to wait, digitally savvy and consumed, and heavily influenced by friends and family. Retail outlets are fighting for customer’s mind and wallet share in a market that is fiercely competitive and changing at an unprecedented pace. Basis Retail Vision Study 2017, Zebra, While online mobile commerce has transformed the shopping experience, 91% of all retail sales are still generated in brick-and-mortar stores. As a result, merchants are investing in improving the customer journey via in-store experience. It is therefore all about delivering exceptional consumer experience – each time, every time, be unique and deliver best aesthetic appeal, design for optimum customer flow and adapt quickly to align with evolving customer behaviors. The wind of change is blowing all across the Indian cities – be it tier I, tier II or many semi urban and rural areas, alike.
What is the importance of retail fixtures, visual merchandising and store design?
The buzz word being ‘exceptional consumer experience’, all the 3 play a crucial part in delivering it. It starts with product display and accessibility, customer – product interaction and in-store flow. Think for a moment – would anyone buy products placed on rusted, bent or chipped shelves? Why or why not? It immediately diminishes the value of the product and ultimately of your stores. Further the cost of change and repair of the display units are extremely high and often results in significant loss of business and clients, sometimes.
What is the current retail market size? What kind of growth can be expected?
As per industry reports, the total retail business is estimated at 11 million sq.ft. in January 2017. At an average of Rs 200 per sq.ft., the retail fixture market is INR 2.2 billion, out of which the addressable market is estimated at INR 2 million.
How did Instor grow in India? What challenges did you face?
We have grown very steadily in this industry and have gathered momentum in the recent times which we will continue with. We have some ambitious plans with definitive timelines, which we are executing currently. The idea is to create a brand in the industry, set benchmarks, and become leaders in terms of design, products, manufacturing, processes, systems and et al.
The challenges we face are much akin to any organization trying to lead the industry and benchmarks in an industry with is devoid of any thing called ‘standard’. Consequently we set own benchmarks and try to improve upon them. We also understand the importance of systems and processes are first things to be set before any performance leaps and scalability can be achieved.
What plans do you have for expansion?
We have now a Pan India presence and have serviced clients from Kashmir to Kerela. We have our sales, service and installation in most major cities. Our plan is to further deepen the penetration through the channel partners. Concurrently we have our horizons set on exports too. We have exported to a few clients in the Middle East and developing the export market is definitely on our immediate agenda. On the manufacturing front, aside from the modern plant and machinery that we already have, we are doubling our capacity and have invested in automation and robotics. We understand the importance of able human resources. We have and we will continue in investing in human capital to build capabilities that are required to lead this industry.