Retailers eye tier II & tier III cities in 2013

The Indian retail market is all set to make its mark worldwide with a lot happening on the forefront. The market is ripe to enter with FDI in place, there is availability of new avenues and retail space, and the audience is all set to splurge money. The retailers are strongly eyeing the Tier II and Tier III markets as they see opportunities in the cities beyond metros. The consumers, according to the retail fraternity in these cities, are now more aware, have the money to spend but what is lacking is the reach. It is now time for retail to penetrate further.

What was well highlighted during the conference was being omnipresent in retail and also the way forward. While discussing the need, Abhimanyu Lal, Head- Category Management, eBay India, “The traditional boundaries between e-retail and physical stores are diminishing with mobile being the midway. We are no more e-retailers; we have become like a store in the consumers’ hand which also increases the level of loyalty.”

Secondly, with India reaching new heights, the need of growth is immense if one wants to sustain. Darpan Kapoor, Owner, Kapsons Fashion Pvt Ltd said, “We started from a scratch but we have never stopped ourselves from trying something and that’s the core.”

Another important aspect is the real estate and retail connect. The two need to create a strong relation in order to co-exist. So the need is to have a mix of local, national and international retailers in the mall. Moreover, what also surfaced in the session was different consumer preferences in different regions. S Raghunandhan, CEO-Retail, Prestige Group said, “South Indians prefer more local foods whereas in North India the presence of established international brands in malls is mandatory.”

At the conference, a category of retail which emerged strongly was fashion and its changing face in India. The brands are all set to expand in this arena. Pradeep Hirani, Chairman, Kimaya Fashion said, “We want to acquire 5-6 per cent of every woman’s wardrobe space with the brand Karmik.” While Alokendra Banerjee, Director-Marketing, National Textiles Corporation said, “NTC will soon introduce a Raghavendra Rathore line of collection.”

In the end, the speakers discussed about a positive 2013 for retail in the session, ‘Rethinking Growth and Revenue for retail 2013’. During the session, Abhinav Khandelwal, Managing Partner, FCML, elaborated that there is growth in the market; there are margins available; and opportunities are immense.       

Star Retail Awards

The 10th Star Retail Awards were well celebrated at Shangri La, New Delhi. Along with the retail fraternity, celebrities including actress Shilpa Shetty and Pooja Bedi attended the ceremony.

Retail Supplier of the Year: Safexpress Pvt Ltd