THE INDIAN RETAIL SOIREE: KEEP THE PARTY ON..VOL. 2

Dr. Amit Aggrawal: Associate Professor
Centre for Fashion Business,
Centre for Retail Management &
Centre for IMC and Brand Management
There are immense concerns in the retail sector to grow in India. Still, there are umpteen opportunities at the same time which are working as a catalyst for the growth and development of the Retail sector in India and driving India to be the next retail leader of the Global economy in general and the Asian economy in particular. As any developing economy India has a number of issues related to weakness of currency, unemployment, illiteracy, etc. still we are working a lot as also the governments in India have been instrumental enough to strengthen the economy. Therefore, the resultant effect is that we have a lot of new business coming up in the economy in yester years as also now. This is surely going to boost the retail sector as it is the cyclical effect. The strengthening of economy leads to more of industrialisation, which in turn generates employment and gradually raising the purchasing power of the citizens and rise in demand. To scale up the full circle of the retail industry “Big Data” has been very scientifically utilised so as to understand the demand and implement positioning to those segments of the market which can be targeted with respect to Brand Mission. The brands in online retailing garner full information, definitely respecting the privacy of a consumer so as to position various products complemented with good merchandising. In in store shopping a consumer can generate multiple unique data in a single visit from various sensors placed throughout a store, indicating where they will go, at what point they make the decision to pick up an item. This information can be used by the retailer to get an idea of where products and promotions can be placed to maximum effect. We in Indian Retail operations are still working on various such ideas to make shopping an “Experience” with immense opportunities for the retailer to garner the information about the consumers without bothering them. This phase is eventually very righteous for the growth of Indian Retail Sector and “Keep the Indian Retail Party on” in a way so as to provide better products and services to the consumers.
*****
Asssociate Professor-  Dr. Amit Aggrawal has around a couple of decades of experience in the Higher Education and Corporate Sectors. He has earlier worked with prestigious organizations like National Institute of Fashion Technology (NIFT), Businessworld and C.K. Birla Group. Teaching, training, research and learning are passions that drive him to excel every day. Dr. Aggrawal’s forte lies in being a good listener which helps him in empathizing with the students.

Comments

Popular posts from this blog

From SETU: the man who shot Dangal, Kahani, Taare Zameen Par…

HRM in Print, Graphic, Digital Media & Tourism

Why Ad Filmmaking and Promo Filmmaking a good career option?