LOCATION, LOCATION, LOCATION. It’s not just hoteliers and real estate agents who harp on this as the most important aspect of their business. Retailers, too, say much the same thing. Pick the right location for a store, and half the battle is won. Or is it?
The fact is, choosing the right location for a store is an art and science in itself. And as you go deeper into the other aspects of the retail business, you realise that location is not the only thing that a retailer needs to get right. Other components include understanding areas such as consumer trends, spending patterns, population density, competition, supply chain, and above all coming to terms with an operations-intensive business. And in India, this is just half the story.
Consider the country’s demographic spread across a very complex terrain. Their needs are catered to by 11 million neighbourhood stores. The Indian consumer is not just aspirational but discerning as well. From a larger business point of view, retail is all about low margins and that is the single, biggest challenge to overcome.
Esta historia es de la edición December 11, 2022 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 11, 2022 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
