A difficult year has ended and as we begin the new year on a positive note, what are your thoughts with respect to the retail industry? And key takeaways from 2020 for the retail business as a whole?
To me 2021 will be a watershed year for retail. The main factor at play will be consolidation, Now, consolidation need not be mergers, acquisitions or buying. Consolidation will mean that the smaller payers will be wiped out and the bigger ones will automatically prosper. Across industries we are seeing that the big are getting bigger and the small are getting smaller and this will happen in the retail industry too. So in a sense, we can expect to see a lot of polarisation in retail.
Also, we can expect a lot of pent up demand rising due to multiple factors and the economic indicators will be positive; we will in fact forget the negative growth rate of 2020. Things are already looking up in anticipation, so overall 2021 is going to be a positive year.
What do you think should be the immediate priority areas in 2021 for those engaged in the retail business - both retailers and retail solution providers?
At this point of time they should just focus on having enough capital to run through 2021 and be able to come back to the 2019 levels of business or grow on it. So this year is going to be a year for sustenance for the smaller brands or even the middle brands. And if in 2021 you are able to sustain, then 2022 will be a fantastic growth year. So I’d say only one word for 2021 - sustenance.
This story is from the January 2021 edition of Visual Merchandising and Retail Design.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2021 edition of Visual Merchandising and Retail Design.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The Curated Art Of Window Shopping-Delhi
The new AIS Window experience center in Delhi designed by Four Dimensions Retail Design redefines the whole experience of buying window solutions in an immersive spatial narrative that blends storytelling and cutting edge technology.
Retail @ Small Town India: Way To Go?
Even as markets get re-adjusted to a post-Covid reality and retail brands realign their business strategies to shifting market dynamics, India’s tier2-3-4…markets might just be what the retail economy needs to get back on growth track.
Where the police go to shop - RAJKOT
Designed by IKS ARCHITECTS, the Dhiraj Police Store in Rajkot, Gujarat, has been conceptualised to craft a unique retail experience. Located in an urban dense fabric on the ground floor of a commercial building near the old city, the government licensed store is designed to serve the police force and associated dignitaries.
For the love of Laminates… SURAT
The EightxFour Experience Centre by Shivshakti Laminates is an experience centre of a leading laminate and veneer retailer of Surat, created in an erstwhile textile manufacturing unit. Designed by Utopia Designs, the centre’s design focuses on effective display strategies, both tried-and-tested and new, within an industrial vocabulary.
Tyre retailing takes experiential route with Bridgestone Select +
Bridgestone India, one of the leading brands in the passenger car tyre segment, recently launched the country’s first concept store in Pune. Designed by LANDOR & FITCH, the store offers an educative tyre buying and service experience, while redefining the whole retail experience in the category .
When design enables purchases in a hypermart - DELHI
Departmental stores are spaces where the functional aspects take centre stage and design is more a matter of simply enabling product purchases. But Kwality Bazaar, Delhi, designed by Aatika Manzar, accentuates the incredibly important role design and aisle planning play in enhancing the shopping experience and thus maximising sales, in a supermarket environment.
High on hospitality - RAIPUR
Spread over an area of 50,000 sq. ft., and designed by Raipur based Azure Interiors, Clarks Inn Suites,the 52 key suites hotel is all about elevating the experience quotient of the space.
The Design Divas…
It’s the month that celebrates women with the International Women’s Day observed on March 8th. In this edition, we present three women entrepreneurs working in the retail design space who share their experiences and professional insights in an exclusive interaction with VMRD. Read on…
Reformed, restyled & restored - MUMBAI
Mumbai based Miyabi store designed by NACL ( Natasha Aggarwal Creative Living) is a stress-free fashion space that enables customers to browse and shop in a relaxing retail ambience.
A rich narrative with diverse materiality - AURANGABAD
Pehnawa is a three-storey fashionwear outlet in Aurangabad, designed by Portico Design Concepts. Spread across 5,400sq.ft., the space’s striking design adds its own muscle to the showroom experience.
