Retail industry has weathered economic downturns, consolidating locations and distributions and investing in personalized shopping experience. Departmental stores, hypermarkets, and specialty stores have in turn facilitated consumer awareness and brand consciousness across different socio-economic strata. India’s consumers still demand a customized shopping experience, but with the flair of luxury, choice, brand and quality.
As the retail sector moves towards a more concentrated organized industry, global and domestic retailers will have to rely on innovative methods of bundling their products and services to hold the attention of consumers. High growth implies developing strategies for tapping into the large rural market that awaits the effects of the retail boom. In addition, companies will need to continue to focus on strengthening and maintaining their brand in urban areas.
Browne & Mohan’s Retail practice engagements include: