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There are some interesting
trends that I have recently
been noticing across neighborhood localities
in Bengaluru. Hailing from a marketing background, I
have internalized the orientation of scanning the marketing
environs that point out insights predictive of future trends as well as
proving hypothesis of current modalities of operation. It is really amazing
to realize the magnitude of the potentialities of insights that
wait to be discovered and rediscovered, providing triggers to the
`tipping point' of a better paradigm. Recently, as I was passing by some
of the key localities across south Bengaluru, I noticed how
retail stores are setting up shop(s) well into the heartland of
residential localities albeit across a range of retail formats. Thus, new shops
are opening in neighborhoods spanning across categories such as
apparel (formals, casuals, and inner wear), footwear, and food/fast-food
outlets. The kirana stores are flourishing
and coexisting along with apparel and consumer durables category
retailers in a variety of formats, in these local neighborhood commercial
strips. The neighborhood retailers have mushroomed in all possible
shapes and sizes. All these does not
of course preclude the possibility of
malls/hypermarkets/shopping center coming up within the
range of a few of these neighborhood localities. Basically, retailers
are increasing their retail store footprints well into the nook
and corners of the local neighborhoods.
Kirana stores continue to rule the roost with
customer catchment base being the local residents across the
socio-economic strata. For example, even in most of the
SEC-A households with fleets of servants, the
grocery/food purchases are mostly done by the servants, sourced from the
local kirana stores. This is primarily because of the proximity of
the kirana store to the household, as well as the leverage to
purchase merchandise on credit if the finances are not kept by
the householder for unforeseen expenses. The kirana stores are also making inroads
towards being absolutely close to the customer, on a scale that can
be extended by making home deliveries on orders taken
over the telephone. Unmatched convenience is offered to
the customer, to call the local kirana store for ordering
merchandise to the desired household at the desired time. The customer
is identified on a personalized basis and is in return
offered customized service on a name-basis (guess direct marketing
is still miles from achieving such efficiencies of scale)
that generates tons of goodwill, trust and happiness in the
entire shopping process. |
