Traditional Indian retailing is in dire straits, with the onslaught of organized retailing, even as they still play a domineering role in the retail market. There has been a wide scale entry of organized retail players in the industry, as leading corporate giants make their foray into a vibrant market, challenging the clout exercised by unorganized retailers. Unorganized retailers on their part are giving a stiff competition, putting up a big fight to zealously guard their turf. These trends have given the traditional retailers a serious time for thought to relook and review their action plans. In order to move along with the changing times, unorganized retailers have to revamp and remodel their outlets.
Traditional retail consisting of convenience stores, weekly markets, road-side stall, street vendors and mom and pop outlets are in deep trouble; their business models that have been running successfully for years, generation after generation is under threat. They have to strategies and formulate plans of actions so that they can exist side-by-side with the organized retailers, without hurting their business interests. Organized retail, run by big companies have introduced novel ideas and plans that have paved the way to gain a foothold in the vast unorganized retail market in India; they are on the way to wipe out their traditional counterparts.
However, unorganized retailers do have certain tricks under their sleeves that would act as an impediment to the intruding organized retail players. Unorganized retailers enjoy a good rapport, developed over the years, with the consumers. With features like home-delivery, proximity to residential suburbs and credit facilities, they still have an edge over the new entrants. Traditional retailers have to play these cards very cleverly, close to their hearts, so that they can maintain and retain their customer base by building on these positive factors and succeed in the Indian retail market.
Focusing on products and services like perishable food, groceries and other household items that would save time and energy for consumers, who don’t have to take the unnecessary trouble of traveling miles, to get them would be a good fillip and impetus to unorganized retailers. Innovation is the order of the day; and traditional retailers have to redefine their policies to maintain their turf from being overrun by the biggies.
Mark Stepen is a Consultant with a wide range of experience in the Indian Retail Industry , specialized in Retail Brand Management, Supply Chain Management, Franchising in India , Visual Merchandising, Mall Management and other niche areas. Article Source:http://www.articlesbase.com/small-business-articles/traditional-indian-retail-fights-for-their-turf-1404730.html
