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Let the Brand Stampede Begin, India is waiting
Mar 28, 2006
The annual sales of Indian retail industry are estimated between $200 billion and $280 billion. Recently the Indian government opened its retail market to 51% FDI by single brand stores. It places companies that sell multiple goods under one brand enabling their participation in the retail industry. This would let all types of retail goods with popular labels at branded stores making the subcontinent the fastest growing retail market.
The government’s liberalization policy is welcome news for the world marketers of top labels, who already sell their goods through the country’s limited homegrown, domestically owned and operated retailers. The single-branded consumer products range from apparels to shoes and mobile phones to cameras, which would be allowed to invest for a majority stake in retail shops selling one brand.
The timing of the policy came just one day before Indian Commerce Minister, Kamal Nath discussed among many things the potential for India as a destination for investment, at the Davos gathering of worldwide government leaders and business heads in Switzerland.
In a recently published market research report named, “Indian Organized Retail Industry (2005-2007)” prepared by RNCOS, experts provide an assembled view of the Indian retail industry. The 51% rule does not prevent institutional investors from acquiring a stake in any Indian retail company. Foreign institutional investors (FII) such as mutual funds and pension funds are also permitted to invest 100% in India’s retail market.
The report also provides data on consumer behavior and insight into consumer needs found in retail channels. It gives suggestions on how manufacturers and retailers can better exploit the opportunities in retail sales including frequency of retail store visits and average spending on each visit.
It has been found that consumers’ impulsive purchase of confectionaries along with food and beverages contribute the largest to the retail sales. Also people spend more for value instead of convenience.
According to the report “Indian Organized Retail Industry (2005-2007)” by RNCOS the strong consumer demand for retail shopping has made the convenience stores sector one of the most proliferating forces in the entire retail. The market research report compiles a comparative study of the various business houses involved in the retail stores.
For more information visit: http://www.rncos.com/Report/CP15.htm
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