Being New Age Retail Ready

Let’s start with understanding what New Age Retail really means.

Then : You run out of detergent. You pick up your wallet, walk out of home to the local market, pick up a pack and return home.

Now : you run out of detergent. You have the option to:
1) Call your neighborhood grocer and ask him to deliver
2) Pick up the phone and call your nearest retail chain and order
3) Order online with your favorite chain
4) Order online at a discount site
5) Pick up your wallet and walk to your local market

This in a nutshell is the change that Indian retail is witnessing today. On one hand there is an explosion of online and modern format, on the other traditional trade is gearing up for the challenge by investing and improving on their scale and services. Net net: the customer is spoiled for choice. Neither any brand nor any one format or chain can claim autonomy.

From Identifiers to Store Designs to Ambience Creation to Retail Identity and Activation an agency needs to be adept at every aspect of retail. The biggest strength would have to be the ability to plan and manage activities at the micro level which is where most brands face a challenge. Since planning for a change at a corporate level is one aspect however achieving that plan across the country within given timelines is another matter all together.

One thing which is a must for decoding New Age Retail is shopping.
Shop for new ideas, opportunities, possibilities and ways and means to make a dream come true.

This could and should involve various traditional wings of an agency. For example digital, BTL, experiential, trade marketing and retail design will all need to join hands to be able to deliver results.

Retail in India is kaleidoscopic in variety and depth and therefore needs constant monitoring. Multi layered formats – from luxury malls to thelas, target audience that uses a BMW to a rickety cycle and an ever evolving market that is seeing foreign as well as home grown brands vying for space.

Top down planning cannot work in such a scenario, in order to have a winning retail strategy in place the most important aspect is to be able to study and differentiate nuances of the market and then respond to it in the shortest possible time. Once implemented its critical to be able to have fair audits and updates in order to retain the edge gained.