Retailers are Offering Discounts for customers purchasing on odd hours.
Examples:
1. OKaidi: Children's apparel and accessories offering 20% discounts on the purchase of its usual T-shirts, Chemises and other items between 10 am and noon- Monday through Thursday. Okaidi registered a 200% Hike in sale.
2. Fashionandyou.com, an e-commerce site selling premium brands, let customers win free luxury gifts every 15 minutes between 5pm and 8pm
3. Cinemax introduced "3 Idiots" with 28 shows daily in some places, the first would start at 6 am. Audience number pushed up by 100%.
4. Candies, a restaurant, offers 25% discount on food between 8pm and closing time. Their unsold inventory has reduced from 15% to 2% at the end of the day.
5. Big Bazaar offers deep discounts every Wednesday, otherwise a lean day.
Benefit to the Comapnies
1. Boosts revenues
2. Eases seasonal and peak-time customer load
3. Improves manpower utilisation
4. Attracts new entry-level customers which otherwise might not have come.
5. Customers for such promotions also tend to buy at full prices.
Dangers
It might wean away customers willing to buy at full price.
The objective is to increase the sale, assuming that the peak hour sale remain the same. However, this assumption may not be valid.
Read Full Article Here
Showing posts with label retail trends. Show all posts
Showing posts with label retail trends. Show all posts
Tuesday, May 18, 2010
Unorganised Retailing in India - Making Big Bucks
Local Brands are doing more business than any of the multi brand outlets.
1. RMKV is a 100, 000 sq feet department store in Tiunelveli. It does a annual sales of Rs. 115 crore. This is more than any single Lifestyle, Central or Shoppers Stop store in the country.
2. Kalyan Silk, in Trissur has a 85000 sq feet, reportedly doing a business of 100 crore per annum. Also they have 125000 sq feet ninelevel megastore in Ernakulum, Kochi. It does more than 150 crore.
3. Pothy's in Panagal Park Chennai does 150 crore.
4. even a smaller 12000 sq feet Mysore Saree Udyog store in Bangalore does close to 100 cr per annum.
5. A collection of the 4-5 Alfa stores in Irla in Vile Parle (West ) in Mumbai does an annual sales of well over 200 cr.
6. Compaing the largest Lifestyle or Shoppers stop is still below 80000 sq ft.
7. Also highest selling Central barely manages Rs. 100 cr, Lifestyle is under 95 cr and Stopper's stop is under 75 cr.
8. Comparing return to realitors, a 40000 sq ft Pothys store after doing 100 cr, with 4.5% revenue share, the landlord gets a rent of Rs. 93.75 per square foot per month on carpet area.
9. On the other hand a 40000 sq feet store of a Lifestyle even at 7.25% revenue share, after doing a business of 45 cr will yield 67.97 sq. ft.
Thus there is a lot of way that the organised retailing has to cover to compete with their non organised counterparts
Read Full Article at
Retail Trends: Taking Advantage of Auspicious Days
1. Future Group made Rs. 150 Cr. in Additional sales on Akshay Tritiya.
2. FG is focussing on Panchang - Hindu Almanac- to target their promotions.
3. About 30% of the total sales of modern retailers come from promotions around festivals.
4. FG is targeting 1/3rd of 150 auspicious days in the Hindu Calendar.
5. FG consulting with Mumbai based Salgaonkar Family, publishers of Kalnirnay, Indias largest selling Almanac ,with 10 m copies a year.
6. 60-70% of shopping of customers happen during festivals.
7. At least 40-50% takes place during the peak festival season, between September and November
Please read the full article here
2. FG is focussing on Panchang - Hindu Almanac- to target their promotions.
3. About 30% of the total sales of modern retailers come from promotions around festivals.
4. FG is targeting 1/3rd of 150 auspicious days in the Hindu Calendar.
5. FG consulting with Mumbai based Salgaonkar Family, publishers of Kalnirnay, Indias largest selling Almanac ,with 10 m copies a year.
6. 60-70% of shopping of customers happen during festivals.
7. At least 40-50% takes place during the peak festival season, between September and November
Please read the full article here
Thursday, May 13, 2010
Trends in Apparel Retail
1. Ethnic Wear is the flavour of the season
Fact-File
1. For Max, the value retail arm of Landmark group, women's Indian wear account for 25% of their revenues.
2. Planning to introduce saris in their next store in Chennai.
3. For Landmark premium department store, Lifestyle, the ethnic wear accounts for 20% of their sales. the ratio of western and ethnic wear has improved from 70:30 to 50:50.
Fusion Wear: Combining Indian and Western Outfits.
4. Lifestyle Indian wear Label, Melange.
5. Shopper's Stop has introduce a new fusion wear label, Haute Curry. For them Indian wear account for 25% of their sales.
2. Big Brands are heading for North East
3. European Brands continue to Coming in India
4. Concept of Family Stores gaining Popularity
5. Hyper Markets are gaining Popularity
1. Spenser's Retail plan to open 15 Hypermarkets in FY11.
2. Franchise Tie-ups with three international Apparel brands- Ecko Unlimited, UK Based kid Brand Ladybird and premium casual wear brand Beverly Hills Polo Club.
3. Planning to open 20 exclusive Beverly Hills Polo Club stores in the NCR region, Punjab and Mumbai.
4. planning to raise the contribution of apparel business from 10 per cent to 30 per cent.
5. They have shut down 100 super stores last year
Fact-File
1. For Max, the value retail arm of Landmark group, women's Indian wear account for 25% of their revenues.
2. Planning to introduce saris in their next store in Chennai.
3. For Landmark premium department store, Lifestyle, the ethnic wear accounts for 20% of their sales. the ratio of western and ethnic wear has improved from 70:30 to 50:50.
Fusion Wear: Combining Indian and Western Outfits.
4. Lifestyle Indian wear Label, Melange.
5. Shopper's Stop has introduce a new fusion wear label, Haute Curry. For them Indian wear account for 25% of their sales.
2. Big Brands are heading for North East
3. European Brands continue to Coming in India
4. Concept of Family Stores gaining Popularity
5. Hyper Markets are gaining Popularity
Fact File
1. Spenser's Retail plan to open 15 Hypermarkets in FY11.
2. Franchise Tie-ups with three international Apparel brands- Ecko Unlimited, UK Based kid Brand Ladybird and premium casual wear brand Beverly Hills Polo Club.
3. Planning to open 20 exclusive Beverly Hills Polo Club stores in the NCR region, Punjab and Mumbai.
4. planning to raise the contribution of apparel business from 10 per cent to 30 per cent.
5. They have shut down 100 super stores last year
Subscribe to:
Posts (Atom)