The Indian retail landscape has changed over the last twenty years with the advent of modern trade. Damodar Mall has worked in D Mart, Big bazaar and now is the CEO of Reliance Retail.
This is an insightful book about the changes that he has seen.
2. Growing consumer income,
aspiration and explosion of choice
in the market has given rise to
continuously changing purchase
behavior. From food to furniture ,
we are using very different things
from a decade ago.
3. There is a new game in town – the
game of freedom of ‘
shoptainment’ of open brand
flirting and of savings as a
participative sport.
4. Men and women shop differently.
For example if a man takes a shirt
to the trial room, there is a 66 %
chance he will buy some shirt at
the store. With a woman it is less
than 25 % chance that she will
buy.
5. The conversion is highest when
two women shop together,
followed by a woman alone and
then a man and woman together.
A man alone is the worst.
20. While incomes have grown, the
wardrobe size has remained the
same. Only 10-15 % of consumers
have bought new houses and
redesigned their home with a larger
wardrobe. So apparel brands have to
sell higher value products if they want
a place in the wardrobe now.
21. Social media is influencing fashion
choices. Real time posting of
pictures, comparisons and
commenting is driving this.
22. Clothes can give an indication of a
man’s profession. The American
TV show SUITS , as the title
indicates all about lawyers.
23. Professionals in India, especially
Multinational executives dress to
show that they belong to a club. A
manager is one who while leading
also wants to show he conforms.
24. The Indian entrepreneur needs his
own statement of power. This he
derives from his clothes, his
accessories, phones, cars, pens
and so on – he uses these to signal
his distinctive taste, influence and
power. ( early brands were Double
bull and Charagh Din)
25. The modern departmental store
hasn’t understood this difference
between professional and self
employed.
26. Most small and medium
businesses in India are official
capital starved.
27. Global brands like Pizza Hut and
Mc Donald's have made their
menu available from rs 50 to Rs
500. This has allowed the Indian
food like the humble idli, paratha
etc. to be priced up and hence we
see a lot of innovation to go up in
Indian food.
28. Indians need computers to
organize themselves but they also
want the reassurance of a human
interface to guide us through
every transaction.
29. DIY or do it yourself is a western
concept, Indians are more DIFM –
Do It For Me.
30. If you need to show real Indian
imagery and stories, you need to
stay sensitive to cultural
boundaries of behavior.