The key to sales this season: low prices June 1, 2008
Posted by Shel in Marketing, Retail.add a comment
Retailers are looking for ways to lure customers into buying their products and the key seems to be to use price, as everyone is looking save a bit of money where ever they can. Discount retailers who are accustomed to following such tactics are using circulars, coupons and the Internet to emphasize on the price factor. Target has been emphasizing the “pay less” part of its “Expect more, pay less” slogan and is using its low prices to compete with Wal-Mart. According to spokeswoman of Target, Lena Michaud, “We want to make sure that people know that our everyday prices are competitive and are highlighting this in our weekly circulars and in end-cap displays”.
In its co-op mailings with partner Valpak, Wal-Mart has increased its marketing efforts and has been focusing its messaging on price. “Consumers are trying to find ways to save money and stretch their dollars, and discount retailers are responding by pushing low prices,” said Amy King, VP of business intelligence and marketing research at Valpak. “We have seen Wal-Mart specifically pushing price in its marketing message.”
Sears and Kmart, other Valpak clients, are also tugging at tightened purse strings with coupon offers. “For the first time in 16 years, coupon redemption is up,” King noted, despite lagging returns on other print material. According to Dave Hendricks, EVP of operations at Datran Media, discounters are actively launching “winback” campaigns online.
CART information January 3, 2008
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Good News for all those interested in studying retail courses. The Retailers Association of India (RAI) will be offering a Post Graduate Programme in Retail Management (PGPRM) through tie ups with 15 business schools across the country. The Common Admission Retail Test (CART) is to be held on January 27, 2008. An estimated 1,500 candidates are to be selected for the retail course through CART.
Gibson Vedamani, CEO of RAI, says “The objective of the PGPRM programme is to provide students with a high level of knowledge and understanding of the concepts and processes involved in retailing and equip them with operational and analytical skills necessary for a professional career in the retail sector.”
For more detailed information on CART, go directly to their site. Here’s some more CART information on the 15 business schools where the tests are to be held and all the other details. The last date for applications is 17th January.
Black Friday deals 2007 November 23, 2007
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There are lots of sites where you can get the scoop on the best deals, such as TGIBlackFriday, Black Friday 2007, CyberMonday.com, Black Friday info, Deals Plus, Fat Wallet, Black-Friday.net, and so on. Most sites post leaked sales circulars on their sites, although not all will have the scoop on who is offering what at which price.
Some other top deals that we’ve culled from ads: $900 for a 42-inch 720p plasma TV, the Panasonic TH-42PX75U, (online is closer to $1000) an “early bird” special at Best Buy; and $900 for Sylvania’s LC420SS8, a 42-inch 1080p LCD TV that is an early markdown at Sears. Earlier this fall, there had been rumors among industry jockeys about a 42-inch 720p plasma TV for $600 by the holidays, but don’t hold out for this deal: Nothing has surfaced on the Black Friday spoiler sites, and Gagnon says the research firm’s own ferreting hasn’t confirmed this, either.
Writing on retail October 20, 2007
Posted by Shel in Blogging/Writing, Retail.add a comment
As a retail writer, I’ve been following the retail industry for several years now and it seems that there has never been a better and more dynamic time for the changes that have been taking place. Consumers are no longer wary of the modern retail format and are eagerly awaiting new store openings and being able to shop in a more pleasant atmosphere. The recent problems that have cropped up are political and should have no place in the retail sector. In any free market economy, consumers and producers have a choice of selecting their choice of products and prices. As long as the middle men try to control the market, the retail industry will never be able to grow at anywhere near the pace it deserves to grow. It is certainly an interesting time to watch and track the happenings of the industry but also a worrying time, hoping that things continue to move on an upward swing.
More info on Global Retail School July 18, 2007
Posted by Shel in Education, Retail.add a comment
A lot of people have been asking me about the address for Global Retail School ever since I wrote about it in this post. Well here is the link to the Global Retail School site and this is the link to the pdf file for the prospectus. So good luck with your endeavors at furthering your education.
Is the retail sector going to be run via government licenses? June 19, 2007
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This is a step backwards in my opinion, a huge step backwards if if goes through. Some news reports are reporting that due to the pressure from opposing parties, the government might introduce a license system in the retail sector so that it can protect small unorganized retailers. Local municipal corporations will have the power to decide where large retail stores come up in the city, depending on whether small retail stores will be adversely affected or not.
I really don’t see how it will benefit the common man, as you can’t force people to shop at stores that have bad customer service, higher prices and a haphazard way of stocking and reordering merchandise. Most small retailers sell products over the listed MRP, and consumers earlier didn’t have any other choice but to pay that price, but now that there are lots of choices available, consumers will shift loyalty to stores that offer the maximum benefit, financially as well as in service and convenience.
Could category killers succeed in India? June 16, 2007
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In the overseas markets, the concept of large retail stores that specialize in a narrow range of products is quite common. These type of stores are called category killers or big box retailers, for the power that comes with their size. In India, the concept is yet to catch on, although the first few steps have already been taken. Reliance Retail’s consumer electronics venture Reliance Digital and Tata Group’s Croma are both perfectly poised to convert themselves to category killers at a later time. It just waits to be seen how and when they do.
The major difference in how retail functions here and in more developed markets like the US is the non-availability of space. In the metro cities, where the main spending population lives, there is a severe shortage of large retail space along with space for parking. So, even if category killers do come to India, they will have to adapt slightly to the local market conditions.
Indians spending more time and money on online shopping June 15, 2007
Posted by Shel in Retail, Technology.2 comments
According to a study by JuxtConsult, 10.8 million of 43% of the country’s online population are purchasing products online. The survey also shows that 59% of all Indians use the internet from their homes, of which 77% are connected via broadband connections. It is the widespread use of broadband that is making this sector grow. Considering the number of people who still don’t have internet connections or use slower connections, the potential for growth is enormous. The most popular activity online was of course the purchase of travel related items, such as airline tickets and hotel rentals.
Reliance to form partnerships with local vegetable vendors June 15, 2007
Posted by Shel in Retail.6 comments
After all that hullabaloo with small-scale local vendors protesting outside Reliance Retail stores has led to the company to come up with some partnership plans with local fruit and vegetable vendors. A couple of stores in Hyderabad and Ranchi are already testing out the concept. Reliance is offering two options to local vendors, to either join their stores and get a fixed fee or to buy vegetables from them at their lower prices and share their profits. It waits to be seen how well the initiative works and if people find it good enough to stop protesting. Well, there’s no guarantee in that, as they are sure to find something else to protest against, but it’s definitely a step in the right direction for Reliance.
Reliance Mart: company’s first hypermarket to open by July June 5, 2007
Posted by Shel in Retail.69 comments
Reliance Retail’s long awaited Hypermarket is set to open in July this year. The hypermarket will be called Reliance Mart and the first store will open in Bangalore. Reliance’s hypermarkets will be in the range of 40,000-200,000 sq ft, with the Bangalore store coming in at 180,000 sq ft. The announcement of the new hypermarket was made by the President and CEO of Lifestyle Reliance, Bijou Kurien. The company will open a second hypermarket in Gujarat.
