Global retail trends
The future of retailing has been the subject of significant speculation over recent years, particularly with the advent of direct marketing and internet shopping.
For the foreseeable future, most retailers will be faced with the challenge of attracting shoppers to their store, persuading them to spend money once inside and achieving this with the most efficient retail operations.
Internationally, the retail trade is becoming more concentrated with global retailers increasing in importance. In many countries, strong private labels put pressure on proprietary brands – an extreme example is the UK, where private label accounts for 55% of packaged grocery expenditure.
In other areas of retail, the advent of “category killers” has driven categories such as toys and babycare out of traditional trade channels and into large specialised stores.
From an operational point of view, many retailers are devoting significant effort to cutting costs out of the supply chain. The development of electronic commerce is key to this process.
The retail challenge
The retail scenario in India is changing fast, with organized retail gaining ground while traditional formats innovate to compete.
In order to capture the expanding consumption phenomenon in India, organized retail is increasing footprint, differentiating their banners and trying to provide the best experience to their shoppers.
- They need to understand the impact of location, across urban and suburban centers and accurately forecast demand in new stores.
- In an inflationary environment where shoppers are increasingly value conscious, knowing the efficacy of pricing and promotions is key to balancing sales and profitability
- Establishing the right store layout and assortment is the first step to delighting shoppers.
- Further, establishing a banner’s identity and differentiation in a dynamic environment will drive longer-term shopper loyalty.
Your competitive advantage
Nielsen has a wealth of experience in helping retailers understand their market drivers. We have a large team of executives dedicated to helping retailers understand their business via the intelligent application of marketing research to specific business issues.
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