Changes in the approach to retail in the last few years in terms of formats

One of the biggest trends in the retail space is that there is more focus on augmenting the brand experience for customers. Shopping habits and consumption behavior have become more evolved; consumers evaluate more options now. Retailers have as a result heavily invested in various retail formats such as supermarket, hypermarket, convenience stores, cash and carry stores which have also impacted consumer behaviors. For durables and appliances physical retail is still a powerful medium as it gives an opportunity to experience online retail.

New formats being explored

Eureka Forbes is present across all formats in traditional and organized retail. We have a strong support of priority dealers as well.

We are currently pursuing setting up exclusive brand experience in the form of Eureka Forbes Health Zone, a new retail model based on the shop-in-shop concept.  Eureka Forbes is also their augmenting physical retail presence with online presence.

Number of outlets currently across India, new expansion plans

We have close to 16,000 multi brand retail outlets across traditional and augmented retail outlets

Examples of innovative in-store initiatives done in recent past, how Eureka Forbes helped in sales conversion

A great initiative which ensures Eureka Forbes' exclusive brand experience to consumers is the Eureka Forbes Health Zone. It is a unique retail model based on the shop-in-shop concept which will provide focused brand experience and expert advice from trained personnel at the outlets. The health zones in retail stores have trained personnel providing expert guidance and support to help consumers with choosing the right product and technologies for their families.

How retail experience influences customer's buying decisions

For consumer durables and home appliances customers want to touch and feel the products before making any purchase decision. With media explosion and increased awareness they seek opportunity to explore and evaluate brands both online as well across physical stores. Even if they will ultimately purchase it online, they'd like to experience the look-and-feel of the product.

Shopper insights

The new age shopper is evolved, demands the latest and best willing to spend provided she sees value. Not constrained by resources, thanks to huge number of youngsters finding their way in service and other industry.

A brand has to recognize aspirations of this shopper and evolve to ease out the needs.

Retail as a marketing tool in comparison with other media

Compared to other forms of marketing, retail marketing works well because it brings the customer to you. Consumers who shop in a particular store are demonstrating their initial interest in the products because of which the task of marketing the products and services further becomes easier. Retail marketing is easier to control, adjust and customize according to the situation, the specific customer and the needs of the brand.

Unlike a print ad that will run for a predetermined length of time and cannot be altered, or a radio spot that must be rerecorded if changes are necessary, retail marketing can change from one day or even one hour to the next as the market and the conditions warrant. Unlike other marketing tools, retail marketing orientation is most effective when the business aligns its product with the group of consumers most willing to buy it.

Challenges in in-store visibility execution     

Maintaining consistency of visual merchandising and ensuring that display doesn't get disturbed is the biggest challenge.

Expectations from retail solution partners

1)    Ability to understand brand needs

2)    Innovative and effective solutions within defined timelines.