Friday, March 13, 2009

Chennai's retail power !

Chennai, one of the metro cities of South India , has always been a great hub for retail.
Be it Parry's,Mylapore,Purasawalkam or the buzzling T.Nagar , its always been a scene of high action for retail sales.
Recently when I spoke to few retailers and retail corporate heads , the current recession definitely has had an impact on the sales .The impact however is more pronounced in malls and bigger stores where the footfalls have come down.
However for an Indian consumer who is extremely price conscious, retailers seem to have the right answers by charting out marketing campaigns which delivers value for money .
Known as 'Walmart of Chennai'- 'Saravana Stores' never seems to have a dip in sales , as everyday when I pass by the store in T.Nagar, I could just see enthusiastic shoppers coming out with atleast three to four plastic covers full of goods.
Yet another store which has drawn inspiration from Saravana Stores and grown across India is the 'The Big Bazaar'.Last week I happen to visit their store and was impressed by their Great Exchange Sale.Was fascinated to see customers coming in cars with loads of old goods to get them exchanged for coupons, which could be used for buying fresh goods in Big Bazaar.
Definitely Indian retailers seem to have the right answers for boosting sales - recession or otherwise !

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At 3:42 AM, Anonymous sudha said...

A large number of these retailers are caught in short-term debt maturities and now there is recession too. With too much of refinancing risks, I also wonder how some them remain afloat.

On the other hand, such ones as Subiksha and Pantaloon-Retail do feel the pinch.


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