Posts

Showing posts with the label Greenland

End of Season! End of Party time?!?

Image
Late 2009 was the time when one could see the slow down of the 2008 Economic slowdown in India. While rest of the world including America, Japan and parts of Europe were down with Recession (read: 2 Quarters of continued negative economic growth), India was seeing its GDP grow at a modest 7%. As Kishore Biyani, CEO Future Group once said in 2008, “Consumers are sitting on the fence, not really knowing when and what to spend”. How true, it was at that time. And then 2010 happened. Growth was the new buzz word and Retailers were back in action. New swanky stores, additional staffing, high-paid executives in the upper echelons and yes, a double digit same store sales growth which was being celebrated by one and all. All izzz well – the song from the movie “3 Idiots” was the most hummed song among the Retail fraternity thereafter for the next 18 months. Photo Courtesy: Times of India Consumers who were holding on started buying new houses; furniture and furnishings for their new/old hous

David vs. Goliath – Retailers and Kiranas. Long Live David.

Image
I was actually not so surprised to see the store closed for a few days, although really felt bad about it. The first time I entered the store ever since I moved to my new locality, I really didn’t get the right vibes – somehow, these psychological factors work a lot in Retail. The store was in a good location, with grand visibility due to a small curve around, was located in the upper ground floor, which means one has to take a few steps to reach the store and even had unlimited car parking facility along the road side. So, there were actually no concerns about the location per se. But once inside the store, I somehow felt that this store wasn’t doing too well. The category mix was just fine, although in my first visit (which was during the first week of the month), I didn’t get as many as 6 items in the monthly shopping basket. The staff attitude was good – atleast not so bad given the indifference that we see at many other similar retail stores. The stench (of Non-Veg Food) for a h