Deserving mention is PRIL’s latest initiative, which is a ho
me improvement retail store spread across a generous area of 125,000 square feet and christened ‘HomeTown’, which, apart from selling home-making products, also offers additional services like financing. Then there is the Mukesh Ambani punch with his format of white goods retailing, ‘Reliance digital’, which was launched on April 24, 2007. Reliance is further planning to open up 150 such stores by 2011 and is injecting an incredible Rs.250 billion for the purpose.
So what’s different for the consumers here? Well, unlike stodgy, run-of-the-mill consumer durable stores, this modern format provides auxiliary and non-conventional support services like pre-sales support, elaborated product knowledge, et al. Hence, just as we might have heard it, this format of retailing only goes a step ahead in testing the attractiveness of value-added services and proving that the ‘customer indeed is king’! Affirms Ajay Baijal, President, Consumer Durable & IT, Reliance Retail Ltd., “Regular retail stores can’t offer after-sales services and this specific format of retailing will drive the growth of the consumer electronics market.” Such innovations in retail will also bring smiles to players in sectors like the Rs.300 billion Indian consumer durables industry and the Rs.450 billion FMCG industry.
me improvement retail store spread across a generous area of 125,000 square feet and christened ‘HomeTown’, which, apart from selling home-making products, also offers additional services like financing. Then there is the Mukesh Ambani punch with his format of white goods retailing, ‘Reliance digital’, which was launched on April 24, 2007. Reliance is further planning to open up 150 such stores by 2011 and is injecting an incredible Rs.250 billion for the purpose.So what’s different for the consumers here? Well, unlike stodgy, run-of-the-mill consumer durable stores, this modern format provides auxiliary and non-conventional support services like pre-sales support, elaborated product knowledge, et al. Hence, just as we might have heard it, this format of retailing only goes a step ahead in testing the attractiveness of value-added services and proving that the ‘customer indeed is king’! Affirms Ajay Baijal, President, Consumer Durable & IT, Reliance Retail Ltd., “Regular retail stores can’t offer after-sales services and this specific format of retailing will drive the growth of the consumer electronics market.” Such innovations in retail will also bring smiles to players in sectors like the Rs.300 billion Indian consumer durables industry and the Rs.450 billion FMCG industry.
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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