India, a land of stark differences is nothing short of a nightmare to any marketing professional, but the credit must go to numerous professionals who have gone into deep dark corners of Indian psyche to find out the commonalities and strike a balance.
But to what extent has this worked in the nascent retail industry is the question.
A review/ report
Far away from the financial and technological hotspots dotted with BPOs and IT companies are the places like Nagpur, Ludhiana, Hubli Jabalpur which we commanly refer to as tier-II cities.
These cities and numerous towns have their own set of population who are predominantly self employed. Their aspirations and demands are totally different from the salaried middle class in the cities.Then sense of identity, behavior and fashion sensibilities make them different from their salaried counterparts in the large metros.
They do not carry any fancy credit cards but on the other hand proudly wear a gold chain which is visible, sport an equally fancy watch and would wear anything which would make them stand out of the crowd than blend in.
This self employed person is far more value conscious as he himself is a businessman. Any offer or a discount would make him think about the actual value of the product. He would go to the local market in order to get the best 'deal'.To him shopping is more about 'winning' the best deal than buying things. This particular behavior is mostly confined to 'needs'.
The very same person when it comes to 'wants' would pride himself to get the best product from the best place even if that means shelling out a few extra bucks. The ticket size of such customers will also be much higher compared to his metro counterparts.
Now after knowing his lifestyle and preferences a question remains with all the retailers. What should be the strategies to be adopted in order to tap this large chunk of population which could be hugely profitable!
A review/ report
Far away from the financial and technological hotspots dotted with BPOs and IT companies are the places like Nagpur, Ludhiana, Hubli Jabalpur which we commanly refer to as tier-II cities.
These cities and numerous towns have their own set of population who are predominantly self employed. Their aspirations and demands are totally different from the salaried middle class in the cities.Then sense of identity, behavior and fashion sensibilities make them different from their salaried counterparts in the large metros.
They do not carry any fancy credit cards but on the other hand proudly wear a gold chain which is visible, sport an equally fancy watch and would wear anything which would make them stand out of the crowd than blend in.
This self employed person is far more value conscious as he himself is a businessman. Any offer or a discount would make him think about the actual value of the product. He would go to the local market in order to get the best 'deal'.To him shopping is more about 'winning' the best deal than buying things. This particular behavior is mostly confined to 'needs'.
The very same person when it comes to 'wants' would pride himself to get the best product from the best place even if that means shelling out a few extra bucks. The ticket size of such customers will also be much higher compared to his metro counterparts.
Now after knowing his lifestyle and preferences a question remains with all the retailers. What should be the strategies to be adopted in order to tap this large chunk of population which could be hugely profitable!
- Prabhav
GLCRMM10-12
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