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Recent Trends in Retailing

Recent trends in retailing include: 1. Increased use of credit and debit cards, known as "plastic money", which now accounts for over 45% of retail spending in major cities. 2. Customers can travel farther distances to stores due to improved transportation infrastructure. 3. Specialty stores focusing on areas like electronics, music, fashion have become popular in shopping malls.

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LEA ROSE GIJAN
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0% found this document useful (0 votes)
74 views17 pages

Recent Trends in Retailing

Recent trends in retailing include: 1. Increased use of credit and debit cards, known as "plastic money", which now accounts for over 45% of retail spending in major cities. 2. Customers can travel farther distances to stores due to improved transportation infrastructure. 3. Specialty stores focusing on areas like electronics, music, fashion have become popular in shopping malls.

Uploaded by

LEA ROSE GIJAN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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RECENT TRENDS IN

RETAILING
1. USE OF PLASTIC MONEY
Use of credit and debit cards for buying merchandise is
relatively a new phenomenon but is gaining popularity immensely.
Credit and debit cards are commonly known as plastic money. Today
especially in metros, retail spending is mainly done by plastic cards,
accounting for over 45 percentage and is likely to touch 65 percentage
over the next five years.
2. DISTANCE – NO BAR
Due to increased public transportation, better roads, highways and
an overall improvement in the transportation infrastructure that has
enabled the customers to visit from one place to another smoothly than
ever before. Now for want of quality goods a customer can travel
several kilometers to reach a particular store.
3. SPECIALITY STORES
Stores like Reliance Digital, Music World, Metal junctions, Nokia
World, Pantaloons have their presence in most of the malls in the
country. Departmental stores have given way to malls, having a mixture
of large and small retailers offering varied brands for each and every
section of the society.
4. SOPHISTICATED CUSTOMERS
Due to Internet revolution, customers are becoming conversant
about the product they are interested in buying. For eg: over 30% of
Indian customers collect information from the internet about prices,
features, guarantee/warranty options before visiting any store for the
actual purchase. This is particularly true in case of automobiles, cell
phones, hotel bookings, travel packages etc.
5. INCREASES GOVERNMENT SUPPORT
The government infrastructure support, relaxation on foreign direct
investments further has accelerated the growth of Indian organized retail
sector. Consequently, the shopping malls are coming up throughout the
country in a big way.
6. FASTER SHIPPING

Customers will be excited to receive the product as early as


possible. Customers prefer to buy products from sites which render
faster shipping. Based on the urgency of receiving the product,
customers are willing to pay extra to receive the product faster. Online
retailers have started offering new shipping methods such as Same Day
Delivery, One-Day, and Two-Day delivery options to the customer.
7. ADDITIONAL PAYMENT OPTION
The evolution of Internet banking has made way for a huge number
of payment options. Retailers have to upgrade and enable customers to
make payments through any of the gateways available in the market; for
example, Phone pay Google Pay, MasterPass, etc.
8. OMNI CHANNEL

Customers expect a flawless shopping experience across all


channels; such as mobile, kiosk, apps and websites. Technology has
helped us in enabling this seamless experience for the customer. It’s
now easier than ever to integrate the data and extract it across any
channel at the convenience of the customer. It’s even giving the users
the same experience, irrespective of the channel.

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