Sunday, November 13, 2011: 03:04:17 AM

Retailing Poll Feature

Festive shopping on a high

Festive shopping continues post Diwali as retailers gear up for the winter season

Freakin' Awesome! Freakin' Awesome! Freakin' Awesome! Freakin' Awesome! Freakin' Awesome!

The festive shopping season is in full throttle in India and though some experts feel that post Diwali the buzz is subdued, retail outlets across the country are looking forward to the jump in sales preceding Christmas and New Year celebrations. So, how prepared are we for the bonanza and can retail sales in this consumer driven market make a fortune for the average retailer? The answer might be a ‘yes’ but there are definitely certain drawbacks that retailers want to see the last of.

In a recent survey conducted by Retailing360, respondents had a rather mixed reaction to the questions. About 50% of the voters felt that the retailers are prepared for the festive shopping season while 25% disagreed. The rest refrained from opining on the matter.
Shopping bonanza
According to Prof A Ramaswamy Iyengar, faculty - Retail at Welingkar Institute of Management Development and Research, Mumbai, “I think each retailer is prepared in their own way. Smaller retailers have limited budgets and therefore spend in banners and other promotional stuff outside their stores. Larger retailers invest a lot more in promoting these festive season offers. This is a relatively new concept and therefore the investment in such promotions will go up with time.”
Shopaholic and Kolkata-based professional Madhusmita Dasgupta says, “I look forward to shopping from the malls during the sale season but prefer the smaller retailers when shopping off season. I think smaller retailers are yet to completely adapt to the festive season shopping bonanza culture that has hit India in recent years.”
Considering that a little more than 2 months of the festive season still remains (taking into consideration the clearance sale in January by some retailers), Indian retailers can opt for innovative business strategies to ensure high sales. After all, in a land of festivities, the festive shopping season can be a yearly affair.
Tias Chakraborty

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