Indian corporations surely
seem to be in the know of phenomenal gumption and confidence to fight foreign brands on home-turf. Retail is surely in! On the food front, while McDonald’s has already invested Rs.800 crores, it plans to invest an additional Rs.300 crores in the next three years and open at least 100 more outlets! While no MNC has been able to stand up to the might of Amul, the company is taking no chances and it too has expansion plans up its sleeve and plans to increase its ice-cream outlets from 60,000 to 80,000 this year. Not to be left behind, Shopper’s Stop has been keeping an eye on the changing food habits of youngsters and is planning to set up food carts, which would give tough competition to the likes of McDonald’s, Pizza Hut & Barista etc. With almost everyone planning huge expansion plans, what exactly are the various factors that are key to operating a successful retail chain? Especially given the fact that retail is a “people oriented” business, and the way one interacts with customers is of paramount importance – the customer of today is very aware, very discerning; he is more demanding and winning his loyalty is tough – so how do you keep them flocking in?
For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006
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seem to be in the know of phenomenal gumption and confidence to fight foreign brands on home-turf. Retail is surely in! On the food front, while McDonald’s has already invested Rs.800 crores, it plans to invest an additional Rs.300 crores in the next three years and open at least 100 more outlets! While no MNC has been able to stand up to the might of Amul, the company is taking no chances and it too has expansion plans up its sleeve and plans to increase its ice-cream outlets from 60,000 to 80,000 this year. Not to be left behind, Shopper’s Stop has been keeping an eye on the changing food habits of youngsters and is planning to set up food carts, which would give tough competition to the likes of McDonald’s, Pizza Hut & Barista etc. With almost everyone planning huge expansion plans, what exactly are the various factors that are key to operating a successful retail chain? Especially given the fact that retail is a “people oriented” business, and the way one interacts with customers is of paramount importance – the customer of today is very aware, very discerning; he is more demanding and winning his loyalty is tough – so how do you keep them flocking in?For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006
IIPM's Other Websites:-
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