Home / Knowledge / News / "Retail slowdown is more sentimental than real" – Experts
"Retail slowdown is more sentimental than real" – Experts
10
Nov '08
Retail industry feels that the present slowdown is more sentimental than real and utmost caution is required to deftly handle the current phase, according to major retailers in the country.

They have voiced this view in the Panel Discussion on “Retailing Challenges in Times of Economic Slowdown” organized by Birla Institute of Management Technology (BIMTECH) today in New Delhi.

Taking part in the discussion, Mr Shailesh Chaturvedi, CEO, Tommy Hilfinger Apparel India, said that though the slowdown was experienced in the metros, the tier two cities have recorded robust growth in consumer spending. Referring to the sales of his own brand, he said that for the month of October 2008, the growth was almost 100 percent though he expects some slowdown in the next few months. He mentioned about the brisk sales for his premium apparel products in Amristar, Patiala and Jaipur.

People are deferring the purchases on account of the market speculations and rumors in metros. He said that Indian consumers have matured over years and a cowboy attitude in aggressive marketing by offering discounts and other doles would not work out favorably in these difficult times. He also said it was the right time for the retail outlets since the rentals might have come down and also to study the consumer behavior in depth.

Mr. Gautam Dutta, CEO, PVR Cinemas, said that innovative products have to be designed to retain the consumer interest in the product to balance out the negative perceptions conceived rightly or wrongly by the consumers. Referring to his own retail segment and performance of the company, he observed that though the Q2 may have been a bit lackluster, the Q3 was rocking. He also added that in difficult times one requires clear cut communication strategies to reach out to the consumers.

Presenting the state of the real estate sector in India, Mr Pradeep Jain, Chairman, Parasvnath Developers Ltd, observed that the scare of slowdown was germinated mostly in the minds of the media and through some ill-informed stories both in the print and electronic media, people have come to believe that a catastrophe was going to take place in the country. Time has proved that no such adverse development did take place.

He exuded the optimism that the retail sector would bounce back sooner proving the skeptics wrong. He also mentioned that the size of the organized retail was very small in India and most of the malls are very small compared to the average mall size of more than one million sq mts in the US and Europe. He wanted the Government to be more proactive in evolving programs for overcoming the current crisis.

He said that there is an acute shortage of quality land in the country, particularly in the metros, which have pushed up the rentals. He wanted the organized retail sector to get organized more. The disbursement of loans and advances by banks and financial institutions should be streamlined. Despite the directives from the Government, the fund flows are not adequate.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search