Consumers shop from different channels based on the values that they derive from each of the formats. Stores formats are chosen based on availability, accessibility, ambience and affordability. It also depends on the cost of shopping tasks. It is found that consumers tend to choose new formats like online based on cognitive factors as compared to established formats like Kirana which are chosen with more affect.
Retailing as a business has its own dimensions. A retailer has to look at its business more minutely at a more disaggregate level. Every transaction counts, every SKU counts, every customer counts. It is also found that customers behave differently while shopping with respect to products, service and promotions at different retail formats even when buying the same brands. Attitudes and plans have been found to be influenced by retailers, making the choice in favour of their promoted brands as against the context brands of the consumers.
The retail sector in India is undergoing significant transition. With the entry of large scale retailing and online, as well as marked improvement in offering a ‘shopping’ experience to customers, marketers are beginning to look at the role of retailing as a brand with a potential to influence a value chain, rather than being an outcome of a value chain. However, in spite of this trend, the bulk of retailing activity in the country is (and will remain) in the semi-organised and unorganised sectors. In this context, managing retail as a business with several formats working symbiotically to deliver the desired results becomes imperative.
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