Opinions expressed by Entrepreneur
contributors are their own.
You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
The retail industry in India has emerged as one of the most dynamic and fast-paced industries today. This can be attributed to the entry of several new players in the market. The industry contributes to over 10 per cent of the country’s GDP (Gross Domestic Product) and employs around 8 per cent of the population.
According to a recent IBEF report, India has replaced China as the most promising market for retail expansion, supported by the expanding economy, booming consumption and an urbanizing population. Indian retail trading has received FDI equity inflows totalling US$ 1.09 billion during April-September 2017, making India is the fifth largest preferred retail destination globally. The country is among the highest in the world in terms of per capita retail store availability.
With the boom in the retail sector, it is pertinent to ensure that the planning, design, equipment and services of retailers are up to mark to ensure best return on investment. If one is in the process of opening a retail or other customer-facing business, then what they are looking for are most definitely shop-fitters. Rightfully so, one of the allied industries that are going to largely benefit from the retail boom and International brand’s coming to India is the Shop Fit industry. Though it is considered at a nascent stage in India, it has huge potential thanks to the growing retail sector, and could possibly result in significant return for those in that line of business.
Retail shopfitting and its role
Retail shopfitters have actively played a crucial role in building a successful business in today’s concurrent market dynamics. Different products need to have a different approach and the factors like height, depth, size and width of products as well as the shelves or racks, needs due consideration. This is where the expertise of shopfitters come into the picture. So, what can they do for you to improve your business?
Customers are undeniably attracted by the design of retail stores. Products placed randomly on sheet metal shelves or wooden racks for that matter will most certainly have a negative effect on the sales and revenue of the store. However, it is a natural phenomenon that the customer’s eyes will get attracted to a beautifully and neatly organized product line. Shop-fitters are professionals who are dedicated to creating the most effective designs for the retail and office space. Not only do shop-fitters design store layouts, but they also deal in the design, production, and installation of all commercial shop fittings. These include your displays and showcases, wall fittings, counters, floors, doors, fixtures, and more.
Shop-fitting is an important investment for businesses and one that can immediately translate to improved business performance and profitability. It is an art that involves planning and building a space, be it a restaurant, retail store or office, that best reflects your brand and invites customers to come and explore your products and/or services. It ensures the creation of a warm and welcoming atmosphere that guarantees returns to your store by attracting customers and enabling positive experiences. Well designed and fitted stores often create lasting impressions, which can often lead to customers recommending stores to their friends and family, thus aiding in marketing and promotion.
In addition to quality retail design, good shop-fitting plays an important role in attracting and retaining customers. This future of retail store design is one where the designs are well thought of, resulting in multi-sensory ambience.
Shop-fitting, therefore, plays a key role in aiding companies to build a brand that is distinct from your competitors. It is therefore vital that companies looking to have a strong retail presence and commanding market share partner with the right Shop Fit manufacturers.
It enables a company to develop, prototype, manufacture for, roll out and maintain retail shopping spaces in a way that is forward thinking and sustainable in an industry that is sure to stay, and sure to grow as Indian economy benefits from its demographics and ongoing retail boom.