More retailers pursuing markets at the BOP
Wednesday, December 28, 2005
HYDERABAD/MUMBAI: Call it a mall revolution for the masses. If an idea currently being toyed by retail giants fructifies, India?s huge middle- and lower-class population will have something to cheer.
And why not? If retail stores start selling TV sets at Rs 40 per week or, for that matter, kitchen mixers at Rs 10 a week, the hoi polloi are going to be the ultimate beneficiary.
For large retailers, catering to the tastes of 45- 60% of a 1.2-billion consumer market makes sound business sense. Leading players in organised retail are currently brainstorming over this retail model for the middle- and lower-class.
The proposed model will cater to drivers, maid servants, hamalis, rickshawalas and slum-dwellers in the mini-metros, besides those in Tier-2 and Tier-3 markets.