Overseas Support System Providers to Strenghthen Indian Retail

As one of India’s fastest growing industries with a 5 per cent compounded annual growth rate, the retail success story derives hugely from rising incomes, increasing consumerism in urban areas and an upswing in rural consumption. Riding on this, foreign support firms and paraphernalia providers in the industry have enough reasons to believe that they have the wherewithal to play an important role in evolving the very-crucial support system needed to make the Indian retail saga complete. Retailing, then, is all set to acquire a new, sophisticated dimension.

On the anvil:

Overseas know-how providers see an incredible range of opportunity doing what they do best. Big time global retail design firms with a reputation for designing projects that are a class apart, complex and aesthetically pleasing as well as know-how providers are looking to lend their hand in retail. Professionals from the world of architecture, interiors, technology and retail strategy have new-age ideas that will allow consumers to savour trendy specialty retail experiences.

India now has the means to avail of the services of these firms without a glitch and go for it in a cost-effective manner. It will have the opportunity to manifest its good taste in over 500 million feet of space that the retail sector may be able to amass in the near future. However, while the formidable size of India and the striking pace at which consumers across segments are growing aspirational are strong positives, timeliness also matters to a great extent.

Breaking new ground:

The time is ripe as investors in India are welcoming newer ideas, especially those that stand out from the regular lot, international concepts. There is a new inclination for architectural marvels. Theme and amusement park concepts are other interest areas among Indian developers which they mean to take to interesting levels with their investment capabilities. Some mall builders will settle for no less than vertical designs.

Leading the way:

Those firms that realized India’s retail potential started looking nearly a-year-and-a half ago and are happy at the response. A German firm specializing in architecture and interior design for malls and multiplexes has its stores in Delhi and Ahmedabad and is exploring other places as well.

• Nisyst, a Bolton (UK)-based firm dealing in software solution for retail
  system development has followed suit and is operating a full-fledged office
  in Mumbai in the wake of the country’s buoyant growth graph.
• Amusement park know-how providers, Amusement Services International LLC
  from Dubai are seeing opportunity her and may line up an impressive clientele
  in India.
• Architecture and design firm Lewis and Hickey (L&H), a London based
  organisation, with vast experience in the UK, Europe and west Asian
  markets is just another big ticket provider contemplating taking its designs
  to India.
• Firms like Manchester-based Photolink Creative are thinking much ahead
  in the realm of e-retailing, envisioning replicating the Hyper-market
  e-retailing in the U.K. They may compile home shopping catalogs
  for some high-end Indian retail firms. They are upbeat on the possibilities
  of finding customers as they believe the logic of home shopping will
  be shared by Indian retailers.
• Not behind are the footfall imaging contour providers like Irisys,
  which develops and manufactures detection products for people counting
  and monitoring for application in retail. Its technical know how may
  be just what malls in India may need.

India is charging ahead, as the ninth largest retail market in the world. The recent developments may well power it up to better rankings soon.

Photo: Shopping Mall Atrium by Abbasidaniyal, licensed under CC0, via Wikimedia Commons.