As a preview to his presentation during the upcoming IBC Global Forum, the following is a brief on Indian retail, Vikram Chitnis and Shoppers Stop, a retailer with an extensive focus on home and housewares.
Retail in India continues to expand and develop from traditional “son & pop” shops to organized brick and mortar retail. Organized retail is expected reach $150 bn and online retail targeted to reach $45 bn by 2020. These number represent more than triple the growth and 12 times growth respectively in the 6-year span between 2014 and 2020.
Shoppers Stop has 81 stores in 33 cities throughout India as well as an online presence. The 2016 turnover of these outlets was approximately US$615 million, with anticipated future expansion as retail grows and matures in India.
To answer the consumers’ demand for lifestyle products in a department store concept, Shoppers Stop caters to the mid to premium level consumer. Home and housewares product assortments are featured at Shoppers Stops’ lifestyle shop-in-shop concept, HomeStop, found within sixteen Shoppers Stop locations.
Vikram Chitnis, Customer Care Associate & Business Head of the Home Division, will share his insights on the home and housewares market in India and best practices for supplying to Shoppers Stop. Vikram has been with Shoppers Stop since 2002, prior to which he worked within the home textile industry and has vast experience in management of sourcing, sales, marketing and production. Vikram has been instrumental in the inception and management of the HomeStop concept.
During the IBC Global Forum taking place in Miami from September 17-19, Vikram will give insight into the nuances of selling into the Indian home and housewares market.