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Retailing in Indore

March 2019

Despite the growth of organised retailing, the unorganised traditional market continues to dominate the retailing landscape. Consumers in Indore still prefer to go to known independent stores for shopping due to the availability of unique and traditional clothes, jewellery and handicraft items at lower price. However, as the population of millennials and young tech-savvy consumers grows further in the city, the modern and online channel is expected to gain popularity in the coming years.

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Key findings

Street shopping defines Indore’s culture

The city’s love of shopping is well reflected in its famous street shopping destinations such as MT Cloth Market, Kothari Market, Chappan Bazaar, Sarafa Bazaar, Marothia Bazaar, Sitlamata Bazaar etc. High numbers of both high-end contemporary and traditional retail outlets and designer wear shops in these markets attract customers shopping for various ethnic or modern wear, jewellery, footwear, etc.

Consumers continue to prefer traditional retail channels

People in Indore are very familiar with local traditional outlets. People believe in bargaining as they feel they can get the product at a reasonable and affordable price. This attitude of consumers has led to the popularity of street shops and bazaars. Good relations with nearby kirana stores over the years have also given rise to trust, thus favouring traditional retail shops.

Home-grown retailers - evolving with changing customer preferences

Home-grown retailers have expanded their product offerings and value-added services to meet the changing preferences of locals and target a wider consumer base. Apparel specialist retailers such as Pakiza have transitioned to Western wear and jewellery from traditional ethnic wear. Conversely, grocery specialist retailers such as Ondoor and New Pick ‘N’ Move supermarket have expanded their product portfolios to include electronics, utensils and stationery. In addition, these retailers have adopted an omnichannel strategy to stay in the game.

Emergence of modern retailing practices

Modern retailing practices in the city have been gaining momentum with the increasing working population in the city. Due to growing disposable income, these consumers have shifted towards mall shopping as it provides them with a plethora of brands under one roof. Internet retailing is slowly picking up in the city with consumers seeking convenient methods to shop, especially millennials.

 

 

Introduction
City profile : overview
Consumer profile : y oung , social, and modern thinking
A typical shopping experience in Indore
Key findings
Street markets remain a preferred shopping destination
Traditional retailers continue to have strong foothold
Home-grown retailers maintain strong legacy in the city
Limited presence of modern retail outlets
Modern retail outlets are mainly popular among millennials
International retail brands have limited presence in the city
Online shopping gaining a strong hold in the city
Pakiza Retail Pvt Ltd
Ondoor Concepts Pvt Ltd
New Pick ‘N’ Move
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