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.
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.
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 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.
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.
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