Changing Trends in Interior Product Retail – Ankur Bisen
The good thing is that the building material retailsm are rapidly getting branded. In Dehi-NCR market, 99 percent paints are in branded category. Tiles are 50 percent branded. Plywood is 33 percent branded. Laminate is 77 percent. MDF and particle boards are 95 percent branded. It means that registered trustworthy trademarks and are being sold in retail sales. While, apparel market is only 30 percent branded. Footwear is also only 35 percent branded. At the supply chain end, we have brand and ready to go product at retails in building materials. Brand is important because home and living categories are very important to the consumers. Now household structures, income patterns are changing rapidly and the concept of brand is increasing accordingly. Home and living categories are getting more branded than others. But on the other hand 95 building material retails are traditional retails. But now the pressure of branding is coming on retails.
If we see the demand side, there are list of interior designers, architects, contractors, individual home buyers etc. They are now seeking the all materials under one roof because, architectures have to visit at last 8-10 retail points to complete his/her project. If he gets all materials under a roof it will be beneficial for retailers and buyers and it will save lot of time and money. Same is the case with interior designers, contractors, individual home buyers. As there is long range of products and it’s a broken retailing environment so now we have to adopt all under one roof concept for entire range of products.
There should be price transparency also Visualization is another important factor which is becoming a major differentiates in our range of products. It means it should be visualized that how will this product look at my house or other place. Interior designers and Architects asked mostly that how can they visualize that color, product or, structural or element. Current retailing shops in India are unable to fulfill both these aspiration. This is another pressure point to build up and creating the right conditions to become the organized retails.
Display centers in India are now becoming very important in growth story of brands. As there are genuine retailing gapes in the market so display centers are growing. It’s creating a superior retailing environment. Today the customers are becoming well aware. There are lot of research, innovations and creations are happening in building material market in India.
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