Ethnic Market

A new format has always been a challenge to any retailer to sustain Into the market. In the changing face of market, to regain preference of consumers towards nationalized brands, can be looked from a confronting angle. This created an anxiety in the mind of researchers and inspired them to undergo the research to understand the ethnicity concept. Ethnicity format is studied based on the flirts ethnicity store set up in the city of Metadata, Gujarat and glimpses are taken from the second and third store set up in Iambi and Pun respectively.

Research is secondary followed by primary in nature. This paper gives insights into the overall set up of ethnicity format that includes differentiating Criteria of ethnicity in comparison to regular retail formats based on observation at the store. Questionnaire based survey is also performed to get opinion on ethnicity store and paper gives Insights Into preferential category for purchase for future developments Consumers have given a very good response to the new concept. Along with shopping, experiences of consumers’ with the format have given a lasting Impact on their mind-set.

Further Raja market, Rain Market, Toad aura market are found attractive to consumers and have gained good preference of consumers followed by Soon-chance market Chat India and Gar angel market. The insights into concept development and suggested potential extended formats of ethnicity may readily work as a pillar to stand into the market for new retailers. Keywords: Ethnicity, Ethnocentrism, Organized Retail, Nationalized brands. Introduction Indian fashion Industry Is moving towards westernizes due to high level of acceptance of foreign brands by the consumers.

Due to this ,western brands are getting a wider platform than the ethnic brands across the country. As a result, national/ethnic products are even products may disappear from the market. To protect the Indian heritage, Future group took up the maiden initiative to provide a space to Indian products and brands under its own name and fame Future Group, Indian’s leading business house with strong presence in retail sector, launched a new retail format, family lifestyle store – Ethnicity, in Mandated to market ethnic brands and products of India in 2008.

This chain is a major family format developed after the launch of *Professor, G. H. Patella Post Graduate Institute of Business Management, Cards Patella University, Valhalla Evidential. **Assistant Professor, N. R. Linguists of Business Management (GLASS-MBA), Gujarat Technological University, Metadata. 2 highly successful family formats like Pantaloons, Big Bazaar, and Home Town. The new store format that has been billed as ‘Everything Indian, seeks to promote ethnic brands, ranging from ethnic and fusion wear, Jewelry, handicrafts, home decor, beauty products to accessories and gifts. Thus ethnicity showcases a large number of small Indian brands under one roof. Ethnicity besides promoting the culture of ethnic products, provide a modern platform o augment the presence of the retailers into the industry. Research Objectives To understand the concept of ethnicity as a new retail format To understand differentiating factors of ethnicity store in comparison to the modern retail stores. To understand the consumers’ preference towards the new format. Scope of the Study The study has explored the concept of ethnicity.

In includes understanding of the theme and concept differentiation criteria of format in comparison to existing formats. Further to understand acceptance of the new format, consumers’ preference towards the offerings has also been analyzed Data Collection Sources Secondary data sources have been used to understand the concept the ethnicity. Information has been taken from leaflet provided by ethnicity store of Metadata, and Company website to get insights into ethnicity store of Pun and Iambi. Articles kept on the websites are also used at the launch of ethnicity.

Primary data has been collected through questionnaire to know consumers preference towards the new format. Respondents were the consumers of Metadata who visited ethnicity store. Sample of 100 respondents was administered out of which 94 responses identified as valid sample for the study. Literature Review Ethnic origin has been defined as a group of people who share a common descent, a sense of collective identity and usually a shared cultural heritage and tradition (Scarsdale and Betties, 1973).

Ethnicity implies common customs, values, and attitudes within a group of people who are bound by a common cultural identification. Because values reflect a standard or criterion that people use in the guidance of behavior, they act as a norm for ethnic consumer behavior and an influence on many consumption motives. Ethnic Marketing Ethnic marketing is an important aspect of lifestyle racketing, a strategy that tailors a company’s products and services towards the customer’s lifestyles.

According to Technocrat Analysis, the current market of shares and ethnic wear stands at RSI 31,000 core and is projected to grow at 10 per cent to reach RSI 45,000 core in 2014. Views expressing rationale towards ethnic marketing Mr.. Raving Shanghai, chairman of management consulting and retail specialist firm Technocrat Advisors (201011) said, “Overall apparel category spends are rising, with special focus on ethnic wear brands, where many sensed the vacuum in the market, ease of entry, and attracted women – the most interesting target consumer, which places the Indian ethnic wear market at RSI. 6,800 Core, growing at 9% annually”. Giving Shrinkage, customer care associate and managing director, Shoppers Stop said “Branded ethnic wear is one of the top selling categories in our stores. For the past few years this segment has seen double digit growth,” Mr.. Gaur McMahon, CEO, Wisest, a Data group company said ethnic wear is an integral part of our customer promise. We widened the Wisest range and introduced Cuba, which offers silks and authentic handloom. This autumn will see the launch f two more brands,” Mr..

Rakes Banyan, Joint managing director, Future Group said ,”There is a significant rise in demand for women’s ethnic clothing. There is a big gap between the opportunity and what is being delivered today by organized players. This gap identification generated a lead to cover the untapped ethnic market and future group took up the initiative to establish ethnicity store as a revolution in the existing apparel format. Concept development of Ethnicity Store by Future Group Store Design Future Group has launched the first of a chain of stores aimed at retailing Indian wear in 2008 in Metadata itty.

It is the branded ‘Ethnicity’ store that keeps the a range of ethnic and fusion wear, Jewelry, handicrafts, home decor, beauty products and accessories and gifts. All the products are India inspired. The store is having a spread over an area of 25,000 to 30,000 sq. Ft. Store Objective The apparel labeled as traditional and indoor clothing a decade ago, has laid the foundation for today’s contemporary Indian ethnic chic. Ethnicity proudly follows the Indian values of being sensitive to Metadata city, environment and community. It 3 retailers and consumers.

It recreates the know-how of traditional ethnic market in a modern retail format and is an aggregate of the multi-faceted ethnic merchandise and traditional selling practices. It revives and rejuvenates anything and everything that is Indian. It aims to truly open out the urban ethnic market and redefine the scale of ethnic merchandising. Ethnic-Theme Positioning at the Store The concept Ethnicity is not limited to ethnic clothing but it is a destination to get the unique experience. The key differentiator for Ethnicity lies in its 360-degree shopping experience.

Ethnicity’s store design reflects a distinctly ethnic character – visual merchandising tools include artifacts, paintings and dcord pieces from Restaurants, Arioso and Gujarat. “Visual merchandising at ethnicity is like the synopsis of a story book”. Ethnicity has gone the “Des way (Highly traditional)” to become attractive and communicative. It is vital to not only be a differentiated retailer but also to draw out the true essence of the products. Branding in ethnic wear has been led by region of origin of the product like Banners’ shares, Lucking Kurt, Kitchen Bandanna.

The store is colorful designed and the flashiness gives it an ambiance of luxury and festivity. Atmosphere at Ethnicity Store Atmospheric at ethnicity store is a reflection of Indian heritage. Instead of halogen lights, everywhere light is reflected by lanterns. Instead of room freshener or perfumes, a raw fragrant of essential oil from flowers known as attar is used to mesmerism the entrant and bring them to the Indian culture. All the racks for display of merchandise are developed from wooden and outside decoration is of handicraft, which gives a reflection of Indian art.

Instead of having all the racks or shelves for display, few of the merchandise is displayed on cot. Store assistants are dressed in ethnic karts for freshness, Coconut water is served in a lorry (Cart) which gives a flavor of typical Indian culture, on the road serving. 4 Use of multi colors, art and fancy designs, air fragrance and traditional lightings give all time festival feeling experience. Market. Chosen name for the market is based on arterial language of India. With the theme of ethnocentrism, the collection represents only Indian brands in all the merchandise.

Merchandise at Ethnicity Store All the offerings are divided into a “Niche name” of Overall Analysis of Ethnicity Store Table 1 Store Sections Generic category name Ethnic name at ethnicity store Women’s wear category Rain market-everything ethnic for women Men’s wear category Raja market-everything ethnic for men Kid’s wear category Chat India market Jewelry/ accessories Soon -channel market- ethnic Jewelry Home accessories Gar -angel- ethnic ideas for your home Stationary/medical items Source: http://www. Entertaining. Com/organizing-ethnic-retail. Asp Data Analysis Regular formats of organized retail stores have their specific offerings. While ethnicity store has differentiated the same to give a new experience to the consumers. Based on observation at ethnicity store, he following comparison has been made to derive the differentiation criteria Table 2 Comparative Analysis: Organized Regular Retail Format V/s.

Ethnicity Format Parameter Organized Retail Organized ratatouille outlet Theme A move culture Objective To give exposure to western To give platform to Indian brands culture dynamics and appeal to ethnocentrism Size of the outlet Large size Comparatively small size Structure Vertical depreciation Horizontal depreciation Availability of brands Only Indian brands Atmospheric Exclusive halogen lights lantern [yellow lights towards Ethnicity Store Ethnicity store stern A move towards Indian legacy 5 Decoration No additional decoration Fully decorated with colors, lamps, handicraft ,puppets etc. Looks like all time festival Music Western songs Indian instrumental Fragrance Room fresheners Raw fragrant of essential oil from flowers known as attar Shelves Along with racks Traditional village themed cots with four legs Merchandise division Products are separate Gender wise product bundling Apparel gets displayed in one section, accessories other footwear another section and so on e. G. Raja market includes apparel ,accessories ,footwear addressing men.