Innovation in Indian Local Markets -By Arti, Ashwini, Melonnie, Richa, Sushmita and Swati For centuries, bazaars of India have been the signature of Indian life and culture. Crowded, noisy, cheap and buzzing with activity, the local retail markets of India continue to be the backbone of the lower and middle class population. With the advent of big players in retail sector, the local markets in India have undergone a radical change. In order to survive the competition and yet maintain the low pricing attraction, retailers have to come up with innovative ideas.
As we walked around we began noticing these little aspects of innovation, in the way the shopkeepers stacked up their stock, in the way they displayed their goods or simply in the way they maintained a mobile(moving) store.
In this article, we visited one such market Shivajinagar bursting with innovation at every shop there. From marketing to display to plain publicity, innovation is everywhere to be found.
The retail business boom in Bangalore over the last few years, lead us to believe that the small timers/local markets would not stand a chance against the mighty malls.However our visit to Shivajingar proved us wrong. From the tiniest of pan shops, to cosmetics and truck tyres, you could find just about anything in this place.The word "visual merchandizing" takes a very different meaning in Shivajinagr. There were no fancy lighting setups, no fancy interiors and some of them don't even have a sheltered place to sell their goods.This made us wonder as to what makes this place tick? How do these retailers manage to attract these large crowds without quite having any kind of brand image or visual appeal?
For Example we saw a small flower shop outside a temple. He was using truck/bus tyres stacked over as a stand, covered by a discarded flex sheet of some banner. He just needs to get that sheet and flowers. These local markets play an important role in every lower middle class family. Right from the groceries of the house to the furniture of the house comes from this market. The smaller shops of these markets like a hardware shop, grocery shop, flower shop, stationary shop and so on still have to cope up with the limited funds and yet fulfill their needs of displaying their stuff innovatively. Lets see some more innovative examples from these innovative people.