Ethnic Market Essay

With mounting westward influence and focus on revival of notice hold ofed-down Indian fashion ele handsts, diversity in India sees many faces. To maintain the dignity of the agriculture and to provide a broadcast to elegant Indian brands, future(a) conclave initiated ethnocentrism concept by opening ethnicity broth in Ahmedabad, Gujarat. This initiative has provided invigorated put insights to organized retailers to expand their horizons in super volatile Indian consumer oriented commercialise. A new format has always been a ch eachenge to any retailer to sustain into the grocery.In the changing face of merchandise, to regain gustation of consumers towards nationalized brands, can be looked from a confronting angle. This created an anxiety in the mental capacity of researchers and inspired them to to a lower placego the research to understand the ethnicity concept. heathenity format is studied petty(a)d on the first ethnicity terminus deposit up in the city o f Ahmedabad, Gujarat and glimpses be taken from the second and third store define up in Mumbai and Pune respectively. Research is secondary followed by primary in temper.This paper gives insights into the over any set up of ethnicity format that includes differentiating Criterias of ethnicity in comparison to regular retail formats based on card at the store. Questionnaire based survey is withal performed to make up opinion on ethnicity store and paper gives insights into invidious category for purchase for future developments Consumers harbour 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 rajah grocery, Rani securities industry, Thoda aur market atomic number 18 found spellbinding to consumers and have gained good preference of consumers followed by Sona-chandi market Chota India and Ghar aangan market. The insights into concept development and suggested potential extended formats of ethnicity may readily work as a tugboat to stand into the market for new retailers. Keywords ethnicality, Ethnocentrism, Organized Retail, Nationalized brands. Introduction Indian fashion industry is moving towards westernization referable to high level of acceptance of foreign brands by the consumers.Due to this ,western brands are get goingting a wider plan than the ethnic brands across the country. As a result, national/ethnic fruits are even overlooked by consumers and clipping may come that such products may disappear from the market. To nurture the Indian inheritance, Future group took up the first initiative to provide a space to Indian products and brands under its own designation and fame Future convention, Indias leading business ho workout with strong presence in retail sector, launched a new retail format, family lifestyle store Ethnicity, in Ahmadabad 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.Patel Post Graduate Institute of Business Management, Sardar Patel University, Vallabh Vidyanagar. ** garter Professor, N. R. Institute of Business Management (GLS-MBA), Gujarat Technological University, Ahmedabad. Pacific Business canvas International 2 highly successful family formats manage Pantaloons, Big Bazaar, and Home Town. The new store format that has been billed as Everything Indian, seeks to elicit ethnic brands, ranging from ethnic and fusion tangle with, Jewellery, handi swops, 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 political program to 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 accompanimentors of ethnicity store in comparison to the modern retail stores. To understand the consumers preference towards the new format. oscilloscope of the Study The study has explored the concept of ethnicity. In includes understanding of the theme and concept development, merchandise development and none criteria of format in comparison to lively formats.Further to understand acceptance of the new format, consumers preference towards the offerings has also been analyzed Data Collection tooth roots Secondary information sources have been used to understand the concept the ethnicity. learning has been taken from leaflet provided by ethnicity store of Ahmedabad, and Company website to get insights into ethnicity store of Pune and Mumbai. Articles kept on the websites are also used at the launch of ethnicity. immemorial data has been collected through questionnaire to hold up consumers preference towards the new format. Respondents were the consumers of Ahmedabad who visited ethnicity store.Sample of 100 respondents was administered out of which 94 responses identified as valid sample for the study. literary works examine Ethnic origin has been defined as a group of people who share a communal descent, a sense of collective identity element and usually a shared cultural heritage and tradition (Crysdale and Bettie, 1973). Ethnicity implies common customs, set, 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 marketing, a system that tailors a gilds products and services towards the customers lifestyles. According to Technopak summary, the current market of sarees and ethnic fag down stands at Rs 31,000 crore and is projected to grow at 10 per cent to reach Rs 45,000 crore in 2014. Views expressing rationale towards ethnic marketing Mr. Arvind Singhal, chairman of management consulting and retail specialist firm Technopak Advisors (201011) said, Overall outfit category spends are rising, with special focus on ethnic wear brands, where many new brands have emerged as market heroes.They 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 Rs. 56,800 Crore, growing at 9% annually. Govind Shrikhande, customer commission associate and managing director, Shoppers Stop said Branded ethnic Volume 5 switch off 5 (November 2012) wear is one of the top selling categories in our stores. For the past few years this segment has seen double material body growth, Mr. Gaurav Mahajan, CEO, Westside, a Tata group company said ,Indian ethnic wear is an integral part of our customer promise.We widened the Westside range and introduced Zuba, which offers silks and authentic handlooms. This autumn will see the launch of two more brands, Mr. Rakesh Biyani, interchangeable managing director, Future Group said , in that respect is a significant rise in demand for womens 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 alive apparel format. Concept development of Ethnicity submit by Future Group.Store Design Future Group has launched the first of a chain of stores aimed at retailing Indian wear in 2008 in Ahmedabad city. It is the brand Ethnicity store that keeps the a range of ethnic and fusion wear, jewelry, handicrafts, home decor, beauty products and accessories and gifts. every last(predicate) 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 a pparel labeled as handed-down and indoor clothing a decade ago, has laid the foundation for todays contemporary Indian ethnic chic.Ethnicity proudly follows the Indian values of being sensitive to Ahmedabad city, environment and community. It provides a platform to take together handed-down or ethnic 3 retailers and consumers. It recreates the know-how of a handed-down ethnic market in a modern retail format and is an aggregator of the multi-faceted ethnic merchandise and traditionalistic selling practices. It revives and rejuvenates anything and everything that is Indian. It aims to actually 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. Ethnicitys store design reflects a clear ethnic character visual merchandising t ools include artifacts, pics and decor pieces from Rajasthan, Orissa and Gujarat. Visual merchandising at ethnicity is like the synopsis of a story book. Ethnicity has gone the Desi way (Highly traditional) to become attractive and communicative. It is vital to not only be a tell apart retailer but also to draw out the dependable essence of the products.Branding in ethnic wear has been led by region of origin of the product like Benaresi sarees, Lucknowi kurta, Kutchchi Bandhani. The store is colorfully designed and the flashiness gives it an ambience of luxury and festivity. Atmosphere at Ethincity Store atmospheric at ethnicity store is a reflection of Indian heritage. electionly of halogen lights, everywhere light is reflected by lanterns. Instead of room freshener or perfumes, a raw fragrant of meaty oil from flowers known as athar is used to mesmerizes the entrant and bring them to the Indian culture. All the racks for display of merchandise are developed from woody 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 dis vie on cot. Store assistants are dressed in ethnic kurtas for refreshments, Coconut water is served in a lorry (Cart) which gives a flavor of typical Indian culture, on the road serving. Pacific Business go over International 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 lecture 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 Womens wear category Rani market-everything ethnic for women Mens wear category Raja market-everything ethni c for men Kids wear category Chota India market Jewellery/ accessories Sona chandi market- ethnic Jewellery Home accessories Ghar aangan- ethnic ideas for your home Stationary/medical items Thoda aur- ethnic accessories and more Source http//www. indiaretailing. com/organising-ethnic-retail. asp Data Analysis fixing 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, the following comparison has been make to number the differentiation criteria Table 2 Comparative Analysis Organized Regular Retail Format V/s. Ethnicity Format Parameter Organized Retail Organized retailOutlet outlet Theme A move culture Objective To give exposure to western To give platform to Indian brands culture dynamics and stir to ethnocentrism Size of the outlet Large size Comparatively small size Structure Vertical departmentation plain departmentation.Availabili ty of brands Global brands Only Indian brands Atmospheric Exclusive halogen lights lantern /yellow lights towards Ethnicity Store Ethnicity store western A move towards Indian legacy Volume 5 Issue 5 (November 2012) 5 laurel 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 Racks Along with racks Traditional village themed cots with four legs Merchandise category Products are separate Gender wise product bundling.Apparel gets displayed in one section, accessories other section, footgear another section and so on e. g. Raja market includes apparel ,accessories , footwear addressing men. Rani market includes apparel, accessories, footwear for women Merchandise name English names Traditional Indian names Store assistants dressing Western formal wear Traditional Indian kurta Packaging Plast ic printed bags Paper bags with traditional look Merchandise Western outfits western designs and indo- Indian traditional embroidery work outfits with Shoes Mojaris and chappals Indo-western painting Handicraft Cosmetic products.Natural ayurvedic products and aromatherapy Perfumes Incense stick, fragrances Light chandelier Candles and Lantern Artificial jewelry Stone work, Kundan jewellery Refreshments Food court with multi cuisine Small push cart/lorry with coconut water deliverable Shopping Experience attar, natural Source Primary data collection through observation Analysis of Consumers Preference Towards Ethnicity Store Consumers survey has been performed to get insights into their experience towards the format with the help of questionnaire.Respondents were the consumers who visited the ethnicity store. Pacific Business Review International 6 Figure 1 Consumers Preference towards the Market based Merchandise at Ethnicity Store with Mean Rank ( where 1 is least and 5 is maximum ) 0 1 2 3 4 5 4. 25 Raja Market 4. 02 Rani Market 2. 80 Chota India 3. 20 Sona Chandi Ghar Aangan 2. 05 4. 15 Thoda aur Source Primary data collection through questionnaire Consumers preference towards the ethnic theme based markets is analyzed to know the preferred market.This analysis is aimed at create the market to increase the preference Consumers are highly contented with Raja Market offerings followed by Rani market and thoda aur market. New introductions in thoda aur market like lamps, compact disk and fragrances, ayurvedic products etc have grab cognise attention of people which gives a lead to introduce more unique and Indian traditional items. Sona chandi market has got a good response. Thus it can be interpreted that fashion accessories in ethnic look are keeping tune with the ethnic garments. As per consumers opinion, Chota India is yet to gain preference may be because of traditional designs that are not preferred more for kids in comparison to western attracti ve outfits with cartoon charactersAgain as per consumers opinion, Ghar aangan is also yet to gain preference may be because of bed sheets, utensils, toys , purchase for rituals like puja ka saaman etc. have pre-existence of established unorganized market. Volume 5 Issue 5 (November 2012) 7 Consumers Preference towards Ethnic Products for Three Most Preferred Markets Figure 2 Preference has been examine towards Offerings for Females as Rani Market Source Primary data collection through questionnaire Fusion wear and Mix & Match are able to attract consumers as it is a new and unique base of ethnic products. As Saari, salwaar kamiz have become a common purchase and many platforms are accessible to address the demand, preference is found at the moderate level.Figure 3 Preference has been Analyzed towards Offerings for Males as Raja Market Source Primary data collection through questionnaire In mens wear traditional wear in the form of Jodhpuri, Chudidar and kurtas along with tradition al mojaris have attracted consumers to larger extent Pacific Business Review International 8 Figure 4 Preference has been Analyzed towards Offerings for Thoda Aur Market Source Primary data collection through questionnaire Full range of Fragrances and Candles & Incense has been introduced by ethnicity store. It has got tautologic ordinary preference of consumers.Thus it has contributed towards maintenance of Indian legacy Consumers preference towards Aromatherapy Aromatherapy is the use of aromatic nominate oils, including essential oils, for psychological and physical wellbeing. Aroma therapists blend therapeutic essential oils especially for each somebody and suggest methods of use such as topical application, massage, inhalation or water immersion to dumbfound the desired responses. Aroma therapy oils may include Peppermint Digestive disorders Rosemary Muscular pains, mental stimulant Sandalwood Depression, anxiety and nervous tension Sweet orange Depression and anx iety. Tea tree Respiratory problems, antifungal, antibacterial and antiviral Lavender Headaches, insomnia, burns, aches and pain Ethnicity store has provided the platform for Aromatherapy. Full range of essential oils has been displayed to generate the sentience and preference towards the same. It is aimed at generating awareness towards ayurvedic medicine in the arena of allopath for better and secure treatment. Ethnicity has taken maiden initiative to mould the consumers psychology towards naturopath. (Graph on next page) It can be interpreted from figure-5 that first hand response has been satisfactory with 49% for.Aromatherapy and thus it enjoys the potential to increase the preference in future. The atmospheric of traditional products is supporting the purchase of traditional way of health supplements. The advice and explanation given along with the product has played important role in making realization to go for natural products Volume 5 Issue 5 (November 2012) 9 Figure 5 Preference has been Analyzed for Aroma Therapy Source Primary data collection through questionnaire Figure 6 Analysis of Consumers Satisfaction towards Ethnicity Store Consumers level of satisfaction towards the differentiated offerings has been analyzed.Such analysis is aimed at identifying the most appealing differentiation for future stance of the store and developing the strategies that may lead to future satisfaction Competitive Assessment Matrix with Mean Rank ( Where 1 is least and 5 is maximum) Regular Organized Retail Formats and Ethnicity Store Consumers satisfaction on competitive opinion matrix 0 1 2 3 4 5 4. 05 4. 95 Theme 2. 30 2. 60 Price 3. 25 4. 00 Variety 3. 94 4. 35 Display 4. 00 Experience Source Primary data collection through questionnaire Keys Regular organized retail outlets Ethnicity store 5. 00 Pacific Business Review International 10 .Competitive assessment matrix depicts that ethnicity theme is highly appealing to the people. The differentiation draw of giving experience to the consumers than only to provide a platform for shopping is acquire correct positioning in the mind set of consumers as it is applauded by consumers with the mean rank of 4. 95. Unique display of ethnicity is highly appreciated by consumers in comparison to regular organized retail formats. On the dimension of pastiche ethnicity is lagging behind in comparison, the contributing reason may be limited number of Indian brands into each category. As far as pricing is concerned none of the outlets satisfied the consumers expectation.It brings out the fact that price structure is too high. Here opportunity lies with ethnicity store to discriminate pricing strategy to get competitive edge over other formats. It might be feasible to reformulate the pricing strategy due to nationalized brands. Suggestions Major Findings Ethnicity is indeed a revolutionary move towards consumers ethnocentrism. National players have also coupled hands with the big reta iler and accepted the opportunity to address the mass market. Thus it has contributed to a greater extent in providing a wider platform to small retailer of India.Further is has contributed towards generating awareness of ethnic products and brands of complete India which were not noticed by the consumers and importance was not realized by consumers. It is an absolutely unique ride into organized retail formats. Everything starting from atmospherics to collection of brands, merchandise display and packaging is uniquely positioned with the nationalized theme. It provides a feel-good factor and thrilling experience to the consumers. Consumers are getting attracted by the theme and getting exposed and penetrated by ethnic products. Today consumers look for fashionable clothes.National brands which were not recognized earlier, have provided a platform of fashion to explore Consumers are highly satisfied with Raja Market offerings followed by Rani market and thoda aur market. Fusion we ar, Mix & Match, Jodhpuri,Kurtas, Chudidars, Mojaris and fragrances ,candles and incense are able to get preference of people. Aroma therapy is able to get good welcome form the consumers. Ethnic designs are getting acceptance in the form of novelty. In all this modern concept well applauded by consumers as they are getting exposed to all the variety and designs of products of all the corners of India under one roof. More Indian retailers should be motivated to provide Brobdingnagian collection of ethnic products in the categories of mens wear and womens wear to provide more varieties. There is a need to increase the range of aroma therapy offerings to increase the awareness and consumption. Fragrances, candles and incense offerings have brought Indian values back in the preferences. This has showcased a very good business potential as a whole. There is a need to provide more and more offerings into the segment with more and more varieties.Potential revolutions into existing for mat of ethnicity for India. Format can be expand by introducing specialties of major states/cities of India Rajasthan market Art & craft Jamnagar market-Bandhani Volume 5 Issue 5 (November 2012) Bangalore -Silk garments Chennai- Pearl jewellery Kerala market-Spices Format can be expanded by introducing specialty aliment of major states/cities of India it may help to give a back berth to the consumer trend which is moving towards western food Gujarati food Punjabi food South Indian food Rajasthani food North Indian food Kathiyawadi food Potential revolutions into existing format of ethnicity for other countries.It has been witnessed that countries are getting specialized into technological innovations but spread of such innovations into the same continent reflects questionable behavior of consumers. many a(prenominal) a times it is because of lack of awareness. Such type of format may provide a common platform to explore the small innovative products at consumer end E. g. European countries. Fashion based Ethnicity- As fashion industry is one of the major growing industries in Europe, all fashion statements can be displayed under one platform Fashion statement of Italy Fashion statement of France Fashion statement of get together kingdom Technology based ethnicity- Technical Research.& innovation driven countries, all innovations can be displayed under one platform Big to small innovative products of Finland Big to small innovative products of Germany IT & Renewable technology based products from Sweden Electric technology innovations of Netherland E. g. Asian Countries 11 Technology based ethnicity. Robotic technology based innovative small to big products from South Korea & Japan References Crysdale and Bettie, 1973, Retrieved from, http// www. manifolddatamining. com /html /products/ ethnicmarketing. htm on 15/02/2012 Anuradha Shukla, Ethnic wear market booms in India retrieved from http//wonderwoman. intoday. in/ story/ethnic-wear- market-booms-in-india/1/ 88440. html http//indiatoday. intoday. in/story/ethnic-wear-marketto-grow/1/124981.html retrieved on 06/02/2012 koregaonparkplaza, pune (2011) retrieved from http// w w w. k o r e g a o n p a r k p l a z a . c o m / s t o r s details. asp? id=77&catid=1&st=1 retrieved on 06/ 02/2012 Runul Vashistha, (2009) retrieved from http// www. indiar et a iling. com/ R et ailC oncep t _ details. aspx? Id=58 retrieved on 02/02/2012 Pooja nair, (2009). retrieved from http//ahmedabad. metromela. com/Lamps+and+ethnic+ wear+at+.Ethnicity/article/3183 retrieved on 15/02/2012 Shailesh Shah, (2012). Ethnicity Towards organising ethnic retail, retrieved from http // www. indiaretailing. com/organising-ethnicretail. asp retrieved on 02/02/2012 http//www. pantaloonretail. in/pdf/ethnicity_karigari. pdf Reference Book junior Churchill Gilbert A. , Lacobucci Dawn, Israel D. , (2009),Marketing Research- A South Asian Perspective, India Edition, Delhi Cencage Learning. Additional ma terial Leaflet circulated at ethnicity store 12 Glossary Attar A fragrant of essential oil typically made from rose petals Ayurvedic It is a Hindu system of traditional medicine native to India and a form of alternative medicine.Ayurveda can be defined as a system, which uses the inherent principles of nature, to help maintain health in a person by keeping the individuals body, mind and spirit in consummate equilibrium with nature Bandhani A process of patterning cloth by tie-dyeing in which the design is reserved on the undyed cloth by tying small spots very tightly with thread to protect them from the dye especially popular in Rajasthan and India Chappal An item of Indian footwear, similar to a flipflop with a toe strap Chota (India market) Younger, junior child connect products.Pacific Business Review International Kundan Jewellery Kundan is a traditional Indian gemstone jewelry, a method of gem setting in a jewellery piece, consisting of inserting gold foil between the stones and its mount, usually used to create elaborate necklaces believed to have originate in royal courts of Rajasthan and Gujarat. It is the oldest form of jewellery made and half-hearted in India Kurta A knee-length, collarless shirt wearied over pajamas by men in India Mojaris A style of South Asian handcrafted footwear for the most part using vegetable-tanned leatherproduced in India Organized retailOrganized retail has been defined as a communicate of similarly branded stores with an element of self service Raja (Market) A prince, chief, or ruler related products in India Rani (Market) Indian princess related products Ethnicity Ethnicity implies common customs, values, and attitudes within a group of people who are bound by a common cultural identification Saree a dress worn primarily by Hindu women consists of several yards of light material that is draped around the body Ethnic groups A group of people who share a common descent, a sense of collective identity and usually a s hared cultural heritage and tradition Sona-chandi (market)-Gold & silver related products/jewellery Ethnic MarketingEthnic marketing is an important aspect of lifestyle marketing, a strategy that tailors a companys products and services towards the customers lifestyles Ghar -aangan (market)Home decoration related products Handicraft Items made by hand, often with the use of simple tools, and are generally artistic and/or traditional in nature . They are the objects of utility and objects of decoration. Incense stick It is composed of aromatic biotic materials, which release fragrant passel when burned Thoda aur (market) somewhat more than the existing here in the context of more than the regular offerings.