1.

Describe the possible business opportunities in the consumer market.

Answer»

Among the largest retail business group, four companies operate in the departmental store format. These are, Shoppers Stop. Westside, Lifestyle and Pantaloon. The contribution of all these in the annual retail sale is not more than 2700 crore rupees, whereas the emerging hypermarkets and joints, Food World and Big Bazaar, which are food and grocery supermarkets, contribute up to 2500 crores annually. Among food services, top players like Haldiram, Café Coffee Day, Yum, McDonald’s, Nirulas and Barista exceed revenue of 600 crores. 

(1) The object of the special consumer market – All those products and services are included in this category, which is used by common people in routine daily life.

1. Jewellery and fashion jewellery – 

Today, there is an increasing trend of fashion and over show in India. The need for jewellery in the middle and upper class has become as useful as food. The number of jewellery shops has increased in the cities and town. 

2. Games and infra – textile products- 

Extensive changes have come in lifestylerelated sectors. Demand for a special attire for sports and men’s/women’s innerwear products is also increasing. Thus, possibilities exist in the consumer market in this sector. 

3. Health protection and nutritious products – 

The fact has emerged from various research institutions that people in India are becoming quite aware of their health.

(2) Food trade – Due to the changes that have taken place in the lifestyle and culture of Indian youth, eating habits, methods and products have also changed rapidly.

1. Indian sweets and savouries – 

There are plenty of Indian savouries, sweets and snacks in the market. Local savouries and snacks, such as cutlets and vegetable-stuffed bread are in great demand. Thus, the retailing of these products at the regional and national level has enormous business possibilities and ensures a high ratio of success. 

2. Fast food – 

The trend of consuming fast food is increasing among all income and age groups in India. The push to the market in this sector may have been provided by foreign brand products-pizza or burger, but customers for local fast food remain in large numbers even today, and they dislike local fast food and are satisfied only with these. Thus, keeping the focus on good customer service, cleanliness, quality and reasonable pricing, local fast food items like – Mirchi vada, Dosa, Idli, Pav-Bhaji, Kachori, Samosa, Bhujiya, Sattu, etc. also have great business possibilities. 

3. Bakery Food Items – 

Today, the trend of baked food products has increased in society and in addition to this, the demand for various kind of bread is increasing. The trend of bread with varying tastes and protein-based bread is growing. In upper-class people, brand-based bread of star hotels, like ‘Bread and More’ and ‘hot bread’ are a favourite, and their success indicates enormous business possibilities which lie in this sector. 

4. Ice cream and Juice Parlours: 

The current changes in eating habits of Indians have resulted in a continuous increase in the demand for ice creams and juices. Nowadays, eating ice cream after meals or while walking in parks in the evening or having juice is becoming a common habit. Thus, considerable business opportunities exist in this sector. Local products can be made popular by paying attention to their quality, packing and price.



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