Retail mantra – “Money lies in niches”; Are retailers of furnishing goods listening?

Retail Mantra -Look for gaps

Modern-age retail is all about experimentation and bringing out concepts and themes that can create excitement as well as engagement amongst the targeted customers.

One such concept that caught my eye, it’s an American brand called Container Store. 

They have a very focused category called College Shop.

The concept is unique since it offers storage solutions to students who live in college dorms or hostels to pursue their studies.

They offer storage solutions, bedding and under-bed storage, and study zone assortments like tables, lamps, laptops desks etc which can fit in small spaces.

Recently, my daughter entered her college dorm life in India, and I wondered why no Indian brand has thought about such innovative retail concepts targeting students and universities.

Since their prices are pocket friendly keeping students in mind, hence the marketing vehicle used by container stores is only SMS or WhatsApp text messaging.

They have over 100,000 subscribers with whom they communicate directly through SMS or text-based ads.

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Retail marketing Vehicle SMS

The main marketing vehicle is SMS.

Social media has now become cluttered and to grab attention and generate sizeable impressions, you need dollars.

Rather SMS or text-based communication is a very personal and intimate form of communication.

And comes with a high rate of response as the messages are opened and read by the majority.

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Result:

 Today, the Container store has become a store where you can get almost everything you need for your dorm room.

Thus, proving the fact that money lies in niches.

Unfortunately, none of the middle eastern retailers of furnishing has ever thought about such a concept yet. 

Staying agile and adaptive is the only retail game.

I have co-founded a retail accelerator for beauty brands called Adhara Retail which is a one-stop retail accelerator for testing brands in retail, Pop-ups & provides expert consulting in Retail leasing, staff training & retail ops, and franchising to scale your brand.

If you are a business owner operating in the beauty/fragrance genre & want to grow your business & need a retail expert to help you achieve your “Vision to Reality” framework then feel free to write to me at riteshmohan@yahoo.com 

We can schedule a discovery listening call over a #coffeechat.