Looks like Wal-Mart's entry into India will hotten up Real Estate market apart from the Retail Space. According to J C Williams Group, a Retail marketing and research company, shops near Wal-Mart benefit from the crowd that is attracted to Wal-Mart. However to take the maximum benefit of Wal-Mart's proximity, retailers need to follow some dos and don'ts.
"Our case study shows that a large number of shoppers come to Wal-Mart stores as they offer goods at lowest prices. However, the nearby shops benefit from the crowd that is attracted by Wal-Mart," retail marketing and research company, J C Williams Group's Senior Partner, John Torella said on the sidelines of a retail conference here on Monday.
However, he set a list of dos and don'ts like the nearby retailers should try to stock brands different from those of Wal-Mart or create their own private brands. They should try and become category-dominant, he said.
The nearby stores must try and change their service timings. They could either open or close later than Wal-Mart, he added.
They must try and equal the returns which Wal-Mart offered to its customers, he said, adding they should also keep a customer data base. "They should also unleash marketing strategies come out with ads and flyers," he said.
Adding experience to the business is important, he said.
"The other retailers must make sure that their store environment is exceptional," he said, adding the retailers should be quick to adopt new technologies."