MyDollarStore, the US-headquartered discount retail chain that earlier decided on a multi-price point strategy in India, is now weighing plans for a cluster model approach.
According to a retail industry analyst, a cluster model in retail, by catering to local tastes, helps in better customer connect.
Soumitra Ghatak, CEO, MyDollarStore India, told DNA Money: “We will have stores to match customer profile and psychographics. For instance, breakfast cereals may sell well in Mumbai or Kolkata but not in, say, Ranchi.”He added: “At the same time, the merchandise stocked at a Ranchi store would perhaps be somewhat different from one in Kochi.” The company’s new business mantra in India is, ‘Think global, act local’.
MyDollarStore, which stocks a variety of fixed-priced imported items, sources its merchandise from the US, Europe, Hong Kong and China.
The retail chain has been in the country for the last few years. It has experimented with various models in an effort to get its formula right in India.
MyDollarStore To Take Cluster Route
June 23, 2008 by Cris | 1 Comment
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