In a buying frenzy
Hi,
I had to accompany a few friends who did Christmas-cum-New-Year shopping in a local shopping district. The place was brimming with masses, each trying hard to complete their holiday shopping. There were about 15 huge retail superstores, 25 not-so-huge big stores and some 500 shops in tents on the pavements.
My calculation went like this:
The local population: 60 - 70 lakhs
The segment that wants to shop in the shopping district: 15% - approx. 10 lakhs
The above may be narrowed down to 2.5 lakhs shoppers every weekend.
Floating population (entering into the city) for purchase sake during the weekends: 1.5 lakh
Hence, the shopping district needs to serve around 4 lakh shoppers, every weekend. It makes the average no. of visitors per shop as 750 shoppers / shop during the weekends. Give and take some shoppers, to adjust the skewed visits made to few stores.
It is now up to each enterprise-owner to make the skew "happen" to his / her benefit. Shops rope-in expensive models to endorse their brand. The catch is, these shops have these models communicate that the prices are the lowest. In the frenzy to shop, buyers do not question the costs of roping-in expensive models for endorsement. How could prices be cheap if the enterprises were to pay these models their exorbitant fees?
As I walk through the busy streets of this district, I see hoardings that feature these models crying out "their" stores' lowest prices. In the frenzy to buy, who has the time to question?
Vijay
I had to accompany a few friends who did Christmas-cum-New-Year shopping in a local shopping district. The place was brimming with masses, each trying hard to complete their holiday shopping. There were about 15 huge retail superstores, 25 not-so-huge big stores and some 500 shops in tents on the pavements.
My calculation went like this:
The local population: 60 - 70 lakhs
The segment that wants to shop in the shopping district: 15% - approx. 10 lakhs
The above may be narrowed down to 2.5 lakhs shoppers every weekend.
Floating population (entering into the city) for purchase sake during the weekends: 1.5 lakh
Hence, the shopping district needs to serve around 4 lakh shoppers, every weekend. It makes the average no. of visitors per shop as 750 shoppers / shop during the weekends. Give and take some shoppers, to adjust the skewed visits made to few stores.
It is now up to each enterprise-owner to make the skew "happen" to his / her benefit. Shops rope-in expensive models to endorse their brand. The catch is, these shops have these models communicate that the prices are the lowest. In the frenzy to shop, buyers do not question the costs of roping-in expensive models for endorsement. How could prices be cheap if the enterprises were to pay these models their exorbitant fees?
As I walk through the busy streets of this district, I see hoardings that feature these models crying out "their" stores' lowest prices. In the frenzy to buy, who has the time to question?
Vijay
posted by Vijay at 6:05 PM
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