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The Panel Discussion on The Art and Science of Retailing\u00a0Occasion\u00a0Wear\u00a0in South India had industry experts discussing on how they blend science & art of retailing occasion wear.<\/p>\n

Panelists of this discussion were:<\/p>\n

K.R. Nagarajan, Founder & MD, Ramraj Cotton<\/p>\n

Jagdish Sarda, Founder & MD, VENFIELD<\/p>\n

Somesh Warakandan, Director, VKR Silks<\/p>\n

S.Franklin John, Principal, Nehru College of Management<\/p>\n

Moderator: Bijou Kurien<\/p>\n

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Opening comments by Bijou Kurein (Moderator)<\/span><\/b><\/p>\n

“Occasion wear is emotive and high value. It needs a blend of both the art and the science of retailing.”<\/span><\/i><\/b><\/p>\n

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• The art of retailing is intrinsic; the science, that which is structured and learned<\/li>\n
• Owner retailer driven companies have retailing down to an art. Being an owner and feeling a \u2018sense of ownership\u2019 are two different things.<\/li>\n
• Owner retailers \u2013 feel the pain of profit and loss.\u00a0 The promoters owns money \u2013 the professional, a sense of ownership,\u00a0 The owner knows how money works \u2013 in terms of stock, customer service, employee satisfaction.<\/li>\n
• When you build a business in a smaller city, where your family has deep generational roots, you know the customer better and can \u2018localize\u2019 communication and marketing, without thinking about it as being <\/i>\u00a0marketing.<\/li>\n
• The art of retailing is often transitioned over \u201cdining table\u201d conversations \u2013 it\u2019s a DNA level infusion.<\/li>\n<\/ul>\n

  Question: How does your business integrate the art and science of retailing?<\/span><\/b><\/p>\n

  K.R. Nagarajan, Founder & MD, Ramraj Cotton<\/span><\/b><\/p>\n

  “Our mission was to create a status symbol out of the veshti”<\/span><\/i><\/b><\/p>\n

  <\/i><\/b>“Fashion is about mixing habit with comfort”<\/span><\/i><\/b><\/p>\n

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  • Converting the \u2018veshti\u2019 into occasion wear has been our mission.<\/li>\n
  • When we started, in 1980\u2019s \u2013 only the cooperative movement produced dhotis (called \u201cKadar\u201d dhotis; Kadar means respect). However these were low quality.<\/li>\n
  • Dhoti\u2019s were associated with the blue-collar, labourer class.<\/li>\n
  • In a bid to market the product, when I wore the product and went to a five star hotel, I was made to wait, while others (who were wearing formal trousers) were allowed to enter.<\/li>\n
  • I realized that there was a need to re-position the product.<\/li>\n
  • So, I made it a point to associate, tangible \u2018signs of success\u2019 with the \u2018veshti\u2019 \u2013 for example, I would make it a point to be seen driving in a Mercedes wearing the white veshti,\u00a0 I got temple elephants to salute people wearing white veshtis and made sure that there were people passing them who wore that garment.<\/li>\n
  • We\u2019ve also used the emotive appeal of actors \u2013 from the Tamil and Malayalam film industries to be our brand ambassadors.<\/li>\n
  • Focus: that\u2019s been a critical component. We\u2019ve stuck to the message of \u2018pristine, pure white\u2019.<\/li>\n
  • We believe that consumers who wear white for 21 days, will not want to revert to coloured clothes.<\/li>\n
  • While our range of merchandise spans mens wear, our entire branding,\u00a0 positioning and marketing is about the \u201cpower of white\u201d.<\/li>\n
  • Our positioning of the veshti as \u2018occasion wear\u2019 was also deliberate.\u00a0 Festivals and occasions are instances where people seek the comfort of traditional and the familiar.<\/li>\n
  • We wanted the consumer to feel proud about wearing ethnic, traditional wear.<\/li>\n
  • Lastly, we\u2019ve used product innovation to get people to adopt the category (example \u2013 veshtis with belts, pockets, and inner boxers \/ drawers) \u2013 all based on consumer feedback and aimed at making the consumer comfortable about wearing the dhoti.<\/li>\n<\/ul>\n

    Somesh Warakandan, Director, VKR Silks<\/span><\/b><\/p>\n

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    \u201cLooking <\/span>at the silk saree category from the \u201coutside in\u201d is what helped us expand.\u201d<\/span><\/i><\/b><\/p>\n

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    • For us the art of retailing is the art of \u201cretaining\u201d.<\/li>\n
    • Most of our sales staff have been with us for more than 30 years. They are able to sell to three generations of women customers and are able to map merchandise to profile and taste.<\/li>\n
    • Customers no longer see us as \u201cwedding saree\u201d sellers \u2013 they look at us as a place to shop for festivals.<\/li>\n
    • That \u201coutside in\u201d differentiation is what helps us expand our business.<\/li>\n<\/ul>\n

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      Jagdish Sarda, Founder & MD VENFIELD<\/span><\/b><\/p>\n

      “Garments<\/span> and brands both become commoditized, but service endures. “<\/span><\/i><\/b><\/p>\n

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      • Retail is not about opening a big store, dumping stock and pushing sales. Its about how you treat your customer.<\/li>\n
      • You need to be present where the customers habitually goes. In the past that was the temple \u2013 today it\u2019s the mall, and tomorrow it will be online.<\/li>\n
      • As an entrepreneur I am in love with \u201caction\u201d but the business demands that \u2013 beyond a point – I have to be replaced by technology \u2013 otherwise it cannot grow.<\/li>\n<\/ul>\n

        Question: How can academia help retailers understand the art and science of retailing?<\/span><\/b><\/p>\n

        S.Franklin John, Principal, Nehru College of Management<\/span><\/b><\/p>\n

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        When it comes to occasion wear, do not assume that price drives value. “<\/span><\/i><\/b><\/p>\n

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        • Handling the customer is an art, understanding her is the science of it.<\/li>\n
        • Research tell us that we have two brains (right and left) and two levels of consciousness (cognitive and sub-conscious)<\/li>\n
        • Connecting with the consumer is a right-brain, emotive, and a sub-conscious phenomenon.<\/li>\n
        • Retailers who forget this get lost in feedback scores and their brands become \u2018bland\u2019.<\/li>\n<\/ul>\n

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