South offer vast potential for retailers: Reliance Retail Chief

Bangalore, May 30 (UNI) Higher urbanisation and literacy rates offer tremendous potential for retailers in South India, Reliance Retail President and MD Bijou Kurien said today.

Speaking at South India's mega retail event 'The Shop' which began here, he said that historically South had been less invaded by foreigners and as a result the region was more insulated against change than others. High literacy race and lower population growth were conducive for retail trade.

He also emphasised that diversity in language, ethnic and cultural practices as well as higher price and brand sensitivity of customers induce retailers to adopt distinctive retail strategies for different parts of South India.

Mr Kurien said South had always been at the forefront of retail revolution with several firsts such as largest toy stores, Kemp Fort in Bangalore, largest film city Ramoji Film City in Hyderabad and first mall of the country, Spencer's Plaza in Chennai.

Titan Industries Managing Director Bhaskar Bhat, who also spoke, said that retail was an essential service that helped to sustain the brand image at the point of purchase for the customer. It complements the overall marketing strategy for the brand and was thus indispensable for a company.

"Good retail is a judicious blend of information led customer management and attitude to serve. South India by virtue of its high literacy levels, brand loyalty and quality consciousness offers huge potential for retailers," he added.

UNI