Market Analysis of Branded Apparel and Brand Stores
- March 11, 2018
- Posted by: RSIS
- Category: Management
International Journal of Research and Scientific Innovation (IJRSI) | Volume V, Issue II, February 2018 | ISSN 2321–2705
“Market Analysis of Branded Apparel and Brand Stores”
Dr. Subramaniam Seshan1, Nilima Kanojiya2
1Associate Professor, Datta Meghe Institute of Management Studies, Nagpur, Maharashtra, India
2Alumni, Datta Meghe Institute of Management Studies, Nagpur, Maharashtra, India
Abstract: – Brand is essentially the sum of all experiences related to the product, service, and companies that make and deliver the product. Brand perceptions are shaped by functional experiences (i.e. speed, quality, reliability, ease of use) as well as emotional experiences (i.e. make me feel better, improve my performance, make my life/job more gratifying or easier) the customer associates with the product and company.
The apparel market in our country has undergone a transformational phase over the past few years due to growing number of working groups, changing fashion trends, increasing level of information, media exposure and entry of big brand names. Regular Consumer is not only confined to traditional tailored cloths, but now trying different brands of ready to wear and branded materials & apparels. Consumer expenditure on clothing in our country after the 1991 reforms has shown a consistent increase. It is projected that consumer expenditures on clothing will increase from 27 million USD in 2009 to 77 million USD in 2020 (Euro monitor, 2010).
SCOPE OF THE STUDY – The scope of this study is limited to Nagpur city and the information will be collected from the urban population of city between the age group of 20-50 with respect to acceptance of branded apparels and brand stores for analyzing respective market. In this study, a qualitative approach was used to understand the why Nagpur is becoming retail and brand store hub with remarkable pace. Data collection took place in Nagpur city.
Key words – Brand, brand store, apparel market, consumers in our country.
I. INTRODUCTION
Retailing has witnessed a rapid transformation from a mere kirana stores to huge stores in a sprawling place in the last decade. This is evident from the fact that shopping mall activity which was earlier only a part of the urban locality has started percolating down to rural parts of the country since India is predominantly encompassing rural population.
