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Fashion Value Chain

Strategic Location Analysis and Marketing Approaches for New Retail Standalone

Nagarbhavi EasyBuy Store Srinidhi Rajadurai PG Scholar, Master of Fashion Management, NIFT Daman Dr Rahul Kushwaha, Assistant Professor – FMS, National Institute of Fashion Technology, Daman Introduction The retail landscape is continuously evolving, prompting businesses to seek strategic locations that maximise customer reach and enhance brand visibility. This research focuses on the strategic location analysis and marketing approaches for the proposed Nargarbhavi EasyBuy Store, aiming to provide insights into the viability of establishing a new standalone store in Nagarbhavi. Nagarbhavi, a densely populated suburb in Bangalore, presents a great opportunity for retail expansion due to its growing middle-class population and increasing consumer spending power. Marketing strategies are essential for any brand as they encompass the plans and tactics employed to promote products or services to target audiences. These strategies not only help in attracting new customers but also play a crucial role in retaining existing ones by fostering brand loyalty and awareness. For EasyBuy, a brand known for its commitment to providing quality products at competitive prices, effective marketing strategies are vital. They ensure that the brand not only stands out in a crowded marketplace but also resonates with the local community, thereby driving foot traffic to the new store. Through this research, the aim is to provide valuable insights into the strategic planning of retail operations, ultimately enhancing the competitive edge of the EasyBuy Store in Nagarbhavi within a rapidly changing retail environment. Objectives To assess the demographic profile and purchasing behaviour of residents in Nagarbhavi. To conduct a competitive analysis and identify EasyBuy's market positioning potential. To recommend localised marketing strategies to maximise store visibility, footfall, and conversion. Literature Review The research paper on a case study on Zudio by B Govil examines brand awareness, focusing on Zudio, a retail clothing brand. Which aimed to investigate Zudio's strategies to create and maintain brand awareness, along with their effectiveness. Respondents view Zudio products positively, linking their quality to marketing promises, with advertisements and social media playing a significant role in shaping consumer preferences and choices. Zudio's marketing and celebrity endorsements are influential, and its loyalty programs encourage repeat purchases. The study offers valuable insights for marketing professionals and helps understand brand awareness dynamics in the fast-fashion industry, guiding future strategies for Zudio and similar businesses. Karta N & Dhita P describe how the digital world has made it complex to drive marketing strategies for a brand due to the impact of Generation Z, a significant consumer group born between the mid-1990s and the early 2010s. This research paper aims to analyse Generation Z's consumer preferences and effective marketing strategies for building sustainable relationships with them. It uncovers recurring patterns, emerging trends, and socio-cultural influences shaping Generation Z's consumer behaviour, as well as their shift towards experiences over physical products, and their preference for brands prioritising social values, environmental concerns, and sustainability. The insights from this research are expected to provide valuable guidance for companies looking to engage and resonate with Generation Z and remain competitive in the consumer market. Research Methodology The study combined both descriptive and exploratory methodologies. The descriptive aspect focused on evaluating the potential of the Nagarbhavi location through the analysis of customer accessibility, demographic profiles, and market demand, while the exploratory aspect sought to gain insights into local market trends, customer preferences, and the competitive landscape. Primary data was collected from residents of Nagarbhavi, including students and staff from nearby colleges and schools. A total of 180 people were approached, with 100 responses collected, and after filtering for accuracy and completeness, 87 valid responses were used in the analysis. Convenience sampling was utilised for participant selection. Additionally, interviews were conducted with the Business Development team to understand the site selection criteria and strategic planning for new stores. Secondary data was gathered through an on-ground catchment and competition study in Nagarbhavi, analysing key competitors such as Zudio, Style Union, and Trends, along with their product offerings, pricing, and promotional strategies. A SWOT analysis of these competitors was conducted, and historical performance data from previous EasyBuy locations was reviewed with input from the Business Development and Marketing teams. Geographic and demographic analysis was also performed using Google Maps to study the 3 km radius surrounding the proposed store, with supplementary data collected from online sources on population density, age distribution, and income levels. Data analysis was conducted using SPSS and Excel. SPSS was utilised to identify correlations between key variables related to customer preferences, while cross-tabulation and bar graphs were employed to examine purchase behaviours segmented by age and average family income. This comprehensive analysis of customer demographics and purchasing patterns provided critical insights into the viability and potential success of the proposed EasyBuy store in Nagarbhavi. About Nagarbhavi Nagarbhavi is strategically located between Mysore Road and Magadi Road in West Bangalore. It is well-serviced by public infrastructure and has a mix of educational, residential, and commercial establishments. Known for its cultural vibrancy and middle-class population, Nagarbhavi is ideal for a value fashion brand like EasyBuy. Demographics Snapshot Demographic Category Details Age Group Distribution 0–14 years: 30% 15–24 years: 25% 25–54 years: 35% 55+ years: 10% Income Levels Low: 20% Middle: 60% High: 20% Gender Distribution Male: 52% Female: 48% Languages Spoken Kannada, Telugu, English, Hindi, Tulu, Konkani Competitive Landscape Competitors within 750 Meters Brand Distance from EasyBuy Store Layout Style Union 250 meters Ground + 3 floors Trends 270 meters Ground + 2 floors Zudio 300 meters Ground floor Avantra 450 meters Ground + 2 floors Pantaloons 500 meters Ground + 3 floors There are also non-competing brands nearby like Croma, Jockey, W, Go Colors, and Puma. Their presence helps in clustering benefits, boosting overall footfall. Catchment Study of Nagarbhavi (2020 Data) Catchment Study Of Nagarbhavi In the catchment study of Nagarbhavi, conducted through site visits and secondary information collected online, the following key observations were made in 2020: The total population was 123,649, with 65,260 males and 58,389 females. The 25-29 years age group appeared to be the largest segment of the population, followed by the 20-24 years age group, which also represented a significant portion. The 65 years and above category appeared to be the smallest segment, alongside other smaller segments, including the 60-64 years, 55-59 years, and 50-54 years age groups. In most age groups, the male population slightly outnumbered the female population, but there were a few exceptions where the female population appeared to be slightly higher. The data above shows various establishments within a 3 km radius of Nagarbhavi as recorded during a my site visit & with the help of Google Maps. These establishments have been categorised into different sectors such as retail, banking, entertainment, healthcare, etc., to provide a better understanding of the Nagarbhavi neighbourhood. The area boasts a significant number of fashion retail stores (35) and dining places (50), indicating a potential market for a variety of consumer goods and food services. The presence of multiple shopping chains, malls, and departmental stores suggests a well-developed commercial infrastructure. The availability of banks, ATMs, and fuel stations further supports this. A considerable number of dining places, multiplexes, clubs, parks, and gyms indicate a focus on leisure and entertainment. The area also caters to educational needs with colleges and schools, while healthcare services are provided through clinics and hospitals. EasyBuy Internal Insights Factor Insight from BD Team Catchment Analysis Family-centric & student-heavy area Relocation Strategy Moving from older Unlimited store to higher visibility zone Market Health Competitor stores lack modern appeal Customer Behaviour Preference for nearby, accessible retail stores Financial Viability Projected ROI meets EasyBuy's retail benchmarks Clustering Strategy Retail synergy due to proximity with non-competing brands Store Design Modern, open layout to differentiate from competitors SWOT Analysis Strengths Weaknesses High foot traffic due to nearby schools, colleges, and residences Style Union is next door and has strong brand equity Enhanced visibility with EasyBuy Totem signage Zudio and Pantaloons already have a market share Accessibility and convenience from 80 Feet Road Cluttered fashion retail market Opportunities Threats Offline shopping preference of locals Non-branded local markets offering cheaper options Proximity to leisure destinations Risk of customer churn without differentiated value Customer Survey Highlights Demographics of Respondents (n=87) Age Group Percentage Under 18 4% 18–24 23% 25–34 41% 35–44 31% 45+ 1% Gender Percentage Female 74% Male 24% Prefer not to say 2% Interpretation In the survey, 87 people participated, and the findings and analysis are based on the collected responses. The age distribution of respondents was as follows: 23% were aged 18 to 24, 41% were aged 25 to 34, 31% were aged 35 to 44, 1% were over 45, and 4% were under 18. Regarding gender, 74% of the respondents were female, 24% were male, and 2% preferred not to disclose their gender. Frequently Visited Stores vs Income Group Store ₹2L–₹5L ₹5L–₹10L ₹10L+ Zudio High Very High Moderate Style Union Moderate High High EasyBuy High High Moderate Pantaloons Moderate Moderate Moderate Max, Intune Low Low Low Interpretation Zudio has a strong presence across all income groups, with a significant number of customers in the ₹5,00,000 to ₹10,00,000 income bracket. Style Union also has a presence across income groups but shows a stronger inclination towards the higher income bracket (₹5,00,000 to ₹10,00,000 and more than ₹10,00,000). EasyBuy, Max, Trends, and Pantaloons seem to have a more balanced customer base across income groups, with a slightly higher concentration in the middle income brackets (₹2,00,000 to ₹10,00,000). On the other hand, Intune, Styleup, Local Shop, and Jack n Jones have a very limited customer base and don't show a clear pattern in terms of income distribution. When asked about their preferences, 36.8% of the respondents valued product quality the most, followed by 31% for affordable prices and 23% for a wide range of products. Trendy styles, good customer service, attractive promotions, and discounts received lower preferences. Brand Awareness & Marketing Influence Metric Result EasyBuy Brand Awareness 75.9% aware Have Shopped at EasyBuy 39.1% Discounts & Offers as Shopping Driver 64% respondents Social Media Campaigns & Contests 68% influenced Influencer Promotions 59% influenced In-store Visual Appeal 64.4% influenced SMS Notifications 44.8% effective INTERPRETATION Out of 87 respondents, 75.9% are aware of the brand EasyBuy, while 24.1% are not familiar with it. Among those who are aware of the brand, 39.1% have shopped at EasyBuy before, indicating that there is a significant portion of respondents who are familiar with the brand but haven't made a purchase yet. This suggests potential for increasing the customer base by converting those aware into actual customers. Marketing Strategies Factors Which Encourage More Interpretation Discounts and offers – A Significant majority, 64%, indicated that the presence of discounts and offers would serve as a strong incentive to visit the store. This suggests that nearly two-thirds of the participants are highly motivated by promotional activities when deciding whether to shop in-store. Special interactive events – Are highly effective in attracting customers to the store, as suggested by 54% of respondents. These events can significantly increase customer footfall, leading to enhanced engagement and sales opportunities. Influencer appearance and promotions & social media campaigns and contest – Out of 87 respondents, 51 (59%) are influenced by influencer promotions, while 59 (68%) are swayed by social media campaigns and contests becoming the second most popular marketing strategies that respondents prefer and encourages them to visit a new fashion store. This indicates that influencer promotions effectively build trust and credibility, whereas social media campaigns and contests are highly engaging and drive immediate participation. Attractive window display and in-store decorations – these two elements play a crucial role in drawing customers to a new store. This is supported by the fact that 56 respondents, constituting approximately 64.4% of participants, indicated that these elements would significantly encourage them to visit. Short Message Service (SMS) Notifications – Out of 87 participants, 39 believe that SMS notifications about store openings would encourage them to visit the store. In contrast, 19 participants are neutral on this matter, while 28 feel that SMS notifications are unlikely to influence their decision to visit. Challenges And Solutions Throughout the project, I faced several challenges. Finding a focus group that accurately represents EasyBuy's target audience was initially difficult, but involving a group of 15-20 interns within the target age range and with diverse backgrounds proved effective. Coordinating with multiple department personnel and ensuring timely approvals and project completion by Friday was demanding. To address this, I maintained an organised checklist of all processes and conducted regular follow-ups. Ensuring clear and consistent communication across various departments was also challenging. Using a detailed checklist and regular follow-ups helped keep the process organised and on track. Coordinating data collection from multiple sources and ensuring accuracy and completeness was another significant challenge. Implementing structured communication and systematic tracking streamlined data collection and presentation. Finding And Feedback The coordination among store managers could have been better anticipated to attract more participants. In addition, errors in saving participant information by the store after the gameplay resulted in the loss of half the data, leading to more gameplay than captured leads. The discount voucher offered to all the participants is a positive step. It could incentivise people to participate in future games and potentially convert them into customers of the EasyBuy store. References Your one-stop clothing store for men, Women & Kids. Easybuy. (2024, July 30). Brand Awareness: A Case Study on Zudio. ResearchGate, 2024, Gen-Z Marketing Strategies: Understanding Consumer Preferences and Building Sustainable Relationships.' ResearchGate , 2024, . About Landmark Group, files/About%20Landmark%20Group_2.pdf. About Us. Landmark Group, Landmark Group, Easybuy: Revolutionising Neo India's Fashion Retail. Images Retail, Magzter, Accessed 19 Aug. 2024. EasyBuy India Posts. LinkedIn, EasyBuy: Acing India's Clothing Market. TopPan Digital, Khan, M. N., & Khan, M. A. 'Role of Marketing Strategies to Generation Z in Emerging Markets.' ResearchGate, 2023, DOI:10.51659/josi.21.166[ Kumar, A., & Sharma, R. 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