We are looking to create something of a Tam equivalent in
order to grow the medium to 100 crore, states an agency source.
However, this will take about a year and a half to come into
place, first the medium has to be launched, then it will be
followed by measure systems.
Does this medium only permit advertisements
from big brands willing to pay higher premiums? No. It is believed that the mid
sized brands in their attempts to use their advertising monies more efficiently
will attempt to get their strategy right rather than top notch brands for whom
a meager wastage will not factor in. So it is likely that this space will be dominated
by a large number mid-level brands.
For this initiative, GroupM
will work in tandem with parent company WPP's global retail outfit The Store which
is headed by Maureen Johnson as CEO. Present at the event, Johnson shared the
nuances of in-store advertising and spoke in admiration for the way India was
developing as a sophisticated retail market. India is treating retail very seriously
and is one of the fasted growing retail countries globally. Applying the best
global practices, the next couple of years is likely to see it leap frog in growth,
she told this website.
Johnson spoke of the three key factors driving
this sector to create brand experience, drive sales and as a revenue stream,
she says each retail chain will have a different strategy but usually it is structured
such that 40 per cent is devoted to content, 20 per cent to generating revenues
and 20 per cent to providing news and information about products and services.
If the content and presentation is persuasive coupled with price
cuts, does not a retail environment threaten consumer loyalty? Absolutely not,
she asserts. Infact it actually provides consumer power and advantage through
the informational value that it offers.
However, she believes the
biggest challenge for India as it emerges in the retail space is attracting and
recruiting the right talent. "The quality of staff makes all the difference
as the growth has to be suitably serviced."
In her presentation
she differentiated the growth pattern of India from China, when queried about
how it would follow a different growth path, she states that China supports mass
growth but this is different in that a huge amount of attention is given to the
environment and technology which are key factors for its speedy progression.