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Case Study On Visual Merchandising of Reliance Trends

Introducation of Visual Merchandising

Visual merchandising is the practice in the retail industry of developing floor plans and threedimensional displays in order to maximize sales. Both goods and services can be displayed to highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase. Visual merchandising commonly occurs in retail spaces such as stores.

Reliance Industries Limited (RIL)

Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of INR 2,96,091 crore (US$44.7 billion), net profit of INR 27,630 crore (US$ 4.2billion) as of March 31,2016.The Group's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail, infotel and special economic zones. RIL contributes to over 13% of India’s export sand over 4.5% of the total market capitalization in India.

Background of Reliance Trends

Type - Subsidiary

Industry - Retail Founded 2006; 13 years ago

Head Office - Bangalore Area served India

Key people - Chairman Mukesh Ambani CEO Akhilesh Prasad

Revenue - 19.32 Billion Dollars (2018-2019)

Operating income - Profit After Tax INR 7 billion

Parent - Reliance Industries Limited

Website - https://www.relianceretail.com/

About Reliance Trends

Reliance Trends Ltd. is an apparel & accessory specialty format that was conceived with a vision to deliver fashion, selection and quality of products and experience at great prices to its consumers. Reliance Trends launched its first store in the country in October 2007. Since then the company has opened more than 300 stores across the length and breadth of the country. With presence in more than 160 cities, Reliance Trends, today, is India’s largest fashion destination, selling 2 lakh garments a day!

Reliance Retail’s commitment to bettering lives has been embodied in its pursuit to make a difference on socio-economic issues in India. Reliance Retail operates 3300+ stores pan India with over 13 million square feet of retail space and is growing rapidly. It serves over 3.5 million customers every week.

Reliance-Trends-Case-Study-By-DSIFD-Indore

The own brand portfolio includes

Rio                          A vibrant range of snazzy trends for young women.
Fig                          Fashion wear for discerning, independent & working women.
Avaasa                    A range of Indian wear for women offering the finest collection of salwar kurtas, churidars and a fast evolving mix n match range of garments.
Fusion                     A range of fusion wear for women where east meets west & style meets comfort
 Hushh                    The lingerie line for women offers an extensive range of innerwear and sleepwear.
 Frendz                   Range of garments that complements the wardrobes of the growing generation of boys and girls.
 Pureza                   A collection of pure cotton & linen shirts for men.
 Network                Offering a range of garments which comprises of formal office wear collection for men and women.
Netplay                  Range showcases a smart casual collection for the evolving workplace
The DNMX              Range has been developed with a clear focus on the youth of India, offering them exclusively crafted fashion garments like denims, T shirts etc.
Performax              The specialized sportswear or active wear brand, which supports performance in sporting activity.
Graviti                   The innerwear range for men offering the best of inner and lounge wear.
Point cove              Kids wear brand that features bold colors bringing the california spirit to India.

Skills Required Visual Merchandising

  • A talent for design, color, and style.
  • Creative flair and imagination. 
  • Strong interest in current and future design trends.
  • Visual/spatial awareness and manual dexterity.
  • Effective communication and negotiation skills.
  • Engaging and working well with a range of teams.
  • Able to work with constructive criticism.

Techniques of Visual Merchandising

Visual merchandising consists of mainly two techniques; interior and exterior displays, also known as in-store design and window displays. The overall goal of the window display for the retailer is to persuade the customer into the store and motivate purchasing. Consider a combination of techniques that can increase the customer's product awareness and desire to purchase. In-store design and window display techniques can be used to enhance the store environment, influencing consumer behavior and purchasing decisions.

Visual Merchandising Contents

Windows Displays in Visual Merchandising

Windows Displays

Visual merchandising is a multi- sensory tool used by retailers to catch the attention of customers and attract them into a store to make a purchase. The first piece of visual merchandising customers encounter with a brand is the window display.

Image-Photography-in-Visual-Merchandising-DSIFD-Idnore

Graphics, photography or brand image and signage

Visual merchandising is a multi- sensory tool used by retailers to catch the attention of customers and attract them into a store to make a purchase. The first piece of visual merchandising customers encounter with a brand is the window display.

Store layout and design

A store layout and design is the actual key ways to try to influence the movement of customers in the retail store. It helps to give guideline them to more merchandise as well as providing communication cues to the consumer. The ideal store layout and design will helps to give guideline to increase merchandise and to create interest in the product from the customer’s perspective.

 

Eye catching banner

To attract the customer concentration, fashion or apparel retailers use eye catching banners in the outside of the store for exterior display. It is built up in creatively, inexpensive but colorful, eye catching means of promotion. Banners can be hung up from flagpoles, projected from the building or flat against the exterior. Always get a new look retailers are changing the banners continuously

Landscaping in Visual Merchnadising

Landscaping is the powerful concept and interesting composition of visual merchandising. IT can increase consumer interest by creating the focal point using color and texture to supply contrast and harmony. The focal point is the business sign and it helps the building itself. To highlight the product display and store arrangement retailers use of simple and attractive landscape design and they also ensure that customers can easily view the focal point and merchandise. Different equipments like plants, flower, small beds, and other required materials that are used to improve the overall look of the fashion retail store.

Colour Selection in Visual Merchandising

Colour is a one of the most powerful tool in exterior visual displays. Colour can express creativity for exterior window displays and it can create emotions and feelings among consumers that activate and stimulate specific memories and it can also create atmosphere, catch the attention of by-passers, and attract them to the retail store for purchasing goods.

Marquee in Visual Merchandising

Marquee is an architectural permanent canopy that place over the shops entrance. It provides specials events, occasion, offers, display promotional banners. Ex: Board way

Lighting in Visual Merchandising

Without proper lighting, visual merchandising in apparel retailing is not possible. Today fashion retailers using computer software for adjusting the brightness and color of the window display lightning. If it is day or night display lighting depends on the outside light level. There are three types of lighting used in fashion retailing:

• Primary lighting

• Store illumination

• Atmosphere lighting

Eyesight Effects in Visual Merchandising

Eyesight is the visual elements that help to create impressing atmosphere by the use of colors, lighting, shades and shapes, elements of arts and principles of design.

Display Stand in Fashion Store

A point of sale display assemble d by a contract packager display stand for postcards. A display stand is an advertising tool that has a direct impact on product sales

Lighting Effects in Fashion Store

In the fashion retailing business, retailers and visual merchandisers play slow tempo music for consumer relaxation. Music’s are selected by the style of the shop and it helps to promote brands, making purchasing decision and customer also spend enjoyable & longer time in the shop

End of Season Sale

End of Season Sale (EOSS) is now a trend among the apparel retailers in India. It is one of the discount sales techniques adopted by the apparel retailers. Many consumers are looking forward to make their purchase during the EOSS. They postpone their purchase till the EOSS being offered by the retailers. These type of consumers are very high value conscious consumers. It is a magical word which attracts a customer to the store like a bee to the flower. Ever wondered what would be possibly going through the customer mind during the End of season sale? What goes into the mind of the consumers during the EOSS purchase. This article analyses the possible consumer psychology behind the EOSS. End of Season Sale (EOSS)It is a stock clearance sale offered by the apparel retailers before start of the next apparel selling season. Earlier days the stock clearance sale was done yearly once at the end of the particular accounting year. But nowadays it is being given at the end of the particular selling season. Apparel retail sales are mainly based on selling seasons that prevail in the particular country. The selling season may vary from country to country. In western countries, it is classified as Back-To-School, Spring or Summer, Fall or Winter, Thanks giving, Halloween etc. In India, the selling season is mainly based on festivals and family functions. It is like Deepavali, Christmas, Ramzan, other religious or local festivals, Back to School, marriage seasons, etc.

The concept behind the EOSS is that nowadays the fashion change occurs rapidly and a fashion by the end of the year, the fashion may not be a favorite one. The fashion product life cycle is also becoming shorter so it is no point keeping the fashion for normal sales till the end of the year. It also incurs unnecessary stock carrying cost and also occupies the store or selling space which is one of the important resources for the apparel retailers. So to make effective and efficient retail sales, the apparel retailers adopt the technique of EOSS. It is also very much beneficial for the consumers particularly those who are fashion conscious but at the same time having very high value consciousness. The discount percentage varies depending on the type of apparel and it is typically in the form of "Up to 50%" or "Up to 70%" etc.

Consumer Psychology

During the EOSS, customer perceives an increase in utility from his disposable income than during the off-discount period. Hence, an illusion often gets created in the mind of the customer that there is an increase in his disposable income, though in reality there is no actual increase in his income. For example - a disposable income of Rs.1000 allows him to purchase one pair of jeans. While during EOSS with 50% off for the same pair of jeans, the customer is left with an additional disposable income of Rs.500 even after the purchase of jeans. Thus, while the disposable income left with the customer after purchase during the off-discount period is nil, during EOSS the disposable income left with him after purchase increases by Rs.500. Therefore, the customer perceives an increase in his disposable income during EOSS owning to his savings. As a result the average price sensitive customer entails greater utility for the same merchandise during EOSS.

Tagline of Reliance Trends

This key insight is given voice in the brand's tagline

"Trends Bante Nahin Banaye Jate Hain"

(Trends don't just happen on their own, they are created.')

 Commenting on the new campaign, Akhilesh Prasad, CEO of Reliance Trends, said,

We live in interesting times.” 

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