Out of the box

Font Size

Print

Feedback

Email

Discuss

Related Articles

Tata Steel completes $546-mn exchange offer for CA...Dell Q3 profit dips 54 per centRIL shareholders approve 1:1 bonus issue

: One doesn’t need to be a rocket scientist to see the benefits to stakeholders. It helps advertisers catch the attention of time-starved-commercial-bludgeoned shoppers at the point of sale. Retailers can keep their captive audiences updated on the latest schemes and promos, and get a halo effect in the bargain as they are likely to be seen as modernised and high-tech. If nothing else, they can also sell airtime for client advertising to monetise the network. Not to forget that it helps shoppers feel connected and, above all, empowered.

Just on the off chance that you are still raking your brains, we are talking about in-store television networks on the lines of Wal-Mart TV, a phenomenon that’s fast gaining currency across big retail in India. Though not prodigious by any account—industry estimates put this year-and-a-half-old industry at Rs 50 crore, with eight to 10 major players flaunting 8,000-odd screens across the country—the potential is easy to gauge.

In 2007, India topped AT Kearney’s annual Global Retail Development Index for the third consecutive year, maintaining its position as the most attractive market for retail investment. At 12 million, India also has one of the largest number of retail outlets in the world. In other words, a prime candidate for precisely this kind of an advertising platform. But remember, “by no means does out-of-home television compete with TV as a medium,” says Ishan Raina, CEO, Out-of-Home Media, a company which operates in this space. “But it helps build the frequency of TV and other forms of advertising because an increasing number of people spending more time out-of-home especially in retail clusters like malls, cafes etc.”

The growth projections are sure to draw more players to retail TV. The organised retail market in India is expected to more than double in the next three years to touch $30 billion from $14 billion currently, says a recent FICCI-Ernst & Young report. The report, Winning With Intelligent Supply Chains, says that organised retail, which now accounts for 5% of the $280 billion retail market, will grow to 30% of the total market in the next 10 years.