Sharing insights at India Interior Retailing 2022
FRDC was recently invited to speak at India Interior Retailing (IIR) Dealers & Retailers conference held in New Delhi, as part of MATECIA EXHIBITION 2022. The three-day event included knowledge sessions for manufacturers, dealers, retailers and top showrooms in interior products. Speaking at the event, Sanjay Agarwal, MD & Co-Founder of FRDC shared his insights as a panelist on the relation of showroom sizes and profits, the nuances involved in cracking this code. Sanjay reiterated the importance of ‘focus’ in determining store size and location, and most importantly the clientele or target group in creating an impactful store experience that delivers the business objective of the retailer.
"In retail, there's a science of "hub". If one opens a huge store, but if it is not easily accessible, then it may not attract audience. But a small store that is easily accessible, will definitely get more footfalls.”
Sanjay explained further that in most cases retailers of building & interior materials only design stores for architects & interior designers. However, current times there are many D2C brands that deal directly with the end customers and are disrupting the market. “This means that a showroom's size will matter for the SKU range, but the location of the showroom will matter more from a customer's perspective."
"I always believe in this saying that people are interested in the bolt, not the drilling machine. When a person visits your showroom, determine if it is because they have a project (and need guidance) or do they already have an image in mind for their project. In the plywood, laminates & veneer industry, there are very few customers belonging to the second group, and one can set-up a small area in their showroom for them. As for the customers belonging to the first group, create a solutions-driven showroom. Do not emphasize on the product but on the solutions & services aspect. In the end, a successful material retailer would be someone who provides guidance, services & solutions, and not just products."