Strategic tools for the practising manager

KIT

THIS WEEK: BELTS MARKET IN URBAN INDIA

The total size of the market for belts in urban India among the SEC A and B population between the age of 15 and 25 years is estimated to be at Rs 840 crore.

Genuine leather belts make up the largest share of the belts market in terms of value (61 per cent), followed by belts made with leather look-alikes (23 per cent) and fabric (16 per cent).

Kiosks are the most popular store formats when shopping for belts: 27 per cent of belts bought are purchased at such outlets. Organised multi-brand outlets (MBOs) are the second most popular at 21 per cent, and roadside and street hawkers are third at 18 per cent.

Malls and high streets are the most popular locations to shop for belts "" attracting 28 and 26 per cent of belt purchases, respectively.

Popular brands include Tommy Hilfiger, Bulchee, Allen Solly and Van Heusen. Popular private labels include Peprika, Code and 2 fast 4 u.

Kiosks dedicate 52 and 19 per cent of store space for men's and women's belts, respectively. Organised MBOs dedicate 34 and 9 per cent of store space to the same products.

Only 26 per cent of belts bought are branded compared to unbranded belts (74 per cent).

Selections from management journals
NUGGETS

Marketers spend untold amounts of money to define who their customers are, what their needs are, and how to ensure they have a positive experience that will translate into sales.

But how often is the role of emotions factored in when discussing customer buying habits? Not nearly enough, contends Liam Fahey, chief architect at the Emotion Mining Company.

During a recent lecture hosted by Emory University's Emory Marketing Institute, Fahey outlined the importance of emotions and how tapping into the subconscious feelings of customers can translate into increased sales and satisfaction, not only for the customer, but for the company too.

The hidden influence of emotions on consumers' choices
Knowledge@Emory,
January 16, 2008
Read this article at http://knowledge.emory.edu/