Business Development Heads: Market Expansion Drivers in the Realm of Retail
In the world of retail, it’s said that the three most important decisions are location, location and location. So imagine the responsibility of the person who takes this most critical decision for a retail organisation. The person is mostly designated as Head – Business Development and or Retail Expansion and in some organisations as Retail Real Estate or Property Head.
Real Estate being the most expensive head on Retailers P&L (Profit and Loss), it is imperative that leaders driving the market development strategy are extremely cost conscious.
With retailers wanting fast growth and deeper market penetration on one hand and the pressures of increasing rentals and costs of new store opening on the other; the role of business development heads becomes extremely challenging. Tracking return on investment (ROI) and per sq. ft. return across existing markets and shopping centres, these professionals also always need to be ahead of their competition in identifying opportunities to open stores in emerging locations. And it’s not just stores. These professionals are also responsible for finding locations and properties for offices, warehouses, delivery locations and more. IMAGES Group recognizes the contribution made by these professionals towards building a profitable retail network for their respective organisations and working with shopping centres across India to create memorable shopping destinations for customers.
In this edition of IMAGES Retail, we feature some of the leaders in retail business development. The exclusive feature talks about the journey, challenges, aspirations, vision and goals of these professionals.
Hope our readers find the retail journey of these BD Heads inspiring and encouraging.Log on to https://www.indiaretailing.com/ for more features, analyses and opinions.