Posted: 2003-01-03 00:00:00+05:30 IST
Updated: Jan 03, 2003 at 0000 hrs IST *What is* the current trend in the luggage industry and the emerging trends in 2003?
The shift in consumer preferences from hard luggage to soft luggage, a trend we have been seeing over the past few years, continues albeit at a much slower pace. However, the discerning consumer is showing a shift away from low-quality products. This has also resulted in the growth of specialty luggage outlets offering a much better shopping experience. This trend has been established in the metros and mini-metros and will trickle down to smaller towns in future. What are the new retail service initiatives, consumer promotions and new product variants that VIP is planning to launch in order to promote its entire range of products in 2003?
Our thrust is on offering feature differentiation that add to consumer convenience. Take for example, our ‘Signet Easy’, which has a unique feature that locks the handle of the suitcase in such a position that no one can lift the bag. This product also has castors on the underside that make sliding it underneath a railway berth extremely easy. Another is ‘Seculink’, an integrated security chain mechanism in the luggage that does away with the need to carry bulky security chains around. Recently, we launched ‘VIP Breeze’ which has ball bearings to provide smooth wheeling. We have also invested in the VIP Lounge chain operated by us and VIP World travel chain through franchisees. We will continue to strengthen this initiative in future. We are targeting the youth and kids segment through two new brands—Footloose and Buddy. Backpacks, uprights and school bags are being launched and more lines will be added in the coming year. At VIP we believe that a strong brand that promises excellent value proposition and products that can deliver on that promise are the key to success. As a result, we do not actively indulge... [continues]
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