–Contributed by Vivin Wason

In India for a long time large companies have localized their product offering. Instances in this domain can be seen widely in rural India. From introduction of sachets to banks such as ICICI and Citibank launching biometric ATMs which have fingerprint authentication and voice-enabled navigation, it’s all about providing solutions once you have understood the customer.

But, localization has taken a new form in the world of retailing. In Newyork a local retailer who procures organic food locally has been leveraging greatly on the local acceptance for his products. The local retailer’s main focus is to connect the urbanites with the local farmer, much like the local ‘mandis’ we have in India. The store also houses an in-store cafe offers breakfasts, sandwiches, smoothies, juices as well as daily and seasonal specials, all featuring solely fresh, organic products.

Shelf space is a valuable real estate for retailers with the cost of commercial locations sky-rocketing, reliance on local product offerings by sorting tie ups with local manufacturers becomes more important. These manufacturers are more aware of the local tastes and hence offer products which appeal to the local populace, which is currently not the case with a number of organized players in the supermarket format.

Retailers must act quickly to profit from first-mover advantage and establish their brand name through a local approach. Retailers must understand the local taste and offer products or services which are either produced locally or have a wide local acceptance