Why Should One Plan to Start a Retail Business in Noida?

Noida alongside Noida Expressway and Greater Noida is one of the fastest-growing retail markets in India. Proximity to the national capital, a population that is largely skewed to young demographics, lowered rates of real estate, and unprecedented growth in infrastructure, makes the metropolis of Noida, a thriving retail hub. Property prices in Noida are generally lower when compared to prominent markets in Delhi and Gurgaon. This has further resulted in the city being the preferred place of residence for many households in the Delhi NCR. 

The metropolis of Noida has numerous popular malls such as Wave city center, DLF mall of India, Galleria Mall, Paras One33, and much more. Besides, it has multiple high street centers, food complexes, gaming zones, and shopping centers making retail and shopping a very enriching experience in Noida. 

Like other major cities in India, e-commerce is thriving in Noida. Meanwhile, after the pandemic people have largely realized that the real-time experience of brick & mortar shopping can’t be replaced in the real world. This has once again resulted in a revival of physical retail with footfall growing significantly. This has also renewed investors’ and retailers’ interest in the Noida market with an extensive pipeline of Grade-A quality retail space. 

Meanwhile, Noida will soon be a party to its airport, namely the Noida International Airport, NIA. The work is in progress and the airport is expected to start operating by the end of 2024. Once completed, it will manage 12 million passengers yearly. The mega project which is built in Jewar is expected to give a facelift, especially to the Greater Noida region and the Yamuna expressway. It will invigorate investments in new hotels, malls & hypermarkets, high streets, shopping complexes, food-cum-entertainment zones, pubs & fine dining restaurants, and much more. 

Factors Driving the Noida Retail Markets in India

  • Growth in Investments: Noida is one of the favored investment destinations in India. During 2016- 21, Noida received a total investment of USD 8.96 billion. Swiss Retail giant has recently announced an investment of USD 750 million which will include retail centers, hotels, warehouses, etc. This is IKEA’s biggest investment in India. In proximity to the international airports, new planned business clusters for medical devices, electronic appliances, textiles, etc. have been announced. 
  • Major IT/ ITeS Catchment of India: Noida in recent years steadily risen to become one of the fastest-growing IT markets in India giving stiff competition to Hyderabad, Bangalore, and Gurgaon. Major IT MNCs such as Google, Accenture, Microsoft, TCS, Infosys, Sapient, Paytm, Red Hat have large offices and service centers in Noida. Likewise, major research, consulting, and analytics companies also have a foothold in Noida. This has resulted in a large educated and affluent workforce driving demand for modern retail. 
  • Proximity to national capital: Noida is situated adjacent to the national capital of India. Through the Noida-Greater Noida expressway, the region is linked to Delhi. Through the DND flyover as well, it is connected to Mayur Vihar in Delhi. Closeness to the national capital naturally makes it a favorite destination for indigenous and international retail houses to flourish. 
  • Unprecedented Investments in Infrastructure: Unprecedented investments in infrastructure in recent years have further pushed growth in Noida’s commercial sector. Today Noida has one of the highest livability in India due to its extensive metro network, broad roadways, carefully prepared business clusters, a slew of flyovers & bridges, and much more. 
  • New International Airport: There is a new international airport in the Jewar region, which once completed will be the largest airport in India. The international airport is built with an aggregate investment of USD 4.1 billion. The positive impact of the airport project will cascade in the nearby region and accelerate growth in real estate, retail, manufacturing, hospitality, and IT industries. 

How to set up a Retail Business in Noida

Now, if you are planning to begin a retail business here, then you should know what is best for your venture. 

Discover your Idea: It all starts with the idea of beginning a business. If you plan to enter the retail business, then you must decide whether you want to enter the lifestyle chain or the food & beverage business or the grocery retail. Is your plan to sell existing products at low prices or want to introduce the audience to international brands, etc.? 

Evaluate your Product and Audience: Now that you have clarity on what your retail business will be all about, it is time to begin planning for the products and audience you want to target. Product research includes quality, price range, affordability, and usage; depending on the audience utilizing it. Your business idea is something that might seem exciting to you but is not necessary that the audience will like it too. Thus, surveys and research will be a great way to conclude what products and audiences will be an apt approach for your business’s success. 

Cost Calculation: Capital matters a lot, especially when you plan to begin a business in a city like Noida. After you have concluded what products and audience will be on your target, it is time to make calculations about everything from zero to a hundred. From leasing/buying the space to crucial equipment to labour, transportation cost, bills, monthly salary of the staff, stock of inventory, etc. All these and many more such costs need your consideration so that you get an idea about how much money you need to meet all these costs plus your profit. 

Sorting the Shipping Strategy: The products on display in your retail business need to be sourced from somewhere. Now, the task is to get them at the best price and in superb condition. This can only be achieved if you have a well-planned shipping strategy that costs you the minimum yet offers you optimum benefits. 

Curating a Brand Strategy & Identity: To flourish in an already existing and quite successful retail business can be a tough & cumbersome task. However, one can succeed with a solid brand strategy & identity. A successful brand strategy to succeed in a competitive retail landscape such as Noida will require seamless usage of outdoor, print, and digital media. An Omni channel strategy can be instrumental in the right branding. 

How The India Watch can help?

The India Watch is an India-centric market study and feasibility consulting company. Retailers, investors, and businesses which are planning to expand or start a new retail business in Noida can partner with professional advisories such as The India Watch to get access to valuable insights, actionable data, and tailor-made research studies.

This will enable businesses to make informed business decisions, better manage market threats & contingencies, and capture large market shares fast. The range of services will include: 

  • Prepare feasibility studies and business plans for new F&B, high street retail, hypermarkets, etc. in Noida.
  • Prepare and execute market surveys, retail audits, F2F interviews, focus groups, etc. for existing and upcoming retail houses in Noida.
  • Offer tailor-made strategic and market intelligence to retail businesses. The scope includes but is not limited to trend analysis, customer assessment, competitive intelligence, value chain analysis, pricing inputs, distribution strategy, regulatory insights, etc.
  • For international retailers and ventures, we can prepare end-to-end India market entry plans.
  • Location mapping and analysis to find the most suitable site for the retail client.
  • Assistance in scouting offices, retail sites, warehouses, etc.
  • Cash flow projection, income statement preparation, profitability analysis, etc.
  • Help in preparing corporate presentations, investor decks, investor fact sheets, and other related collaterals.
  • For any further assistance, pls mail to info@theindiawatch.com or paritosh@theindiawatch.com
@ Copyright 2023, All rights reserved.