Addons Retail Private Limited opened its first retail chain store in 2006 in Mumbai, India, with the mission to expand at least 500 retail outlets by 2019. The core business of the venture was to sell fashion accessories and products to facilitate the impulsive buying urges of the Indian urban market.
On the other hand, the competitors, including both small mom-and-pop stores and kiosks and many other multinational chains who were already enjoying a stable position and were offering a wide range of products.
Founder and director of the Addons, after implementing the most appropriate strategies, had succeeded to create 80 retail stores and different shopping malls and high streets in a number of cities all over the country. Although, the company was on a track of rapid growth, but to meet the mission it needed the customer loyalty to support its aspirations. It had to obtain a balance between novelty and loyalty for its impulse fashion product.
The authors of the article, Neena Sondhi and Supriya M. Kalla are affiliated with an International Management Institute while Umashankar Venkatesh has affiliation with the Great Lakes Institute of Management.
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