The grand Kerala shopping festival is a recent initiative by
the government of Kerala to create a second shopping season in Kerala. There is
an existing shopping season during Onam season when companies flood the market
with discounts and offers. Now the government is trying to create another
during the Christmas season to boost the economy. The Kerala economy has a
great dependency on the service sector and consumer market. So the concept of
boosting economy with a shopping festival is good, in fact brilliant. But just
announcing gifts and mega prize for the shopping alone won’t do the trick. As a
keralite I think we have to do more to improve this concept and make it really
useful for both consumers and the entire economy.
I would like to make some suggestions on the same:-
1.
Promote Electronic currency:-
We can use this season to
promote electronic cards (credit or debit) for shopping. May be government can
give some tax cut for using cards for shopping above say 10000 Rupees (or it
could be any other method). Promoting the use of cards among consumers will
bring more transparency in billing and reduce the flow of fake currency. It may
not show direct impact but still, over years we can make more and more
transfers through the bank accounts and I believe it will help to bring many
advantages to the economy.
2.
Make it more entertaining:-
As the name shopping festival suggests it should be moulded into a
festival environment. It should not just end with prizes; we will have to bring
in more entertainment value. The treasure hunt game is conducted successfully
in many Kerala colleges along with some tech fests to make it entertaining. We
can take some inspiration from them. Say if we can design a statewide treasure
hunt event with participation of shopping malls and public that would be
interesting. And we can bring in more cultural events along with this to make
people more active.
3.
Conduct some international events:-
We
can plan some international events in connection with shopping festival. We are conducting many film festivals,
schedule it along this period .Such an event can bring in more tourists and
media attention. Remember the effect we had when the Argentina football team
toured India. So there are a number of options in this area.
4.
Change the prize model:-
Our
ultimate aim is to increase economic activity in the state. So prize given for
such an event should help the process. Now instead of directly giving gold or money,
gave shopping cards with specific amounts as a prize. They will have to spend
it on retail purchase and we will get a chain effect directly on the economy.
5. Promote Kerala’s own business models:-
Kerala
has a unique business model in gold loan and selling sector also financial
products like chities are also a feature of Kerala. Ensure the growth of
companies in such unique sectors. Already some Kerala based gold loan companies
have attained national and international attention. Government should frame
policies to help them to increase the growth. Growth of Kerala based companies
will help youngsters to build a better career.
6.
Make use of internet resources for promotion:-
Social networking sites and other online resources can be used to
increase the awareness of this
initiative among youth. Kerala has gotten a high rate of literacy and great
presence in online communities. Online promotion doesn’t require large amounts
of money. So we can get a low cost advertisement for the festival.
7. Participate educational institutes and other
organization:-
Kerala has
got some premium institutes like IIM-K.
If we can bring in their management skills to this event, it will be
great. It will provide a great exposure for faculty and students of IIM-K and
at the same time it can help state government to bring in some professional
management brains to the event. During the workshop conducted for ministers by
IIM-K, they said they were looking forward to provide more useful services to
the state. Also they have become trend
setter among IIM’s by reducing fees and
increasing number of women students. So I believe they will be happy to take this challenge.