Report on Market Survey for New Showroom Opening in Nagpur
Prepared by: [Your Name], Sales Executive, Rayjon Suits and Shirts, Pune
Date: [Insert Date]

Subject: Feasibility Report for Opening a New Showroom in Nagpur

Objective
This report evaluates the market potential in Nagpur for Rayjon Suits and Shirts, with the objective of determining the viability of opening a new showroom to showcase and sell our range of prestigious products.

Executive Summary
After conducting a comprehensive survey of Nagpur’s market trends, consumer demand, competitive landscape, and economic factors, I have concluded that opening a Rayjon showroom in Nagpur would be strategically advantageous. Key findings and reasons are detailed below.

1. Market Demand

• Growing Affluence: Nagpur has seen a rise in income levels and lifestyle upgrades, particularly among young professionals and business families who seek high-quality, fashionable attire.
• Preference for Premium Brands: Consumers in the area are increasingly inclined toward purchasing premium and branded clothing, indicating a suitable demand for Rayjon’s upscale product line.
• Festive and Cultural Influence: Nagpur’s vibrant festivals and cultural events create a regular demand for formal and semi-formal wear, which aligns well with our product offerings.

2. Competitive Landscape

• Limited High-End Competition: Although there are several apparel stores in Nagpur, the presence of high-end brands specializing in suits and shirts remains limited, providing Rayjon with a unique position to capture the premium segment.
• Gap in Quality and Customization: Many consumers expressed dissatisfaction with the quality and fit offered by existing local brands, demonstrating a need for our high-quality, tailored suits and shirts.

3. Strategic Location Advantage

• Economic Growth: Nagpur’s position as a growing metro and trade center in Maharashtra makes it a promising location for expanding retail outlets.
• Central Business Districts: Key areas such as Sitabuldi and Dharampeth offer high footfall and target audience demographics, providing an ideal location for the showroom.
• Accessibility: Being a centrally located city with excellent connectivity, Nagpur is accessible for neighboring towns, which can also drive additional customer footfall.

4. Customer Feedback and Preferences

• Through surveys and in-person interviews, customers expressed enthusiasm for a local Rayjon showroom. Many customers, familiar with our brand’s reputation in Pune, stated they would prefer a Nagpur store for convenience.
• Customers are particularly interested in product ranges that include formal business attire, festive collections, and custom-fit options.

5. Projected Financial Viability

• Based on the estimated footfall and anticipated average spend per customer, we project steady growth in sales figures. With a suitable promotional strategy and prime location, we can achieve profitability within the first year.
• Special promotional offers during the showroom launch would enhance brand visibility and attract first-time customers.

6. Recommendations

• Proceed with Establishment: Based on the favorable conditions and promising market potential, I recommend proceeding with the establishment of a Rayjon showroom in Nagpur.
• Suggested Location: It is advisable to explore rental spaces in Sitabuldi and Dharampeth due to their high customer traffic.
• Promotional Campaign: A targeted promotional campaign, highlighting product quality and customization services, would enhance our market entry and brand recognition.

Conclusion
The survey indicates that Nagpur holds significant potential as a profitable market for Rayjon Suits and Shirts. Given the increasing demand for premium formal wear and the limited presence of direct competitors, establishing a showroom here aligns well with our expansion strategy.

Submitted for Review
[Your Name]
Sales Executive, Rayjon Suits and Shirts