Customer Is Dictating Terms To Business.....Its No More A Retailer`s bastion
We are a shopkeeper Nation.Highest Density Of Retailers. Still No Scale ---Reason---Diversity.
Consumption---Not seen in totality.The changing consumption neighbourhood---India---Home.
E-Retail is Bridging the gap of fragmented Supply & Demand.Retail is moving from Unorganized to Organized to Personalized.
Retail Business -- 1% Strategy & 99% execution
There are two India Now:-
One India > 37 Years of Age -- Not conversant with E-Retail, feel like an outsider.And Second India < 37 Years of Age -----Emerging-----Are we ready to address it??
Business is moving from B2C to C2B----(<37 Age Group)---The New Perspective
The customer is dictating terms to business now, it is no more a Retailer`s Bastion now. They want shopping anytime & anywhere. So no matter how big a company you are and how much you keep boasting of your greatness, what all matters is how can you make a unique selling proposition to this customer on his device of choice which is going to be his handphone in coming times. New mantra for businesses should be Mobile First now.
Retail will be merging with E-Retail so it has to be in your plans whether short-term or long-term but its not affordable to avoid it now. E-Retail is just a channel to reach the final customer. At the end it all boils down to -- what you are going to do for your customer?? We can postpone a Business Strategy but can we postpone the customer??
The is one more perspective to it that all these channels are going to co-exist in India because of its diversity and fragmented state.Even Modern Retail is a new concept in India, only 8% of total retail pie of $500Bn.And we have observed in last 8-10 years that these Brick n Mortar Retail Model has not taken over our Mom n Pop stores yet. They have not only survived but groomed as well alongwith the infrastructure. The fear is not going to subside but its a difficult reality in coming future in a Nation like India.Attractions like Cash On Delivery is a KIRANA idea only ----> Core is customer service and that is going to be the primary motive for every Business.
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