Today I have a unique and interesting story of Mrs Chopra (Name Changed), her survival and transformation of her business.
Before I begin let me tell you Mr. and Mrs. Chopra were young couple and were in love before they got married, Mrs. Chopra is fashionable lady and had an excellent taste when it come to fashion and designs.
Today Mrs. Chopra Runs an Apparels chain after certain ups and downs in her life.
Mrs. Chopra had a tough life when her husband passed away and her daughter Simran was 3 years then. She utilized her education and started managing her husband’s factory. It worked out fine for a year or so but then it was real hard for her to manage the strikes and demands. So she looked out for buyer's and finally sold out the factory.
She then decided start business in of designer apparels what she know and loves around. Today she has her own store with the name of MCS (name changed).
All has worked well since last 20 years and now Mrs. Chopra has 6 stores across the nation and the business is good, but since last 1.5 years there is a dip in the business the foot falls are low and the conversion rate is at an all time low. This has led to diminishing profits and adding more worry to Mrs. Chopra, who is the heart and brain behind the business.
These points have disturbed Mrs. Chopra as she has tried all her wisdom and experience.
Oh but what a relief Simran her daughter whom she has send to US for higher studies is coming back, she will see her after 2 years. She is all excited to meet her after such a long time.
After a day’s rest Simran is with her mom talking all about her college and trends in US but looking her mom disturbed she asked if every thing's alright, Mrs. Chopra narrated the entire story of the Stores and she is unable to revive it and how confused she is.
Simran asked her about how is her IT Spend in stores.
Mrs Chopra smiled and shared what else other than a POS machine, CCTV, RFID and billing software.
Simran smiled back and asked certain questions
Mom What do you do for:
Managing your Inventory?
What do you do to retain your customers?
Do you sell online?
Do you have an analytical tool for your business to show the trend and visibility?
Do you note customer feedbacks and connect with them in a customize manner?
Mrs Chopra Got her answers in all the questions fired to her by Simran, she hugged her and told I got my answers young lady.
Well store and stories may keep on changing
The answers are the same Analysis and Visibility to business.
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