Today's blog is about a general observation, to project the opportunity for small and medium sized retailers.
Before we start please read the below observation and continue reading if you agree:
- Indians on an average spend more than half of their expenditure on FOOD.
- Organized Retail has very - Very less share of FOOD sales in India (India is beyond Metro's as well).
- Still Maximum Indian Populations lives in Tier 2, Tier 3 and rural areas.
- The maximum portion of sales of Big retailers is apparels and life style products maximum of which comes from metros and High Income group individuals or earning singles or DINKS (dual income no kids) and so on.
|Organised Retailers are surrounded by SBRs|
The Point to make is, it’s not all about the Big Retailers, but it is about our own store based retailers (SBRs) the new avatar of mom n pop shops & other not too big stores which are targeting the masses of India.
Yes it is the new avatar. They are adopting technology, how many of us have seen a CCTV or a small machine in such stores 5-10 years back, very few, but now they are quite common, they understand the use and importance.
As pointed in my earlier posts http://retailgraph.blogspot.in/2013/04/every-skyline-has-its-own-special-story.html, with time mindset also changes and it must change.
SBRs can make a difference to themselves by changing their own mind set. Your biggest obstacle might be closer to home than you think or it could be you yourself. So mindset to adopt change for good should be carried.
|Change is for good. RetailGraph makes it Possible|
In today’s world, the traditional store-based retailers (SBRs) need to employ analytics to understand their customers and most importantly themselves.
RetailGraph Analytics help in many ways:
· Better demand management
· Better ROI by carrying the right assortment and balancing the inventory with demand
· Profit maximization by optimizing pricing and other strategies
· Running festive / time bound promotions and schemes
· Identifying and retaining their best customers.
As we all knwo the competition is no longer the store across the street or the neighbourhood store, but is as far as on web.More products and lines are being introduced month on month. Only analytics can support. As the saying goes god helps them who helps themselves, so help you business with analytics and analytics will help you back.
Changing Time--changing Customer---So adopt Change & move on
The opportunity is there for the one who acts and acts fast. A whole pie is waiting for you to dine upon. The retail landscape, ever-expanding and changing, shaped by new-age competition defying traditional retail channels and practices, with growing online shop, has shaken many retailers out of their inertia. Worried over sustaining the competitive advantages to survive, they slowly turn to information technology and analytics
The time is an excellent example of change with its ever changing and never stopping nature, with time things change for good of course, but for that they would have to move beyond their own traditional mindset, to develop a robust understanding of importance of analytic.
RetailGraph & Retailg e-store as your analytic friends help you in following ways:
· Trust on accurate information for strategy
· Track customer preferences and buying pattern
· Plan Marketing Strategies
· Maintain hassle free and clean accounting
· Engage with your customer
· Stock Analytics
o Slow moving
o Fast moving
o Dead stock etc.
· Fully Menu driven and user-friendly
· Setup your own online store
· Customize your store-your logo, products etc
· Translate into any language
· Reach millions of customer
· Multiple payment options
· Experts marketing Advice
· Generate More income
· 24x7 business expansion
· New features can be added
So the conclusion is, adopt change its for your own good, and let us help you add wings to your business through RetailGraph- Giving Power of Analytic to your Business
Hope you liked the blog, do share your comments.
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