India’s retail story: 15 years on still groping in the dark
It’s been more than 15 years since the start of modern retail in India and by now, it should have attained maturity. Unfortunately, it’s nowhere close to the global standards. This could be because of lack of skills or expertise, but it could also be because the Indian market is so big that major players […]
CRM (customer relationship management) is more than technology
Retailers understand in theory that customer relationship management (CRM) is the foundation of profitable retailing. Key aspects of this are customer value, customer care and customer retention. Most modern retailers have formally adopted loyalty schemes, and consumers are likely to have a collection of loyalty cards in their wallets. However, loyalty is an emotional bond, […]
Retailers need a consumer-centric business strategy
The current global economic slowdown seems to be creating panic across industries, no less in retail. Like all other sectors, retailers also seem to be working on controlling operational costs.The downturn has given them a great opportunity to enhance basket value and the shopping experience of consumers Recruitments are frozen; organisational structure and business strategy […]
A smile can make all the difference
Store staffers should be more focussed on their customersThe decision by the Jet Airways management to sack thousands of customer-facing staffers justifies the perception that the Indian service industry is driven by sheer numbers rather than competence and aptitude to deliver quality service to customers. When service sectors face growth challenges, companies begin to focus […]
Missing in modern retail shops: Convenience
Better parking, faster check-outs and smart floor managers are an imperative Call it good fortune or coincidence, but almost every brand is represented in my neighbourhood — Food Bazaar, Spencer’s, More, Reliance Fresh and Subhiksha. So I decided to hop across to each one and check out the ground reality. And here is what I found […]
Managing more consumer touch points will make a difference
Most retailers only manage 4 or 5 of these touch points, creating a huge opportunity for competitors to address the unmanaged points. As modern retail gains ground in India, brands have begun competing with each other and retailers have begun putting aside budgets for brand building, CRM implementation, building consumer experience in the store and […]