How to Reset Your Retail Business for Profitability

The current retail scenario faces multiple challenges including supply chain disruptions and higher raw material costs – and consumers are likely to reduce spending on discretionary products. This has affected growth and profitability of retail organizations in India. Hence, retailers need to review and reset their core offerings and go for Total Enterprise Reinvention of their businesses.?

In this article, Accenture’s Manish Gupta and Kavitha Rao talk about adapting to a changing landscape by taking a series of resets – including transforming Cost of Goods Sold (COGS) and Selling, General & Administrative expenses (SG&A) – focused on using data and technology to improve product offerings, sourcing, channels, fulfillment, and skills. Read more

News & Views

How Digital Natives Can Maximize Return on Ad Spend (ROAS)

In today's fiercely competitive retail landscape, generating profits is the name of the game. With shrinking margins, companies must get strategic about their offerings according to an article by Accenture’s Manish Gupta and Neha Kumar. Accenture's Digital Inside Sales (DIS) offering goes a step further by assisting organizations with the seamless integration and scalable personalization of ad adoption. This concept has been effectively used in a well-known Indian online store. Read more

Technology is Reshaping the Future of Indian Retail

With the retail sector growing at an impressive CAGR of roughly 13%, Kavitha Rao says retailers in India are facing many challenges such as evolving customer behavior, complicated supply chains, and macroeconomic fluctuations that can impact profitability.

Indian consumers have been leading the charge in adopting digital technology. This has led to considerable changes in consumer behavior, causing a shift for retailers to adapt and modify operations to meet the evolving needs of their customers. Read more

Bringing Online Marketplaces and D2C on the Same Network

At MMA India's ‘Digital Commerce Dialogues: Decoding ONDC,’ Accenture's Deepak Bakshi moderated a session on key perspectives from potential sellers on the Open Network for Digital Commerce (ONDC). Bakshi got the panelists to discuss how the sellers and retailers use ONDC as a growth platform and utilize its?shared ledger technology (blockchain) to improve traceability of products – and also benefit from an improved supply chain management across retail, B2C as well as B2B transactions. Watch the session video

Welcome to the Future of Beauty: Digital, Connected, and Tailored

The future of consumer beauty is bright, shiny, and oh-so-digital! As per a recent Accenture report, global digital spend for related industries could reach up to 40% by 2025 in key markets. Accenture’s Sameer Amte comments, thanks to changing consumer preferences and innovative engagement models, companies are acquiring smaller brands to offer tailored products and services delivered straight to the door. He further adds digital adoption has accelerated especially with the rise of beauty tech services that prioritize customer satisfaction. Read more

Unlearn and Relearn: The Future of Unified Retail

?At the recent Retail Leadership Summit, Kavitha Rao spoke about the future of retail in India, discussing the impact of combining online and offline sales, and highlighting this requires merchants to rethink their marketing strategies, supply chains, and customer experience journeys. She further added that as many companies are yet to fully embrace a unified approach, and to achieve sustainable growth and profitability, a complete transformation is necessary. Watch the summit recording

Conquer the Beauty and Personal Care Industry with Technology

Recently, the shift from in-store to online purchasing has changed customer requirements and expectations. Sameer Amte points out that customers want on-demand delivery of personalized goods and services. Customers are now asking for customized hues, finishes, and smells in the beauty and personal care industries to match their distinct needs or personal preferences. With cutting-edge consumer-focused technology, brands are developing a seamless, distinctive, omnichannel shopping experience. Read more

Accenture is ready to help as you begin to re-imagine your business. If you’d like to know more about how we can partner with you in your digital transformation journey, please feel free to contact us. Thank you!

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