May 2024 | Business Highlights

We kicked off summer with exhilarating conversations with retail leaders and tons of pioneering advice on the future of global retail ??

Let's dive into this month's updates and unpack these insights for you ??

But before that, let's get started with our monthly brain-buster! ???

Q. What % of India's population earned more than 1 crore annually in 2023?

a. 0.20%

b. 0.045%

c. 0.015%

d. 0.55%

?? Find out here

STORY OF THE MONTH

Experiential Retail Insights: Fynd x Reliance Retail

Recently, Ragini Varma, our CBO hosted a fireside chat with Anand Thakur, CPTO of Reliance Retail at an event in Mumbai.

Here are the top takeaways:

?? Omnichannel implementation challenges: retailers are hesitant to integrate omnichannel strategies due to disparate systems for ecommerce and physical stores and the costs involved.

?? Importance of customer experience in beauty retail: technologies like smart mirrors and fragrance finders are enhancing customer experience by offering personalized and interactive shopping experiences.

?? Strategic investment in omnichannel: successful implementation includes qualitative and quantitative research, understanding domain-specific needs, and focused investments in data management and technology integration.

??? Emerging technologies in retail: 3D printing, IoT, and AI are offering personalized products, enhancing supply chain efficiency, and improving customer interactions through advanced imaging and product descriptions.

??? Consumer-centric experimental retail: To be effective, it must involve deep research into customer behaviors, ensuring that new technologies and implementations meet consumer needs and enhance their shopping experience.

Read the blog for more insights!

?? Read Now

BRANDS & PARTNERSHIPS

Welcome aboard!

With the support of our Growth Managers, these brands have successfully launched their presence across several channels.??

Here's to a prosperous partnership! ??

PERFORMANCE SNAPSHOT

May 2024

This table is a historic view of our monthly platform's performance, keeping some of the key stats in mind.

RETAIL RADAR

Accelerating Retail at Scale

Farooq Adam, Co-founder of Fynd, shares insights on the rapid growth and transformation of India's retail sector, projected to reach $2.3 trillion by 2030.

Several changes are driving significant advancements and opportunities within the retail industry, positioning India as a dynamic global player.

?? Read Now

SPOTLIGHT

Patron of the Month

This month we’re spotlighting Gajendra Singh for his adaptability and resourcefulness at Khadims, especially during this summer heat.

With fewer store walk-ins, Gajendra made sales by reaching out to customers via WhatsApp, offering home delivery, and effectively using the collection-sharing feature of Fynd Store OS. His proactive approach and initiative set a new standard in customer service and sales performance.

Let's give a big round of applause to Gajendra Singh, the “Sales Pioneer” for his exceptional effort and dedication!

MEME CORNER

Solving the Inventory and Order Conspiracy ???♂?

Ever feel like you're solving a conspiracy theory when dealing with inventory and order management in an omnichannel setup?

Just like our friend here, mapping out the flow of inventory and orders can sometimes feel like connecting a thousand red strings on a corkboard. Between the endless spreadsheets, countless software systems, and the ever-changing customer demands, it’s a wild ride! ??

And if that isn’t enough–picking, packing, shipping, and returns add another layer of complexity ??

But fear not fellow supply chain warriors! ??

With the right strategy and robust tech stack, Fynd Commerce Platform can help you master the art of omnichannel and deliver a seamless experience to your customers.

So, are you ready to tackle the chaos and emerge victorious??

?? Get in Touch

READING LIST

On Our Bookmarks

Why courting aspirational luxury consumers still matters, McKinsey: Luxury brands focus on HNWIs to counter economic challenges, but aspirational luxury consumers are also important. ?? Read More

Quick commerce is diversifying fast, ETRetail: Companies will soon realise that with big orders come big hurdles as 10-minute delivery expands to include higher-value products. ?? Read More

How AI is revolutionizing marketing in 2024: Top 5 Trends, Forbes: The adoption of GenAI to know more, do more, learn more and achieve more is amplifying the potential of marketers. ?? Read More

That's all for this edition!

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