Retail 2022

Indian Retail has reached to an interesting timezone. All the modes of the sales channel will start and end in the retail industry. Ecommerce will always be a subsidiary of Retailers. Every retailer is trying to get the maximum pie of customers for their brand. Consumer experience will dictate harder to the retailers. Their return policy, money refund policies, merchandise replacement time period, Quality of merchandise, value proposition on pricing, speed in payment acceptance with accuracy, and visibility in the market will decide who will win.

STUC - show that you care is a future. Cost optimization and merchandise mix optimization will be another key to building a business in India. I think eCommerce will also be considered as a refined process to interact with consumers at any point in time and solve their problems instantly. In my view, the revenue-sharing model in real estate will be the next key push for even small retailers. Online retail and online offices will create a new dimension that may force the real estate to ease out the rental pressure by agreeing to a revenue-sharing model basis the size and format of the store. Retailers love to have large teams to manage consumers can be managed through online and offline + process led online solutions inside the store. The retail running cost has to come down for better profitability. Identification of good cost and the bad cost is now of past. We should think of cost generating sales vs cost not yielding any sales. More thrust and focus on buying and presenting newer products to the consumer is a challenge and will play a very important role in building the brand further. With the ease of doing business, smooth checkouts, and return policies I would say customer stuck-up policies should be very attractive. Obviously blockchain, VR will be the next happening solutions in the industry. Payment gateway companies and companies selling online data control measures by the Government in the form of some policies framework may again raise a question of data privacy. Hope it should take time. GDPR if implemented in India then the ball game of many online companies and payment gateway companies may change. We will have to relook with a fresh lens then. Written by Gaurrang Govind