Supermarkets need to Transform their business model to ensure that it is tech enabled and future proof
As of now (22nd March 2020), when there is an Island-wide curfew imposed to ensure “social distancing”, the one common point we all need to visit it is the supermarket. Even as food retailers address today’s short-term challenges, they should take the time to rethink their business models to become more efficient—and, therefore, less exposed to shocks:
The use of Tech becomes very important at a time like this.
Stores. Can you make your store model cashless or virtually cashless? Can you replace the cashier-based model with a seamless no-checkout model? Are you using data to measure on-shelf availability in real time? Are you automating replenishment?
Supply chain. Are you embracing technology sufficiently in warehousing and transportation to reduce the burden on labor? Have you adopted machine learning in your forecasting so that you can spot abnormalities fast and adjust immediately?
Merchandising. Are your merchants equipped with the technological tools to run their categories “customer back” and remotely? Have you diversified sourcing sufficiently to reduce the risk of future shocks? Are you looking at strengthening the local industries ? now is the time to build local streams and also give Artisans a chance to promote their goods.
E-commerce. Can you accelerate investments in a seamless online-to-offline experience and proactively shift spending to your online channel. For this we need to improve the current online sites and purchase experience. I for one have found our present online sites to be difficult to order from. The online channel to server the customer should be sustainable over the long term?
Analytics are key. while you transform your corporate office into a flexible, remote-working team supported by tech and data? Are your systems able to handle the increased load and cyber security issues that come with distributed remote work?
Pointers To reduce the number of visits, to create Social distancing, to minimize the panic.
1. Encourage the customers to pick and order on-line, so that they can pick up at the groceries, in the form of a drive in.
2. Educate customers to create their on-line account via whatsapp and SMS notifications.
3. Broadcast the opening and closing times to provide a sense of encouragement.
4. Use the past purchase Analytics to;
5. Provide and Create “Bundle purchase packs”, with the fast moving items.
6. Isle management is critical. Storing all the flour, sugar, pulses close to each other does not solve the problem. They need to be spread.
7. Self service kiosks, are also popular world-wide. Can we introduce it to Sri Lanka.
IT Professional
5 年Good article! All these good in theory.. countries that have implemented what you have noted are suffering severely at the moment. France and Italy cannot manage the demand today in supplies, where they have the best in class tech savvy. I think it’s better to give a break and re-think, growing some vegetables in your garden, stick to basic hygiene... etc
Mastering Marketing Management with Financial Precision
5 年Ramesh Shanmuganathan You could do something with Keells Online portal by creating a simple hamper packs comprising of dry rations, vege and meats to be preordered and picked up. This way you will eliminate large queues and the shortage of food supply. You will also become a trendsetter in this new initiative. You may think how to publish the availability of such service to public. ? Simply talk to Radio and news channels or any other media that is publishing current status updates. Hope this make sense.