To be successful, you have to have your heart in
your business and your business in your heart

Retails & Distribution

Retail industry succeeds on innovation driven by consumer demand. It has become immensely challenging for retailers to keep pace with comparative pricing, assortments, placements, mark downs, etc as against the margin pressure, globalization drive, turnover growth, market share, increase footfalls, etc.

Unlike in the past when competition was not very intense; a retailer of today does not have great margin for errors and has to concentrate its efforts on three most important parameters of their business – Inventory, Customer & People.

It is highly imperative that today’s retailer starts the right kind of planning for its biggest and most important asset – “The Inventory” not only in terms historical sales data trends but also applying innovation in predicting fluctuating market dynamics and finding the right merchandise to capitalize on the demand.

“Knowing Your Customer” is no more an option but is a necessity. Retailers should have a deeper customer understand of what they buy, when they buyand how much margin can be applied. Aretailer must take a greater interest to improve the odds of getting repeat sales. Attracting a new customer costs five times more than keeping an existing one.

Employee productivity can have tremendous effect on one’s business. Simple measure like sales training, customer service trainings can surprise the retailers to find noticeable jump in their turnovers due to increased productivity.