Technewsky: retailer

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Tuesday, 9 January 2018

What is the need for supply chain management in retail business?

04:07:00 0
What is the need for supply chain management in retail business?
The retail sector accepted different challenges in 2018, including digital transformations at the government rules, modern technology wise and also in terms of working capital for visibility. Success in 2018 and going, will depend majorly on reputed brands’ with online retailers’ ability to manage with their respective customers

The Indian retail industry, which accounts for over some minor part cover of the country’s GDP and around 8 per cent of the employment, has shown many opportunities in 2017, exclusively with the entry of different brands and new experts.

A massive grow in brands, stock keeping units (SKUs) and digital transactions in the last decagon has increased the opportunities and also, thrown challenges in terms of space required, working capital availability, trackability regarding consumers, transactions and taxations. The current variations of change in taxation has developed a short-term uncertainty.

Customer retention and purchase, exceeding the regular and walk-in customers, continues to be another big challenge along with boosting cost of manpower and limited show of retail assistants. The wanted and demand has passed from unskilled labor model to semi-skilled and skilled labors.

Most amazing things, lack of use of technology has attended to humongous amount of badly in online retail, also leading to grow in leakages, ending up with shrunken profits.

 We need to focus on solutions, anticipating the upcoming markets and how the various ecommerce or online industry should be riding the newer waves.



Trends in 2018 and Moves:

Technology is giving a best Opportunity to Engage with Consumers Directly

Technology is growing at a faster pace than what was imagined earlier. The brands and retailers who are able to engage with their customers and stake holders will be successful. Both Online marketing and offline marketing are growing faster. Measuring the RoI is possible only if the engagement is percolating to end consumers.


Omni Channel Continues to Boost

The growth in retail is understandably visible in both offline and online. One can’t afford to ignore one and target only on the other. Most brands counting that of FMCG should be able to help their consumers on both channels. Beyond this, they should be able to know the consumers, their needs and grievances, irrespective of the channel that they have chosen to shop with.


Creating an Engaging Experience is Remarkable

Engaging consumer’s experience and brand engagement is important. Customer engagement is moving to be the next biggest challenge. Especially when the market is highly scattered and many business deals are happening at the multi-brand outlets, brands and retailers should be able to know the technology and avenues that could help them to identify their consumers/customers.

Personalization is the Key to Brand and Retail Success

The crucial of personalisation in retail, cannot be supposed, to be a need only in online stores. Personalisation is about significant a customer well and able to project their wants and expectations to allow the engaging experience. Personalisation should be expend to offline retailing too. While online transactions are increasing, it is also true that large portion of the retail still happens via offline. Even online-only stores are opening up more offline stores. Knowing the customer at the point of sale is close to build an exciting experience.


Social-connect-share-buy Trend

Customers are more social and their judgements are really boosted by social community. Brands should be capable of being connected on social platforms, share their products and should create it possible to tread in customers to purchase then and there. The experience is further improved by delivering as rapidly as possible by connecting all offline stores that sell those products. A brand/retailer is now capable of making these outlets virtually a mini warehouse. Thus, being able to deliver from the nearest store, quickly, will delight the consumers.


Small to be Successful in India and Small is Back Globally

India is control by small format stores. Many of them, originally, were worried about getting wiped out due to many reasons including the threats from online and large format stores.

But the trend throughout the world is demonstrating the reality that small format are back and will showcase success. Even large formats are opening small formats along sides, to be in the competition.

Convenience, smaller quantities and repeat buying habits along with the awareness of fresh and new models are increasingly becoming the reasons for smaller format trends coming back.

Success in 2018 and moving, will dominate mostly on brands’/retailers’ capability to engage with their separate consumers. The right-thinking brands and retailers will target and put efforts on developing a future by adopting technology that guides in integrating in-stores, mobile-stores, cloud, analytics and social media in a unified technology to boost customer engagement.


Friday, 17 November 2017

12 Trends in the E-Commerce Industry (Online Retailer Shop) In Future

03:54:00 0
12 Trends in the E-Commerce Industry (Online Retailer Shop) In Future
People have started looking at Online shopping in the current years very seriously. If you belong to the e-commerce business, you must know the current trends. Go with the flow to achieve success. Scheme to enlarge your business care the 12 trends in the e-commerce industry given below in mind.



1. Website Contents

Depend of any e-commerce business recline on the stuff of the site. Content that offers the wanted detail to make buying decision enables the customer to stay connected with your site.

During traditional shopping, we prefer visiting stores that has customer friendly sales professionals who give more inputs about the product. The website takes that place in e-stores.

Make sure to provide unique content with all details required to make the online shopping bother free. Also, absorb live chat options in your website to attract more traffic.

2. Payment Options

Most of us want to purchase things. But when it available to paying all of us search for more options. To boost your E-store sales just be workable on various types of payment methods. Include Apple Pay, PayPal Express, Credit and Debit card payments. Separately from adding multiple alternative create sure to select the user-friendly payment gateway.

3. Shipping and Delivery

OK, had a great online shopping knowledge with pretty content and secure payment options. What next? Shipping and delivery. One of the keys to success in online business may talk about rapid delivery. But, do you know? 58% of online buyers add different items to their cart if free delivery option gets tagged to that item. It does not stop there, every 83 consumers out of 100 buyers don't mind waiting for long to collect their products if the shipping is free.

4. Return Policy

Even purchase journey does not get over after delivery. In fact, it starts after that. Pondering, how? Yes, after receiving the product people look at the return policy for various reasons. To stay ahead in your business in 2017 you have to construct yourself to absorb the transport cost not only for delivery but also for returns. People will get enticed to order online on your site if they can replace it without charge after fetching at the item in person.

5. Customized Shopping

The digital store owners have concur that personalized shopping attracts more consumers than general shopping. Without any doubt, this swing will tend to grow in the coming years.

Boosting your online portal with advanced technology. Provide more brands and more options to select a product. Customize the loyalty programs. Understand that all customers never think alike. Get their pulse right to sell your product.

Are you aware? Your competitors started moving ahead of this trend. Don't wait to start planning to customize the shopping needs.

6. Videos

You Tube videos had got its name in 2016 for e-commerce shopping.

2017, the focus has shifted to using videos on-site. Products that contain video explanation had more conversion rate. Case Study performed by Tassimo shows that the conversion rate reached 74% and 340% customer engagement with on-site videos.

7. Voice Search

Voice searches have picked up in serious online business. No longer voice search act as a fun tool. Make use of voice search on your site to boost your sale effectively.

How to benefits from voice searches? Optimize the content on your website in such a way it appears in Google search results. This helps customers to find a product by just talking with Google's voice search provision.

Look at the Google's research report confirming that voice search contributes 20% of search requests.

8. Mobile Apps Shopping

Needless to say, the mobile shopping has started galloping PCs. Just click this to know more. Keeping in mind as an online retailer not only create a mobile responsive site but also combine mobile wallet functionality hooked on your store.

E-commerce giants such as Amazon, Apple, JD.com, Walmart, etc. use their mobile based application that contributes a significant share of revenues.

9. Tool to Alert Fraudulent Activities

Imagine that you construct an expensive house and fail to provide doors. Yes, building a brilliant online site and not having any fraud management tools pushes your business down.

Customers do not shop online when privacy and security bars don't match their expectation. 2017 will continue to have a significant impact on this trend.

10. Black Friday and Cyber Monday

Cyber Monday and Black Friday gets more attention by customers to shop online. The trend in 2017 has confirmed that the distinction between Black Friday and Cyber Monday fades out. Both the shopping holidays have moved online.

11. Multi-channel Shopping

Shopping trend has gained popularity through the multi-channel. We know that people want a device for their shopping. Shoppers who pass by your store does not physically visit your store. But do not worry he/she pulls out a smart phone and look online to gather product information. Next, he/she places an order after going home. Think storage Google Apis says that 42% of shopper’s current in the store manual order online debuting with deliver at home. Sounds funny? No, it's true.

12. Social Selling

Social selling trend will grow all through 2017. Every online store owner focuses on promoting their brands using social media platforms.

At the beginning stage of online business ignite your online sales using Facebook live videos and showcase the product features. Once your business starts picking up incorporate on-site videos.