Research: The New Retail Reality
Images Retail|October 2020
A report by KPMG in India and Retailers Association of India (RAI) sheds light on how the pandemic has led to a change in consumer behaviour and more importantly how the retail space is undergoing a complete makeover…
Research: The New Retail Reality

With the ongoing pandemic, Indian retail is undergoing a huge makeover. Despite this, the sector continues to be one of India’s largest industries that makes up for about 10 percent of the GDP and around 8 percent of the employment. Shopping habits have been largely affected during the pandemic, with safety now taking over as a new criterion over price range, variety and convenience. In India, hypermarkets are witnessing lower footfalls and most sectors including apparel, accessories and durables have faced a lack of demand. Essential category players are also facing challenges, albeit of a different kind-managing huge spikes in demand, ensuring liquidity, modifying and managing store operations to maintain safety standards, managing employee and health and grappling with a shortage of staff.

While it is yet to be determined which consumer shopping trends will have a lasting impact coming out of COVID-19, what we know for certain is that the digital shelf is now more important than the physical shelf. While many brands are taking this time to innovate and nd new strategies for greater personalisation and digital connection, they’ll need to ultimately unpack what is a passing trend versus a real shift in consumer behaviour.

KEY ASPECTS:

Considering some of these changes, below are a few key aspects which retailers should consider post the COVID-19 scenario if they are to survive in this new reality:

Going Hyperlocal

New Age Phygital

Using Digital Technologies Maximum

Supply Chain Resilience

Revised Media and Advertising Spends

Staying Close to Customers

هذه القصة مأخوذة من طبعة October 2020 من Images Retail.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة October 2020 من Images Retail.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من IMAGES RETAIL مشاهدة الكل
McDonald's The Maharaja Mac Of Transit Retail
Images Retail

McDonald's The Maharaja Mac Of Transit Retail

While McDonald’s serves as a great example of successfully Indianising a global brand, it is also an insightful case study in strategically making transit retail work

time-read
9 mins  |
October 2024
Founders, Market are Key for D2C Investors
Images Retail

Founders, Market are Key for D2C Investors

Investors and brands across the retail landscape are the crucial factors considered when raising funds

time-read
3 mins  |
October 2024
Powering Consumption Growth India's Home and Household Market Report
Images Retail

Powering Consumption Growth India's Home and Household Market Report

The report from Deloitte India projects that India’s home and household market is witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs

time-read
5 mins  |
October 2024
Tech Infra Readiness Among Top Challenges in GenAI implementation
Images Retail

Tech Infra Readiness Among Top Challenges in GenAI implementation

Tech infrastructure readiness is one of the top three challenges organisations in the technology, media, and telecom (TMT) sector face when implementing Generative AI (GenAI) solutions, a report stated.

time-read
1 min  |
October 2024
Amazon India Introduces AI Chatbot Rufus Ahead of Festive Sale event
Images Retail

Amazon India Introduces AI Chatbot Rufus Ahead of Festive Sale event

E -commerce major Amazon India launched a new generative AIpowered conversational shopping assistant, Rufus, ahead of the start of its festive sale event.

time-read
1 min  |
October 2024
'Fusion of Art and Commerce Helps Virtuous Retail Create Culturally Rich Shopping Environments'
Images Retail

'Fusion of Art and Commerce Helps Virtuous Retail Create Culturally Rich Shopping Environments'

Sumi Gupta, board member of VR South Asia, who spearheads all things art and culture at the group, talks about the unique approach of curating art festivals in retail spaces to foster a deep community connection and drive commerce

time-read
5 mins  |
October 2024
Jumboking's Travel Retail Journey
Images Retail

Jumboking's Travel Retail Journey

About 95% of Jumboking's outlets are positioned at busy transit hubs benefiting from the high foot traffic these places enjoy

time-read
1 min  |
October 2024
What's Driving the Success of Electronics on Q-commerce
Images Retail

What's Driving the Success of Electronics on Q-commerce

Electronics are among the hottest selling items on q-commerce. Here's what's driving the trend and why the collaboration is a win-win for all stakeholders

time-read
4 mins  |
October 2024
Measuring the Influencer Effect
Images Retail

Measuring the Influencer Effect

Influencer marketing has become a core part of every brand's marketing. But does it really benefit brands?

time-read
3 mins  |
October 2024
Mid-range Smartphone Users Lead in Premium Product Engagement
Images Retail

Mid-range Smartphone Users Lead in Premium Product Engagement

The study, conducted by Bobble AI’s Market Intelligence division, delves into the online shopping behaviour of smartphone users

time-read
3 mins  |
October 2024