When and how do you see the retail sector bouncing back?
Recovery will depend on Government’s support to the sector. It may take a minimum of three quarters to stabilize. As per a survey conducted by RAI, 70% of retailers expect business recovery to happen in more than 6 months whereas 20% expect it to take more than a year. Considering the extension of the lockdown, in the absence of major support, as many as 20-25% of retailers may be out of business or will need dire financial infusion to stay afloat. We are hoping the Government can assist us to pay front-end employees by seeking 50% of their minimum wages from government. Some ways in which the government could help the industry to stay afloat include waiving property tax and minimum charges for electricity and easing of licensing norms. These are areas that need to be addressed, things that will bring about ease of doing business in the post-lockdown scenario. Various industry associations need to work closely as they are facing the exact same issues – working capital and retention of people.
Any specific segments within retail that you think are more affected, as also segments that are likely to bounce back faster?
Modern food retail has de-grown by 30-40% due to the supply chain problems, shortage of manpower with attendance below 30% and lower customer entry due to social distancing. Garments, Saris, Electronics, Mobile Phones, Furniture, Hardware etc. almost all stores are closed. Non-Grocery/ Food Retailers are reporting 80% to 100% reduction in sales. Even retailers of essential items are facing losses as they aren’t allowed to sell non-essential items, which would bring them higher margins.
هذه القصة مأخوذة من طبعة May 2020 من Point of Purchase.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة May 2020 من Point of Purchase.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Retail As A Connected Economy
The current pandemic has created strategic opportunities in the true sense, and brands and retailers can make the most of this opportunity by positioning themselves as a connected economy, says Jalpa Patel – Lead Interior Architect and Sr.Visual Merchandiser, ZenGenius Inc, while drawing on interesting examples from the US.
‘THERE IS INCREASED UNDERSTANDING OF BUSINESS BENEFITS FROM DIGITAL SIGNAGE'
Brands today are increasingly taking the technological route to communicate with their end users, making the shopping experience more experiential while also fulfilling the basic consumer needs today for safe, contactless shopping and a reassuring retail environment. This makes it inevitable for a tech-enabled ecosystem, with a network of centrally controlled digital display solutions, coming into play. Brand across segments, including the automotive industry,are hopping on to the digital bandwagon and this has led to the entry of more and more digital signage solutions led by established tech players. For example, Panasonic India’s SignEdge Display Network presents itself as an end-to-end solution leading to seamless communication for the automotive industry at their point of sale. Recently, Panasonic India installed a digital signage solution for MG Motor India to drive communications to its customers across dealerships through multiscreen video walls, standalone displays etc. Vijay Wadhawan, Group Chief, System Solutions Division, Panasonic India, shares with Point Of purchase the whole journey.
‘IMPORTANT TO BE OPERATIONALLY NIMBLE'
Digital is the go-to shopping mode today for an increasing number of people, even in categories like fruits and vegetables. And along with the growing dependence on digital is the growing need for farm fresh products. Established in 2016 as a store offering premium quality of farm-fresh vegetables and fruits in the upmarket neighborhood of Powai, Mumbai, ‘Fraazo’ reinvented itself by adopting a digital-first approach and launched the ‘Fraazo App’ in October 2019. Started by the quartet Atul Kumar, Aashish Krishnatre, Vikas Dosala and Sumit Rai, Fraazo is a retail brand under VnF Ideas Private Limited, Mumbai’s leading B2B player in perishables category providing farm-fresh vegetables and fruits. The brand joined VnF family in 2019 and has since then been servicing over 2 lakh households in Mumbai and Pune and 60 plus societies through its innovative value chain module. Atul Kumar, Co-Founder & CEO, Fraazo shares with Point Of Purchase more on the Fraazo journey.
Wooing The Post-Covid Shopper: What's The Game Plan?
Let’s face it, the days of retail therapy when shoppers simply browsed around the store space, indulging their senses and adding products to their basket, maybe over or at least may have been put on pause till the specter of the virus is eliminated from our horizon. COVID -19 virus has ensured that shoppers today are more cautious, anxious, hurried - wanting to spend less time at the store, essentials driven, and prudent in their spending. So what does all this mean for brands and retailers? How can they win their shoppers back to a more relaxed, reassured, and happy state and get the economy going with greater spending? What role does shopper marketing, in-store communication, and technology play here? Let’s take a look.
‘BRANDS HAVE TO SHOW THEIR HUMAN SIDE & RETAIL SOLUTION FIRMS HAVE TO WORK WITH TECH COS'
Renowned retail expert, Dr. Dwarika Prasad Uniyal, who is also Professor & DEAN - FLAME University, and the bestselling author of ‘Managing Retailing’, shares with Point Of Purchase, his insights on consumer behavior trends post Covid-19 and what brands and retail solution providers can do to address the new challenges and win back consumer confidence. Presented below are excerpts from the interview.
‘Time To Pause, Reset And Repurpose?'
A few leading POP industry players came together to exchange notes and share thoughts on the collective need to pause, reset and repurpose business at the interactive online session ‘Way forward for the POP Industry’ organized by www.retail4growth.com of VJ Media Works. The discussion was moderated by Rahul Saigal, Founder and CEO, Friday & Theo, along with Vasant Jante, Editor and Publishor, VJ Media Works.
WHEN THE GOING GETS TOUGH, THE INDUSTRY GOES INNOVATIVE…
It is now increasingly becoming clear that we simply have to learn to live with Covid-19. As the country gets set for Lockdown phase 4,businesses are already re-looking at strategies to adapt to the new normal. For the retail solutions industry - one of the more vulnerable segments, given the dependency on retail - this phase also means diversifying and innovating to stay relevant to market requirements.Here’s a look at some timely solutions from our industry players, all rising up to the occasion with offerings to help in the Pandemic crisis.
‘REVIVE CONSUMPTION IN SAFE RETAIL ENVIRONMENTS'
In the midst of rising Covid- 19 cases that has derailed all activities , the continued lockdown, and the government’s efforts to kickstart the economy, where does the Retail industry stand? In a special interaction with Point of Purchase, Kumar Rajagopalan – CEO, Retailers Association of India (RAI), shares some thoughts on how to revive retail in the new normal, the future of retail, and more.
WHAT'S THE WAY AHEAD FOR THE SIGNAGE ECO-SYSTEM?
Kiran J, Director, Jemco Signs, shares his take on what signage suppliers, manufacturers, the government and clients can do to take the signage industry ahead in the midst of unprecedented challenges.
INDUSTRY VOICE ON BUSINESS CONTINUITY
Pandemic or not and whether lockdown continues or not, life must go on, which means the economy must go on and business will have to adapt and survive. But how exactly are businesses in the point of purchase and retail solutions industry ensuring business continuity? Here’s a look as some industry players share their take with Point Of Purchase on what business continuity means to them.
