Looking back, if you had to pen down your top 3 learnings from 2022, what would they be?
COVID has been an eye-opener for most of us in the industry. It has brought to the forefront the inefficiencies in our way-of-working and challenged some of the fundamental beliefs of retailers. For us, it has been a good challenge and a humble experience as we learnt many things in the entire phase. Some of the key learnings are:
We live in a 'Volatility, Uncertainty, Complexity and Ambiguity' (VUCA), which makes it imperative for corporations to be 'lean and agile' in approach. Organizations have learned to work on a 'asset light' business model, flatter organizational structures, and leaner inventory etc. We have also learned to be more agile through increased partnership with best-inclass service providers (ie 3PL Partners, Technology Vendors, Marketing Agencies, etc).
The pandemic has increased the rate of adoptions of Digital Technologies. Today's Customer demands a digital solution at every touch point, be it during the awareness process, purchasing or returning the order. This has forced the brands to evaluate, implement and imbibe 'digital first' approach. Organizations are looking to digitize all aspects of business, leading to increased efficiencies and better customer experience.
COVID has made us realise how vulnerable and helpless a person can get. It has kindled the feeling of helping others and made the society more responsible. As a result, people and brands have become more socially conscious. Topics like sustainability, global warming, equality, giving back to the society are on top of their agenda and they expect that every action of theirs contributes to the betterment of the Society.
Sanjeev Rao
Chief Executive Officer - Being Human Clothing
هذه القصة مأخوذة من طبعة January 2023 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.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 2023 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.
بالفعل مشترك? تسجيل الدخول
Leading The AI Revolution In Retail
As a leader in AI-driven retail intelligence, Sadique Ahmed, CEO, Pathfinder, understands the power of technology when it comes to improving and personalising the shopping experience for all.
Flipkart Deployed Over 10,000 Electric Vehicles in the Delivery Fleet
E-commerce major Flipkart on Monday said it has deployed over 10,000 electric vehicles (EVs) in its delivery fleet as part of a phased integration of EVs in the last mile delivery over the past few years.
Trent Q2 Profit Grows 47% to 335 Cr
Tata Group retail firm Trent Ltd. reported a 46.9% growth in its consolidated net profit to ₹335.06 crore for the second quarter ended September 2024.
Zomato, Swiggy Hike Platform Fee in Certain Cities Amid Festive Season
Online food delivery platforms Zomato and Swiggy hiked platform fees in certain cities amid the festive season. The two rivals are now charging ₹10 as a platform fee in the national capital.
The Evolution of Retail in North India
Emerging Hotspots, the Rise of Malls, and the Impact of the Residential Property Boom on the Region’s Retail Landscape
Madan Retail: Fashion for Today's Man
With a rich legacy and a keen eye on future trends, the brand continues to innovate and expand, meeting the evolving needs of its customers
Special Events in Malls
Giant Peacock, Lotus, and Swan: Orion Malls' Festive Spectacle
Building a Retail Legacy on Efficiency
Founded by Hemant Agarwal and Rahul Jhunjhunwala, V-Bazaar began operations in May 2016, opening its first store in Lakhisarai, Bihar.
From Urban Trends to Rural Aisles
V-Mart, a pioneer in the value retail segment, was founded by Lalit Agarwal in 2003—well before value retail became a widely recognized term.
Defining Elegance
Dennison has carved a niche in the menswear market with a diverse range of formal and semi-formal pieces priced between ₹999 and ₹3,999.