OLD RETAIL VS MODERN RETAIL FORMAT

The biggest charm of traditional retail lies in its interpersonal relations —between the retailer/owner and his customers, field agents, suppliers and wholesalers. Customers earlier remained loyal to their local retailer who understood their demands and had a personalised stock available for them.

- Mayank Lakhani

We’re living in a world of excesses and indulgences — increase in disposable incomes, multiple products and a host of retail channels for customers to choose from. Clearly, the way we shop today has evolved in more ways than one over the last few decades. Modern retailing has brought with it, its own set of pros and cons vis-a-vis traditional retailing.

Small shops run privately by the owners themselves, who kept a close track on the requirements of his loyal customers and stocked up accordingly; the owner genuinely being concerned about the health, family, and other such personal details of customers he’s known for a long time -- were all part of the old charm of traditional retail. Every sale hinged on the inter-personal relations between the customer and the retailer, who in turn, had a great rapport with field agents that went back to the wholesalers, each relationship keeping up a healthy and thriving cycle of demand and supply.