Restructuring Operations As Fashion Retail Revives

As the fashion retail industry witnesses a revival in demand, businesses would have to restructure their operating module to ensure that they stay relevant.

Nishant Poddar, Chief Marketing Officer & Head Retail Experience, Universal Sportsbiz (Wrogn, Imara, Mstaken & Single)

Hope is like a miracle that gives you a new tomorrow. Hope, to wake up each day, a little further from the standstill, to crawl, walk or tread in search of a better future is what the new normal has been for all. Back in March 2020 it looked like a distant dream to have a vaccine in next 12 - 18 months & today it is a reality, which is aiding life to Return to Normalcy.

The festive period ensured that the country at large saw a surge in the economic activity and things are looking like it is getting back on track. The traction in a few industries have already gone past the Pre-Covid numbers. The optimism is backed by liquidity in the market and a resumption in the consumption level.

As the saying goes, you learn with time - Year 2020 has certainly ensured that a lot many lessons are learnt. Businesses have zeroed into focus on efficiency at all level to ensure that there is a smooth sail in the course ahead.

Most businesses would have to restructure their operating module to ensure that they stay relevant. Retail particularly has been fast changing the workings. What started about a decade and a half ago with the advent of modern retail would continue to evolve. The cost based model of convenience is now moving towards frictionless buying. Consumer expectations are at an all-time high and the margin of error is at an all-time low. Retailers have to be cautious of their offering and deliverables. Consumer experience is no longer restricted to a good customer service.