Retail industry, being the fifth largest in the world, is one of the sunrise sectors with huge growth potential and accounts for 14-15% of the country’s GDP. Comprising of organized and unorganized sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and multi-brand FDI has created positive sentiments in the retail sector.
Find and utilize your data, leverage that information through business intelligence, analytics and data science, and ensure stronger relationships with vendors, partners and, ultimately, your customers.
Provide Omni-channel experience to the customer; enable the sales associate to provide customers with targeted promotions and improve profitability.
Leverage predictive analytics and big data to harness transactional, social, location and demographic data.
Improve billing, inventory and promotions management within and across stores.
Reduce IT development costs and reduce time to market.
More than 80% of the online population has used the Internet to purchase something. Your customers expect you to be available, and this presence allows you to keep up with the competition. Otherwise, your audience will be flocking toward your competitors to make an online purchase.
More than 80% of the online population has used the Internet to purchase something. Your customers expect you to be available, and this presence allows you to keep up with the competition. Otherwise, your audience will be flocking toward your competitors to make an online purchase.
As a business owner, you want to grow your business and attract new audiences. Physical retail relies on branding and customer relationships, but online retail has the added benefit of driving traffic from the search engines. If a customer is doing a search for photo editing software, for instance, they may land on your company even though they’ve never heard of you before.
Running an ecommerce store can actually save you money. How? With a web-based management system, you can automate inventory management and decrease the costs associated with it. Also, running an ecommerce store doesn’t come with the same overhead costs as a physical store. The additional profit that is made from reaching more customers will offset any initial setup costs.
It’s difficult to build a customer persona when you’re running a mom-and-pop shop. You can get a rough idea of who your customers are, but it’s based on your perception rather than actual data. With an ecommerce store, you have the ability to track your customers’ buying habits. What products are they most interested in? When are they likely to buy? What motivates them? All of this information can be used to sell more efficiently to your customers.
Ecommerce will help your brand get more awareness in the online landscape. As you develop more web pages, the search engines can index them and boost your placement. It’s important to use good keywords in your content that are optimized for your audience, as this is what will drive traffic to your site. As your site gets more visibility, people will become familiar with your brand and reputation.
When you have an ecommerce site, you can provide as much information as you want, which customers appreciate. From the product description to customer reviews to shipping charges, you can arm shoppers with the information they need to make informed buying choices, and you don’t need to provide the staff to answer these questions. This leaves you with more time for other tasks around the workplace.