Future of retail in Delhi-NCR?

Quiz?

Future of retail is not what we have today, which is e-commerce and traditional retail.

Quiz?

Pick your answer:

1. Will e-commerce kill retail?

2. Will offline to online (o2o) kill retail?

3. Will deep discounting kill retail?

4. Will Reliance kill retail?

Kevin Hillstorm’s knows the answer: none of the above

- For existing retailers they have to focus on three things.

• Retail will bifurcate into hyper-loyal customers (20%) and the rest 80%.

• Hyper-loyal customers will generate the maximum revenue and profit.

• It’s time to trim down the stores, more than 50% of the existing stores. He suggests four stage retail transformation.

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- For new entrants:

• It’s all about merchandise. He writes, “Sell new merchandise in low-cost digital channels. Sell existing merchandise in expensive retail stores”.

• Also it’s time to set up a new marketing program, which combines online and offline. It starts with online and goes off line.

• Key tools are social media channels, email and good old shops.

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