India’s largest online shopping store raise another round of funding raise 6000 crore from same investors and few new. Indian e commerce industry on rising and will move more high in next 10 years. Now in india we have more than 220 billion internet users in indian and from it there are 24 billion register user they have in Flipkart. Bini Bansal who is the co founder of the largest internet shopping site looks like more interested in investing than pick profit in pocket for next few years.
It is a good shine that Indian consumer will get a nice experiences in next decade.
Whenever when one thinks of visiting “Cuttack” the 1st thing that comes up in their mind is Chandi Mandir. The temple is famous for the annual durga puja and kali puja festivals. Apart from this presiding diety temple, Dhabaleswar Island, Barabati Fort, Netaji Museum and Barabati Stadium are some of the prominent locations in Cuttack which should be visited by everyone.
Besides, Odisha State Maritime Museum has been set-up in Jobra has the unique distinction of being the only workshop, which catered to the requirement of three provinces of Bihar, Bengal and Odisha under the Bengal Presidency of British India.
Cuttack is a vibrant commercial centre and shopping hub of Odisha. It is known for its distinctive kinds of handicrafts and textiles. The city is famous for the silver filigree work which is used in making exquisite jewellery.
For those who want to buy traditional fabrics, the best option is the Government-run state emporia, where one can see an amazing variety of cotton and silk fabrics.
Malls like Vishal, Big Bazaar, Metro Bazar, Bazaar Kolkata, Fashion Bazaar and V2 serve as the hot point to shop for one roof mall lovers.
Dargha bazaar and Buxi Bazaar share the heart of variety shopping for the people of Cuttack. It is mandatory for people to visit all these places and know the real Cuttack and its beauty and charm.
Visual appeal in the apparel industry makes a big impact on the footfall as well as the conversion ratio. For example, an apparel store with mannequins donning their latest collection has a greater chance of people walking into them than their counterparts with a mere sign and adaptability of these players. The jungle law of survival of the fittest however, still applies in these markets and, going by the resistance that some of these emerging economies offered to FDI in retail, it is evident that a lot is left to diplomacy and chance.
In spite of the challenges, the emerging economies provide the ultimate opportunity for brands to tap the rapidly growing and dynamic markets. Adopting strategies that ensure a longlasting and fruitful run is therefore mandatory to cope with the regional diversity in such economies. Looking at players that have made a mark over the last decade, it is evident that their adaptability, customisation and region-specific marketing strategies have been their greatest strengths.
For local players, the markets are still ripe with opportunities globalisation brought about. Footfalls will increase over time and so will consumption; however it is only the players equipped with footfall conversion strategies, superior customer relationship management techniques and quality brand management policies that will hold the reins to the market in the long run.
While the techniques mentioned may improve footfall at a store or a shopping mall, converting them into buyers involves a more comprehensive strategy that delves deep into customer psyche. Well-groomed sales executives, ample retail space for movement and accessible store displays often induce a desire to shop from a store. As more and more companies opt for CRM (customer relationship marketing) solutions and as the options in the market are increasing, with the introduction of cloud computing and SaaS options in the CRM space, retailers today have a variety of solutions to choose from, for management of their customer data. With these advanced systems, retailers can have access to actionable, stat-based and concrete data that facilitates faster business decisions. Access to customer data that is effectively segregated, real-time data sharing and multi-channel usage options make today’s CRMs an absolute necessity for retailers. These solutions can help identify issues in the marketing strategy as well as constantly keep a tab on costs for companies, thereby helping retailers identify, target and eventually manage customers better. A customer, who enjoys a pleasant retail and after- sales service experience, has a higher chance of recommending the store to a friend/relative, even if the product is at par with the rest of the market. This can have a direct impact on footfall conversion as word-of-mouth remains.
As the emerging markets become globalised, the retail landscape undergoes a gradual transformation. Global giants enter these markets with a bang, set new trends, innovate, consolidate and eventually dominate. The success stories of brands such as Adidas, Nike, Fila and Reebok in the sportswear segment, bear testimony to this fact. Fortunately however, the impact on the domestic industry is rather positive as these players learn from the giants, enhance their models and continue selling. It is the size and dynamism of these markets that accommodate both these categories of retailers and therefore, competition increases at a rate that is slower than the rate of innovation