Month: November 2018

RNCOS has recently added a new Market Research Report titled, Indian Online Retail Market Analysis to its report gallery. For the past few years, the Indian retail sector has been witnessing tremendous growth, and contributing significantly to the countrys GDP. Though the country retail sector is highly unorganized, organized retailing is growing at a rapid pace to grab a considerable market share. According to our new research report, with the growth in organized retailing, the online retail segment is emerging as a new platform in the market. It is estimated that the online retail market will grow at a compound annual rate of around 39% during FY 2013 to FY 2016.

The report, Indian Online Retail Market Analysis, finds that online retail has been growing in the country at an unprecedented rate. With the rising internet penetration and broadband availability, and growing culture of Smartphones and tablets, people have started buying products online. As per our study, the major reasons driving the online buying is cash-on-delivery facility, and discounts & offers provided by the online retailers. The busy lifestyle in metros is also propelling people to buy products online. On studying the latest trends and drivers, we observed how the growing sales of kids products and grocery are expected to boost the online retail market in India.

As per our research, online retail account for less than 1% of the total retail market in India, and thus, presents a huge growth potential for international retailers. Domestic players are also expanding their reach to the online customers. For understanding the market in a better way, we also conducted a survey on consumer behavior towards online shopping. It revealed that metros or tier-I cities have more awareness about online retailing as compared to tier-II & III cities. It was also found that electronic products are most popular among online buyers. The survey also analyzed buying habits, major reasons for online shopping, purchase preferences, and spending patterns under different price bands.

The government is supporting the growth of organized retailing, and has allowed 100% FDI for single brand retail outlets, and 51% for multi-brand retail outlets. Our report provides an insight into the government policies and regulations (cyber laws), and various industry roadblocks which will help clients understand the market structure. In order to study the competitive landscape, we have also done a SWOT analysis of major players in the Indian online retail market, including flipkart.com, snapdeal.com, and homeshop18.com. We are hopeful that this comprehensive research work will prove decisive for the clients.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM421.htm

Some of our Related Reports are:

– Chinese Male Grooming Market Analysis (http://www.rncos.com/Report/IM420.htm)
– Indian Footwear Market Forecast 2014 (http://www.rncos.com/Report/IM310.htm)
– Indian Cosmetic Sector Forecast to 2015 (http://www.rncos.com/Report/IM388.htm)

Check Related REPORTS on: http://www.rncos.com/Retail%20industry.htm

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

Retailers and manufacturers are constantly on the lookout for new ideas and strategies to spur growth. And while smart companies are giving digital serious consideration, theyre not doing it at the expense of the store experience. Likewise, in our excitement around mobile shopping, lets not overlook our physical spaces and the tactile experiences they offer. Yes, stores have been our retail workhorses for centuries, but dont make the mistake of assuming weve wrung every bit of growth to be had from them. What can be done to spur growth from the fleet of branded spaces that currently exist? Plenty.

When I look across most categories, I see great similarities between competing brands. Brands get stagnant and complacent. All it takes is a little courage to get beyond the safety of sameness. I believe innovative thinking can only happen when you take a long hard look at your brand and ask, “What if?” What if we look at things from a different perspective? What if we do things a new way?

Customers get excited by new. We see this time after time when we open a store, especially if the exterior has had a makeover. Inevitably, customers who have forgotten about you will try you again. “New” attracts attention. The good thing about new is that it comes in a variety of degrees, from a complete overhaul to a new coat of paint and some impactful communications. Sometimes new can come in the form of an exciting offer. The worst thing you can do is not try. Dont fear failure. New ideas can be tested and adjusted, several times and ways, until the register starts ringing.

Recently, a client told us the secret of their instore success. They are always asking themselves, “What if?” And as a result, they continuously give the customer something they haven’t seen before. Something new. So theres always a little excitement, a reason to shop. The opportunity is there, in every square foot. All too often, the problem is with the limits of our thinking not with the limits of the store.

Turning around a retail business is easy, so much a lot of straightforward in fact than the many books written on the subject. Once you cut away all the fluff, it extremely comes down to some basics. Get these right and you’ll the focus on the additional complicated ideas.
The high six concepts for turning around a retail business in tough times are:
USP. Guarantee that the business contains a unique selling proposition, product, services or different factors which make the business distinctive from others in the same field. If you are doing not contains a USP why should people search with you?
Value management. Create certain that business prices are managed, that you are not spending cash on non-income generating activities. If your prices aren’t managed and are indeed out of management then you wish to sell more to cope with this.
Use folks who wish to figure there. Cheerful employees help you sell additional products. Selecting the right folks is very important to making any business more successful.
Competitive offer. Your product combine and pricing would like to demonstrate that your business is competitive. If your costs don’t seem to be good or your product combine not right then why would client shop with you?
Traffic generation. It is vitally necessary to plug the business outside its four walls. How you are doing this can depend on the business. Too usually, businesses in trouble are spending nothing or terribly very little on promoting their businesses. External selling could be a free check in your automotive, an advertisement or a self created flyer.
Being client friendly. Ensure that your retail business is laid out to suit customers and to assist them pay money.
The following pointers are non ancient because they’re straightforward and specialize in very basic ideas. While there are lots of different ideas for turning around a retail business, if you do not have these basic ideas right then the additional complicated and time consuming ideas can not help.
if your retail business is in trouble, start immediately to require action. Doing something, anything, is healthier than nothing and worrying. The ideas in this article are designed to get you pondering steps you can take while not spending money.

I started in retail when I was 13 years old. My first job was in sales at Pals Music Company, my neighbors dads record store in downtown Hattiesburg, Ms. Sales were a simple thing then. A customer, generally, had heard a song on our local radio station, WXXX, and came in, usually the following Friday or Saturday, and wanted to hear a bit of it on the built in record player. If it was the right song it was usually a sale. Every Friday I got paid in my choice, records or cash or both. I usually chose both.

As years went by, and finally after college, I took jobs in various industries, but always seemed to migrate back to retail. Now I am a cartoonist. In September of 2006, I opened my first online retail store which sold (and continues to sell) tees, mugs and such bearing my offbeat cartoon images.

I had gone back to college from 2002-2006 to learn Internet technology and business, but even it did not prepare me for what was to come. How does one deal with customers in which, more often than not, there is no human contact?

Four years have now passed since I opened my first online shop, and I now have four more and over 200,000 licensed gifts and tees. Since I do not stock inventory, I use manufacturer/dropshippers who print and deliver my goods, so I have to choose carefully. With my core manufacturer, I made certain I have access to all my customers names and mailing addresses so that I can stay in touch for sales, promotions, etc. If you are able to do that, please do. But dont expect that kind of respect from the major online PODs (Print On Demand) firms such as Zazzle, Printfection, Threadless, Cafe Press and the other big dogs. Here are my five steps to online retail survival and even profit.

1. Become an expert. This does not mean know it all or guru. It simply means to catalogue useful information and purveying it to others through blogs and article marketing. Eventually existing customers and new ones come to rely on you for good info and google your name. Writing blogs such as this often come from a combination of both reading and experience, but mostly experience.

2. Make good use of Twitter, facebook and other social networks. Many try to dictate the right and wrong way to do this. In reality, what works for Fred will probably not work for Barney. Social media is truly not a one-size-fits-all world. Many well known brand businesses use the totally personal approach of having a person trying to juggle all the balls in the air engaging in one-on-one dialogue 24/7. Other companies have so much information, they use a real human person to tweet all the while having pre-scheduled news tweets going using such systems as Hootsuite or Twaitter. These are also ideal for smaller or mid-size firms that may be on a limited budget but want to have an online presence throughout the day and night. It is particularly effective for my firm since about 50% of our orders originate from Europe, and are processed when we are asleep.

3. Think globally, act locally. This is one that I procrastinated for a long time, and my wife found a way for me to want to give it a try by creating a very attractive thank you packet that we sometimes leave with someone in the service industry who has treated us well. The presentation she created is so unique, it has already proven effective even after only handing out a few of them. We have noticed large orders originating from our own hometown. I dont spend as much time on this as I believe I should and plan to utilize it more often. I am used to working online but my goal is to balance that. I will report again in a few months to let you know how it is working.

4. Price within reason. This time the dot.com bubble appears not to be busting. More and more people are appreciating the convenience of shopping online. But just like in physical stores, people like a good price. One has to make a profit to stay open, but one has to price it within reason so that the market can afford it, or the market will go somewhere else.

5. Dont jump the gun when opening. Make sure your shop has enough inventory. When I say inventory I dont mean ten or twenty items. Whether you are using a POD manufacturer or making your products locally or dropshipping someone elses or becoming an associate, fill your page with salable images. I did not start selling until I had a few hundred items in my shops, but it is different for everyone. Now that there are thousands, they are picked up by all the major shopping channels such as Google Shopping, The Find, Shop.com, etc. People rely on these sites for useful retail information and comparison. Most people do the opposite but fill your shop with merchandise, then open the doors.

Looking at the typical bank, it would be so easy to assume that managing or operating a bank would be somewhat of a breeze. However, this is not so, especially when it comes to retail banking. There are so many factors at play here that concrete and accurate analysis can be very difficult for any bank manager or proprietor. Fortunately, this endeavor can easily be achieved with the help of KPI in retail banking.

What exactly is a KPI? This is actually an acronym that stands for Key Performance Indicator. This is a quantifiable factor that is used to measure the current performance or status of a business or enterprise, matching this against the goals and objectives that were once set way back during the foundation of the enterprise itself. In laymens terms, KPIs are measures used to determine how far along a business or enterprise is in its path towards achieving goals and objectives. Such is the purpose of the KPI, and this is very much needed when it comes to retail banking as well.

So, what are the KPIs that should be used in the industry of retail banking? These are actually the factors that are related to the overall performance of the retail bank. This is a very broad definition of the type of KPI that you can use in retail banking. To be more specific, here are some of the following metrics that you can use.

One of the metrics that you can use is the total cash deposits that the bank holds in a month. This should be included since this can measure how effective the retail bank is in attracting their customers and clients to make as many deposits as possible. After all, a retail bank earns its profit from the deposits that their clients make, right? Thus, this should be a metric to be included. In relation to this metric, the average annual deposits should also be used as a metric.

Another metric that you can use is the average number of depositors for each branch of the retail bank. Retail banks do branch out over time, especially when business is going well. Thus, it is important to determine the average number of depositors in each given branch. This still pertains to the ability of the bank to attract depositors.

The ratio of active depositors to dormant depositors should also be included as a metric here. We all know that not all accounts in a bank are active. Having a large number of dormant accounts is something that banks want to avoid because this would only mean bad business for them. Thus, this should be included as a metric as well.

The rate of borrowing risk should also be calculated. Banks are primary lending institutions, and when it comes to lending, banks should very well gauge the risk that comes with granting loans. For this, the bank should exert efforts in determining the possibility that the borrower would end up not being able to pay his loan once it matures. There is also that risk that the borrower might default.

These are just some of the KPI in retail banking that you should consider including. With these KPIs, the retail banks operations can run more smoothly.