Outsourcing in Retail Industry: India – YourRetailCoach
‘The Big Indian Retail market’ offers big opportunities for business in the both online and offline formats.
Pune, India (PRUnderground) November 4th, 2019
While the traditional route (brick and mortar) continues to enjoy an overwhelming share of the total retail market, taking your retail onlineis only getting more exciting attributable to the ever increasing number of smartphone users andthe growing internet penetration in the country.
However, it is not all fairy-tale. In a perfect competition market, there are challenges on both the sides. And sometimes even across.
Offline retailers are finding it increasing difficult to compete against the inventory-based online business models. This is especially true for the offline-only retail MSMEs whose market access remains limited while their online counter parts get access to the entire domestic market. The offline retailers have to play it safe with their inventory. They have to incur infrastructure set-up and recurring costs. And the exclusive list goes on.
But it’s not that an easy ride for the online retailers as well. Going solo, retail web stores have to face intense competition from the online marketplaces. And when they jump into the bandwagon of the online marketplaces they have to face both stiff competition and brand dilution. Additionally, managing a wide distribution network is not easy. Inventory, logistics and warehouse management needs to be carried out using up-to date tools and technologies.
What makes things even more challenging for the retailers is cross-channel competition.
Online Crusade versus Offline Fortress
Small businesses which stick to only-physical format are bound to fall behind all online retailers and not just their neighbourhood counterparts. Online food delivery service providers are a perfect example here. Small restaurants which you might not have even heard of are now known to you because they are now listed in your favourite delivery apps. Many restaurants which were initially not inclined to go online via these apps had to follow suit because they began to face the heat of competition. Along with a physical presence and by going online, restaurants give themselves an opportunity to counter-competition both offline and online. Even the big boys are not spared from this phenomenon. For example, no doubt that the newly emerging online grocers have to face a tough day on the field from its big offline competitors but surely the former have begun to intrude into the precious online retail market share in the grocery segment.
But in many cases it is very difficult to breach the maturity of the offline retail. For example, the newbie online retail pharma players find it very difficult to compete against the brick and mortar pharmacies which are present in almost every locality. The trust factor of customers plays a crucial role in sensitive segments like medicines and health care.Taking another example, it will betough to convince customers to buy vegetables online instead of the sabzi mandis (local vegetable markets).
How Your Retail Coach (YRC) is contributing to retail outsourcing industry in India
It requires a balanced, omni-channel strategy to take both online and offline channels hand in hand to reap the optimum best from both. Working understanding of the retail market at the macro level and expertise in retail management at the enterprise or micro level is vital to devise effective channel strategies in retail.
With its domain expertise in retail management, YRC is assisting retail businesses in building effective omni-channel strategies for online and offline sales management. YRC helps craft the ‘entry-to-market’ strategies for domestic and foreign businesses aiming to find a launchpad in the Indian retail market.
Retail Warehouse Management
Whether the channel is online or offline, an effective and efficient warehouse and inventory management is critical to ensure optimum inventory levels and smooth in-bound and out-bound inventory traffic.
YRC’s retail warehouse management experts help businesses in setting up their retail warehouses, streamlining inventory management processes and overseeing manpower management.
Distribution Business Management
With a poor distribution network, there certainly aregoing to be problems in ensuring availability of goods in the stores or goods reaching the end customers which may end up hurting the brand and customer satisfaction. At the same time, establishing and managing a wide distribution network in vast country like India is no easy task. There are multiple states, territories and entities involved in any nation-wide distribution network here. Ensuring that the established standards are followed at every junction is a big challenge. Standards, tools and technologies have to be aligned with the distribution associates.
YRC assists businesses in setting up and maintaining a robust distribution network across the country.
Retail Store Management
In a predominantly brick and mortar based retail market, offline channel remains a hot entry ticket to the Indian retail arena.
With its flagship domain expertise in retail management, YRC helps businesses set up their retail brick and mortar stores in India. YRC retail experts assist in research & choosing appropriate store locations, infrastructure set-up, talent acquisitionand training at the store level, defining and standardising store processes and operations, looking after sales, accounting and day-to-day store operations.
For any further query or assistance, just leave a ping at our website’s chat window or you can directly call us at the provided numbers.
YRC is a Management Consulting Company, especially for the B-C Sector.
Our expertise lies into designing of Standard Operating Procedures (SOPs), Franchise Development, Strategy & Operations services, Process Audits & Training.
We help companies to organise their operations and expand through best management practices.