The Key to Economic Survival - Retail

Presented By Kapil

Vardani

INTRODUCTION

In the worst economy retailer still struggle to build loyalty among cost conscious customer and by all accounts, that time won’t be a lot easier.

EFFECT OF ECONOMIC SLOWDOWN ON RETAILChange in

consumer psychology.

Less discretionery cash to spend.

Fear of finacial and job security.

CHANGES FOR ECONOMIC SURVIVAL

Watch expenses and cash flow.

Continue investing in solution.

Apply consumer centric strategies.

Apply chainStorage system.

KEY ELEMENT

Consumer centric marketing.

Merchandising Price Optimization

and Direct Marketing

CONSUMER CENTRIC MARKETING

Customer-centric marketing raises awareness and optimizes appeal informed by customer intelligence.

From the marketing perspective, the industry is shifting from a one size fits all mass media strategy to more

personalized communications based on customer buying patterns and prefrences.

MERCHANDISING Merchandising is any

practice which contributes to the sale of products to a retail consumer. .

From the merchandising perspective, chains are tailoring and localizing assortment and pricing based on local consumer demand.

PRICE OPTIMIZING AND DIRECT MARKETING

• Top priorities today include price optimization and direct marketing compagin management. Retailers often deploy a series of self funded , bite-sized programme with the goal of achieving transformation into a customer driven enterprise that Is well postioned for long term success.

ROLE OF TECHNOLOGY Technology is a critical

enabler. A customer driven enterprises requires execution at very detailed level. Automation enabled by analytical technology is required to acheive this in a cost effective manner.

These technologies allow 21st century retailers to offer the more personalized service of the yesteryear in a cost effective manner.

EVALUATION OF CUSTOMER EXPERINCE EVOLVING IN

FUTRE With the pervasive web

access enabled by today’s mobile devices, the multi channel world is evolving into a single retail channnel with multiple channel touchpoints. This allow the consumer choice, control and visibility to construct their own

personalized shopping process –a foundation element of customer centricity

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