Retail Dude

Hey guys, for those who do not have a job, do you just want any job or have you given a thought what would be the best place to be in these times of recession. For those who have a job, are you still looking forward for the ‘Retail Boom’ to happen or you know where your job is taking you and where you can actually be. Here is a little weekend analysis from me on both these situations. Sit back and read, hope it gives all of us who get lost living by the day, some clarity on what we want.

For those looking forward to a job; alright there is no ‘Boom’ round the corner; but still Retail Sector is the answer. There is ample good news to look forward to, few are listed here and I’m sure all my readers would have one such news with them.

While most companies are trying to find strategies to beat the global slowdown, consumer goods companies have not only decided to increase manpower, but also to scale up their research and development (R&D) spends.

• LG Electronics plans to invest $50 million (around Rs 250 crore) to enhance its manpower and R&D in India by 2009.

• According to ITC’s sustainability report, ITC’s payroll expenses grew from Rs 541 crore in FY06 to Rs 630 crore in FY07 and Rs 733 crore in FY08 and the company remains bullish on hiring.

• Aditya Birla Retail (ABRL) has announced plans to open ten hypermarkets in India within the next two years under the ”More” banner. It also aims to have 1500 supermarkets and 100 hypermarkets by 2013. According to CEO Sumant Sinha, ABRL the company will invest a total of US$2.5bn on its expansion plans.

Those with a passion for retail just remember one thing, in the short term it might seem more important to get a job that gives the best compensation, but in the long-term, most employees are chronically dissatisfied until they get a job that provides the best personal fulfillment.

For those in Retail Industry, this is what we can look forward to, because this will be the solution to the ongoing slump.

Good with Consumer Psychology and creative at thought you can be a “Consumer Psychologist”. Consumer psychologists study people’s emotional, cognitive, and behavioral responses to a wide variety of stimuli including advertisements, packaging, marketing promotions, communications, products, services, and experiences. From these studies the consumer psychologist can help decision makers determine design and development changes that will produce an improved consumer response and produce an increase in sales. As the field gains credibility, consumer psychologists are being given high level management and policy level positions in marketing, advertising, and retail organizations. Your primary responsibilities as a consumer psychologist will be research, analysis and development.

You feel you have amazing selling capabilities, and you can sell almost anything you can be a “Personal Shopper”. Personal shoppers provide expert advice and give the highest level of customized service possible to individual shoppers. By giving personalized attention and providing advanced knowledge of products, services, and trends, personal shoppers become trusted consultants for shoppers who want an enhanced buying experience which is easy, inspiring and productive. You will be responsible for building a client base of loyal shoppers who make frequent purchases. The result of your efforts should be higher sales ticket averages and extreme customer satisfaction.

For all those good at Retail Numbers, business, analysis and strategies, you can be a “Retail Competitive Intelligence Analyst”. As a Competitive Intelligence Analyst, you will be keeping an eye on the strategies and pricing of your employer’s competitors, and making recommendations for marketing, promotions and strategic initiatives based on the data you collect and analyze.

All these Job Profiles will not come without the required skills. Its possible only if we indentify our passion and work towards it. For complete details on these Job Profiles like the skill set required, the compensation etc. please visit http://retailindustry.about.com/od/retailjobsprofiles/Retail_Jobs_&_Your_Retail_Career_Path.htm

-Roli

 Email  Print 2 Dudes Commented »

When we started off with Retail Dude, we had intended it to be a small blog for people of similar interest, to be cunning and straight. Then, we realised that if we agree with most of our own theories that we develop here, we need to grow! just like any other venture we throw sarcasm at, we need to provide you with more reasons to be happy, more reasons to do something

So, here is another attempt to do the same! Retail Dude Jobs, which can be found at the URL: http://jobs.retaildude.com (Bookmark it) where we intend to make it an open platform for recruiters to look for some quality retail workforce within India, keeping it free, and transparent.

Its a virgin start, no jobs yet

- Team RetailDude

 Email  Print Make a Comment »

Ever thought about spending a penny to save a Rupee.  

Sounds a great proposition, especially when recession is on upward swing & markets are hitting rock bottom.  So as our oldies said, money saved is money earned holds particularly true in today’s scenario, when cost cutting is the new mantra. 

So, to untangle one from the clutches of recession, a new service is launched, moneysaver, brainchild of 2 young entrepreneurs, Kunal Bahl & Rohit Bansal, who aspired to make every brand affordable for everyone by offering hundreds of discount coupons & buy  one get one free coupons on branded apparels, fine dining, casual dining, movies, entertainment etc.  

Moneysaver is a service that comes in handy to consumers as its affordable (Just Rs 100 monthly), accessible (Just a sms away), Available (More than 200 outlets where one can buy moneysaver recharge card.) & every month, subscribers are kept abreast with the latest offers through monthly catalogue. 

The entire model is based on the simple fact that everyone loves to strike a deal, to make a bargain and avail a discount. The research which their focus group discussions revealed was that Indian customers are not price sensitive, they are value sensitive. The perceive value not on the basis of whether they are getting the product cheap but if they are getting it cheaper. Money Saver stretches the concept to make it a win-win for all by feeding on ’dependencies’. Aiming to reach a target group of 15 million potential booklet buyers comprising young professionals, college students and housewives they know that this is exactly the same group that the expanding pool of retailers is trying to reach across the country. There website called www.moneysaver.in is full of such great offers.

Not only Moneysaver, but other companies are also trying to utilize SMS, Bluetooth, mobile websites, to cost effectively reach customers.  Bluetooth companies such as Telebrahma and CellMagix have been promoting offers and content to consumers inside malls, by sending information directly to Bluetooth activated phones.

(Guest Post)

 Email  Print Make a Comment »

We just “love” acronyms! ASSOCHAM, FICCI, IIT, NatGeo, SET et-ce-te-ra.

Oops! Forgot MBA completely ;-P  Oh My God, the title above can also be called MBA. Just joking!

There was this article on Mint, yesterday (read at http://epaper.livemint.com/Default.aspx?selpg=883&selDt=12/15/2008&BMode=100 ). Many other news-media have been reporting similar analysis, of the “Organised Retail” scenario, one after another.

Factually, retail takes 3rd place after economy & terror, on print media!

At the same time I find bold expansion plans or entry plans of new corporations, into this same hot-spot! What’s up guys? Agreed that organised retail has a very long way to go, from the measly 5% share. Also agreed that retail real-estate prices/rentals have “corrected” by at least 20%. And I do agree that FMCG consumption is likely to remain bouyant too.

Even then, how does it make sense to sink fresh investment in retail, at this juncture? Specially by the “unititiated”? If you read the Mint article carefully, you’ll find definite insecurities (about the industry), expressed in very subtle terms. Example: “If the organised retailers get on to the right model, it can grow by 20-25%”. Key words here - If, right model, can. All very “iffy”.

Big bosses like KB & others are all doing some “cutting-shutting” (remember that ad featuring two kids?) Which is very appropriate. Surgery is almost always the 1st resort. Chemo comes closer towards the end.

This scenario is very dicey! Who has so much surplus funds, to let them earn returns on such a long-tail cycle? If they do, why aren’t they investing the same in much safer (in the short term at least) ventures? Is there a grey area here?

India cannot afford to lose more money chasing bad. The effects will be catastrophic! I really hope we are not turning into a country run by Blind managers, following in the footsteps of our blinkered politicians.

Belt up, we are perilously close……

- Arnab

 Email  Print 2 Dudes Commented »

Click image to enlarge

Though this poll dose not require any analysis as IRCTC is way ahead of other options. We would rather compare these stats as use of rail website vs. others (air & road). In India use of rail transport is more common that any other mode because it is comfortable and economical. Though we cannot underestimate road transport based on these stats as people generally don’t book bus tickets online.In this pie we have ignored ‘Red Bus’ and ‘Rediff Fares’ as no one voted for them.

If we observe, total number of tickets booked online as a percentage of total tickets sold for both rail transport and air transport, we will see that the air transport is way ahead. But still we have more penetration for IRCTC because of more use of rail transport. Following is the stats which shows the use of online booking for rail transport in India for 2007-08 published by Business Line:

Online Booking of Train Tickets

- Team: RetailDude

 Email  Print Make a Comment »

I’ll start with a quote

“Collaborating with competitors involves yin and yang, two opposing and simultaneously complementary facets of a single phenomenon. This balance can create substantial value, particularly when the collaboration involves common processes that provide no competitive advantage.”  By Evan Rosen.

This was used, as recently as yesterday, by none other than the doyen of Modern Indian Retailing, Shri Kishore Biyani. He was concluding his key-note address at the Retail Summit : 2008.

Collaboration remained the agenda of his speech, which he admitted, was a very different strategy in today’s “New World Order”. In the same breath, he also admitted that his own speech, last year, was based on the ”Old World Order”.

It’s a pleasure. To find that our retail-gurus have finally removed their blinkers, in a hurry!

Hang on, hang on! Have they? What are the possible “collaborations” he’s touched upon?

Sourcing of merchandise, HR, Real-Estate & some other necessary services required by all organised retailers. Now, I’m not sure if ”these” could be called ”collaborations” in the real sense of the world or even by the quote above! This looks more like another word that starts with the alphabet C too: Cartelisation!

The Sales-Logistics-Marketing gurus attending the seminar would have definitely risen in unison when KB closed his address. To applaud. After all, terms like “collaboration” have this unavoidable connotations with others like “teamwork, networking, partnerships etc.”, all very “current”.

Our neighbouring country is keen to collaborate with us……on burning issues.

The august congregation inside the auditorium were, hopefully, sharp enough (sharpened by their enviable alma-maters, then their fast-track career demands & so on so forth), to read between KB’s bold lines. So, the applause must have been genuine!

Yes, we all love collaborations, as we all were born of at least one (notwithstanding Mamma Mia)!

Borrowing again from Rosen “yin and yang, two opposing and simultaneously complementary facets of a single phenomenon”, I’d have thought a different way to collaborate, for “real-success”.

Have the doyens considered collaborating with millions of mom-and-pop store across the country, ever?

That, can really turn out to be the latest definition of “collaboration”.

 Email  Print Make a Comment »

Why should a consumer pay for cheese and get butter? Why should he be charged for a pen that does not write; a refrigerator that does not cool and an LCD which has already been used by store staff (reff– Rajiv’s article 2^nd dec)?

Many a times we come across goods and services that are not up to the mark and do not meet our expectation. (By expectation I mean those features which the producers or service providers promises to deliver or should deliver). Some times the problem can be resolved by accelerating the issue to higher level but at times these measures are unavailable or they simply don’t work. A layman is handicapped and wishes some system; some mechanism must be in place to punish the retailer, to pacify the action and to give justice to the biggest player of the industry – The consumer!!

If we refer to the Indian Legal structure we have Consumer Protection Act, Sales of Goods Act, bla blah!  But knowing the Indian legal system I guess hardly some fraction of our population is seeking relief via such routes. Though the three tier consumer dispute forum is useful many a time, they take lots of patience and time. Another problem with this system is many of us do not know law and hiring a professional service is an expensive choice.

Having said that it doesn’t mean that choices for consumers are limited and they have no way to deal with these kinds of situations. The first remedy is to always bring the issue to the notice of senior management. Well that at least is a benefit of buying from the organized market. The staff at store level might be inefficient but it doesn’t imply for the entire company. Many a times I have got amazing response using such mode.

If this doesn’t work there are blogs where you can post your experience and the company responds to it. It works as in this competitive market no one can afford to lose their reputation in the market. Im sure Rajiv must have posted a word at Big Bazaar blog, and if not his article here will sure reach the right ear soon.

Finally even though our legal system is not very consumer friendly there are lots of NGOs who provide professional services for a nominal fee of Rs. 200 – Rs. 500 p.a. and takes care of all legal proceedings on your behalf (obviously this you resort to when the problem is major) Many a times it works wonder as people get on their toe after receiving a legal notice and are ready to settle the claim at the earliest. Besides, various industries such as banks and telecom have separate grievances handling bodies and complaints to these bodies can be made online through the links provided on their websites.

But all these measures are insufficient and what can actually remedies the problem is the efficiency and diligence on the part of individual, companies and management to understand that they are part of the big value chain and if everyone does the work they are supposed to do effectively we can force changes.

-Roli

 Email  Print 1 Dude Commented »

These days came to fill some colors to the black and white balance sheets of american retailers, or we can say black, cyber and mobile days came to save the holiday season in this weak economic period. And as a result retailers not only got huge footfall but also an awesome sale. Some store managers quoted –

“Morning traffic was “awesome”, and “even better than last year.”

“I’m guessing it was about 85 percent credit and 15 percent cash,”

“People are happy, and few — if any — mention the economy.”

 As soon as I heard about these black Friday and cyber Monday, one thing came into my mind and that was Big Bazaar. It’s the only retailer in India who leveraged these similar occasions in India like “Maha Saver theen din” on Dhanterash and something similar even on Independence Day(I am not saying other retailers don’t do these kind of promotion but the kind of advertisement Big bazaar do just overwhelm all others). And because of this it made huge retail sales, regardless of razor thin margins due to offers there was profit, reason was volumes. But there is negative aspect of these days and that is handling tremendous traffic and rush, which Big Bazaar many a times failed to handles and same happen on Black Friday, retailers were unable to handle rush and on Cyber Monday most of the retail websites goes down too often causing inconvenience to customers. But in the last what matters were the sales for retailers and special offers to consumers.

And whats there in this for Indian retailers – a lesson to form a community not a competition and organize these days nationwide and organized retail wide, together they will be better equip to handle rush and to make profits.

- Prateek Katiyar

 Email  Print Make a Comment »

Being a Post-Graduate in Retail and a RetailDude, I was not able to avoid writing this post. It basically covers my experience in Big Bazar near one of the busiest area in Bangalore i.e. ITPL. It’s a big huge outlet but lacking at all the so called customer touch points.

During my Post-Graduation, I was lucky to be taught by one of the most renowned name in the field of CRM i.e. Prof. Mukesh Chaturvedi of Birla Institute of Management Technology (BIMTECH). I will not write about him in this post as this space will be less and I won’t be able to do justice to his Knowledge and Experience. But the insight he gave us on how can we increase customer service by using customer touch point to our (Retailers) benefit helped me to understand that how bad is Big Bazar at it.

I and my friend Pranshu went there to buy a 21” Television which was already selected on net and we just went there to pay and pick. My dissatisfaction begin from the baggage counter (1st touch point) where the person refuse to keep helmet of my friend and said that it can be kept only if we can adjust it somehow in our bag. Anyhow we carried the helmet with us. Then as we went inside, air conditioner was not working and store was stinking. People didn’t had much idea that where exactly electronics department is located in store. Somehow we managed to know that it is in 1st floor. When we went there we find some televisions with a layer of dust over it, but no executives to assist us. After a little bit of search we found that all executives were busy watching a South Indian Movie in LCDs which were displayed for customers. I can’t tell you how badly they were using that LCD. How can someone buy this used LCD at the price of new one? When we went there we asked the department head that we want to look for a 21” television. That dude didn’t even bothered to look at our face and pointed an executive to assist us while he continued with his movie. We were feeling very much sorry for the executive whom we interrupt in mid of the movie. So, he asked us what you want and very quickly told that what the options they have are. He was actually in hurry as he was missing important scenes of the movie. Somehow we felt that we should not disturb him anymore and we decided to go back.

I came down and enquired for customer service desk. Thankfully it was in ground floor only. There I find a group of employees chit-chatting. I went and briefed my experience. They said this is something which is happening on regular basis why don’t you write a complain. I was shocked to know this again. I wrote a complain and left with a feeling that nothing will be done for this complain.

I don’t have any enmity against Big Bazar. I have earlier had good experience in Big Bazar near my home in Delhi at EDM. It is just the result of expansion drive with which they are not able to provide uniform experience at all of their stores which is ultimately reducing customer loyalty. It’s happening in almost all the companies in this format. We cry that we don’t have sales, cost are increasing blab blab. But this experience shows that how we lose customers who come with a fix mindset of buying a pre-decided product. Result was that we went to a local dealer and bought the television where we had a very good experience. And I don’t think that I will enter any Big Bazar store in near future!!

- Rajeev Damani

 Email  Print 2 Dudes Commented »

Following are the Mumbai Helpline numbers, please spread them around to help others in need:

Taj Hotel Helpline:  022-66574322, 022-66574372, 1800 111 825

Oberoi Hotel Helpline: +91-981095688, 011-23890606, 011-23890505

Trident Hotel Helpline: 022-23890606 20

J J Hospital Blood Bank: Contact Person : Dr.Ganesh , Dr.Nair — 022 - 23739400

Bombay Hospital: Contact Person : Ms.Purohit: 22067676 extn 216

Cama Hospital Blood Bank: 022-22611648

St. George Hospital Direct Blood Bank: Contact Person: Tarun: 022 – 22620344

US State Dept Call Center for Americans concerned about U.S. family/friends in Mumbai 1-888-407-4747

British Foreign Office help line in London: 0207 0080000

Air Ambulance helpline to help foreign tourists: http://www.free-press-release.com/news/200811/1227824362.html

List of Hostages Rescued from Oberoi Trident: http://ibnlive.in.com/news/list-of-hostages-rescued-from-oberoi-trident/79264-3.html

More info here, and you can follow twitter with keyword: #mumbai to stay upto date, in case you dont have direct access to television channels.

If you have more info, please post it in the comments section, Please spread the word around for more blood donations, Stay safe and God Bless all.

 Email  Print Make a Comment »