Trends for Indian Retail in 2023

 2022 was a return to near normal for Indian retail. That leads to the question as to what 2023 holds for this sector. Trends that would dominate this sector has been detailed in this article published in The Hindu Business Line. Clicnk on this link to read the full article - Trends that will shape Indian retail this year - The Hindu BusinessLine

Indian Retail after the Lock down and Corona Virus scare in 2020

In the mid 1990s when Modern Trade started off in India, everyone started saying that Kirana or small stand alone stores are doomed. After a few years later when online retail started, physical stores were expected to be badly hit. Although there has been some impact with regard to a few categories by online retail on physical stores, it is nowhere as widespread as prophesied. Kirana stores have always marched on stoically. 

Fast forward to 2020 and the Covid-19 scare which has led to lock downs in most countries including India.

Interestingly, the small stores or Kiranas are managing quite well and many shoppers are dependent on these stores for their essentials. Many physical stores are catering to the shopper’s essential purchases. In spite of the lock down situation and home quarantine, online which had a good opportunity especially in the food space is grappling with delivery and stock challenges.

How will shopper behavior be after the Lock down? Which format will be preferred by shoppers? What might happen to the consumption patterns? Will there be a dramatic change after the Corona Virus scare goes away or at least reduces?

Most importantly, what will happen to Indian Retail and its various segments?

All these points have been detailed in this article published in Business Line’s BLoC. Click on this link to read the article and share your comments - What will shopping look like after Covid-19?

Convenience store format in India

Kirana stores or the small neighborhood shop has always been predicted to close down in the face of competition. In the mid 90s when the Foodworld Supermarket chain started, everyone expected these small shops to shut down in that area. Later on with the arrival of several chains and then online retail, this doomsday prediction for these small shops has always been around.

Interestingly, till date these small Kirana shops have not only stuck around but have also managed to keep up with the shopper expectations. They have implemented various value additions like cramming in a few shelves to create a self service shopping experience, extended hours of operation, better service, etc.

Coupled with their penetration in any locality, they are truly the Indian version of convenience stores.

However, this might be challenged, soon. Already a few convenience store chains have started and recently a global retail chain has announced their entry into India.

How will the kirana stores compete in the face of such direct competition, Will the global chain be able to have a quick and easy entry? Will this finally lead to the Kirana stores to be affected? – Many more such questions have been addressed in my two articles in the “Inside Retail” column of the Business Line on Campus.

The links to these two articles are –

- https://bloncampus.thehindubusinessline.com/columns/inside-retail/can-indias-convenience-stores-stand-up-to-competition-from-abroad/article29856810.ece

- https://bloncampus.thehindubusinessline.com/columns/inside-retail/challenges-for-7-eleven-store-chain-in-india/article29983936.ece

Please share your views and comments about this.

Inside Retail; The great Indian MRP trick

One of my pet topics! 

During a session where I was explaining about MRP being irrelevant in the current market scenario, an interesting question/ counter point came up.

This point was - “MRP printed on a product gives the consumer some assurance about the price. If there was no MRP, what is the guarantee that retailers would not fleece the customers?”

The article “The great Indian MRP trick” answers this question as also reiterates that MRP as a concept is neither applicable universally nor is it being insisted upon and most definitely is enforced in very rare instances.

Please share your views and comments about this.

Inside Retail; Long way to go for omni channel retail

I have been remiss in sharing thoughts and insights about Retail in the blog due to lot of travelling and extensive engagements. Let me resume by sharing some articles I had written for my new column in the Business Line on Campus (BLoC) titled “Inside Retail” .

A full page advertisement by a retailer claiming to be an omni channel operator piqued my curiosity. Omni channel is easier to claim than do and this article explains the reasons for the same.

The full can be read by clicking on this link - “Long way to go for seamless omni channel shopping experience”. Please do share your views and feedback in the comments section.