Ppt of Indian Retailing

Indian online stores getting hooked to e-community culture   [pic]More often than not, it's being argued that online shopping is convenient but yet an isolated activity. This format of easy-to-order-easy-to-deliver has been catching up with the tech-savvy buyers but it has always been looked upon as option out of necessity and not pleasure. In order to break this monotony, the concept of e-socializing was introduced to the online buying experience. Apart from a few established online stores, most of new entrants and the upcoming e-retail ventures are banking heavily on the rising popularity of social networking within the online shopping domain. There are a number of major international e-stores who initiated the coupling of online shopping with social networking. Online giants like e-bay started their buyers' â€Å"Community† which was then followed by arch-rival Amazon's popular â€Å"Daily Blog† section. The e-community trend has now moved-in to the Indian shopping terrain as well. Most of the upcoming Indian online stores and the Indian counterparts of the already established inter-nation e-retail brands are reaping in the benefits of shoppers' community and the latest Web 2. 0 technology to create a loyal consumer base out of their readily generated user traffic on the sites. Some of the popular community-based Indian shopping portals for your reference include: – ebay India: The global retail giant's Indian venture has a shoppers' community dedicated to registered users willing to chat, discuss, ask questions, leave messages and even leave feedback for the portal. Retailsdirect: This site is arguable India's first interactive store ever. If you have anything to share, discuss, ask or answer on any issue/subject including shopping, this site has it. It also has video conferencing, (or Video-Voice Text-Chat facility, as they term it) and is based on Web 2. 0 technology. – Hindustanlink: A site where you can do a lot more than shopping, including activities like Forum discussions, Blogging and Questions-Answers section as well. All in all, Indian shopping portals need to take a leaf out of their international counterparts' online strategies. After the emergence and expansion of global shopping portals like eBay, Kaboodle, Zebo etc. , there many e-stores of Indian origin which need to incorporate the concept of social networking to add that ‘zing' lacking in them. Until then, the aforesaid e-stores are there to bring in your friends and favorite brands while you choose to laze around at home!!! (no offense intended) Why not to shop at the malls again!! Before I start off with this lens, I would like to ask you as to when was the last time you went shopping to your nearest shopping mall? A week ago, a month back, and some would probably say that they have these virtual stores to shop for them and deliver goods like a trained pet, right? Hence, the question arises that with so much that an online store has to offer, do we really need shopping malls at all? As the famous saying goes, â€Å"There is nothing permanent in this world except change†, it can be easily applied to the ever-changing trends in the retail industry. The whole ‘sale and purchase' idea got a new meaning with the advent of online version of shopping. Today, it would not be advisable for any educated online shopper to hop back to shopping at the malls. The big players in the online retail scene in India are trying every trick in their bags to convert online users into traffic and then converting it into visitors, then into buyers and finally, into a loyal consumer base. For this, the focus has shifted from merely providing products online to social communities and special offers which can only be availed at these virtual stores. With the prospects of becoming a long-term successful industry, major e-stores like Indiamart, Futurebazaar, Retailsdirect and Indiaplaza are relying heavily on the online retail boom. They are leaving no stone unturned in accelerating the conversion rate of its user traffic. The most bankable factor for drawing in consumers from the offline domain is the ‘convenience' factor of online shopping. The most effective strategies of the major Indian e-stores are as follows: – Indiamart: It is a common platform for the online buyers and sellers, i. e. , a B2B marketplace. Highlights – Upcoming trade shows, divergent industry updates, international trade leads, tender notice via emails etc. – Futurebazaar: The finest brands online, user-friendly and simple design. Highlights – Clearance sales, buying in bulk offers – Retailsdirect: India's first interactive store with a Video-Voice-Text-Chat facility. Highlights- Group Bargains (Savings of upto 33% on products by creating groups to bargain), Cafe Retail (Earn redeemable RD coins, upload videos and photos) – Indiaplaza: US based shopping portal meant for trading and shipping to India and worldwide. Highlights – Airtel gift certificates, Gifts to India. The above strategies are a clear indication that the trend of online shopping is not merely restricted to the selection and buying process. One can use the wide reach and accessibility of the internet and various social media tools to develop interest and loyalty among the customers. So the next time you feel like shopping, chuck out shopping at the over-crowded malls and rather catch up with friends online and relax while you shop for your favourite products. Why are Indians apprehensive to online shopping? [pic]The Internet provides a progressive dimension to most of the industries on global platform. The retail industry has also benefited from its online version which has resulted in the growth and expansion of the sector worldwide. In India, e-commerce has been on a slow track in comparison to other parts of the world. There has been a visible growth in the e-retail sector yet the industry is being seen in its incipient stage. Earlier, the reasons cited for the weak response towards online shopping was blamed on the lack of Internet facilities and inadequate online transaction facilities available in the market. Since then, there has been technological boom in India. Now, the Internet is easily accessible to urban India and even rural pockets are getting Internet accessibility at select places. Growth in the credit card industry and other online transaction methods has also been a boon for e-shopping. Despite the recent developments, response to online trading and transaction has been feeble in this part of the world. Some of the reasons which potentially work against the industry in India include: – Bargaining is not possible – Product trial is generally unavailable – Insecurity surrounding the credibility of a shopping portal – Delays in product delivery – Lack in the variety of products – Social networking is restricted – Preference to real-time shopping for get-togethers The above mentioned reasons clearly indicate that apart from online activities like travel ticket booking and online broking, e-commerce still has a long way to go before earning the faith of the consumers. More innovative and tangible options are still awaited before the shopaholic appetite of the quintessential Indian is satisfied by these virtual stores. What is Your Brand Personality? [pic]How would you differentiate Nike's ‘Just do it' from Reebok's ‘I am what I am'? Both sell the same products, at almost the same prices and hold the same target audience. Still Nike's ‘Sweat and Beauty' sells more than Reebok's ‘We know you suck'. Needless to say that in such markets people don't turn to these brands for their offerings but because of the attitude these brands represent. These brands no longer offer mere products now, they are living experiences and identities in the minds of the consumers. Consumers now view these brands as a ‘living entity' – an entity that speaks its mind, reflects its attitude and acts as an aide in acknowledging their eccentricities and whims. That is what we call- BRAND PERSONALITY! The catch for this new generation of consumers is ‘ Be their friend'. The clutter and pressures of today's lifestyle has left the consumer flustered and beclouded. Loneliness is another hazard. However, the good news is people cling on to where they find value and stay where they find comfort. Therefore without infusing a feeling of security, accountability and ‘liking' in the mind of the consumer, brand loyalties are difficult to achieve. How to render a personality to your online brand WHAT IS YOUR GOAL? If your goal is to generate sales through your venture then the first step will be to initiate an exhaustive research about your domestic as well the world market, determine SEO strategies, optimize shopping cart and navigation functionalities along with other e-paths. IS YOUR HOMEPAGE YOUR CONSUMER'S HOME? Your homepage is your first interface with the visitor. Ensure that it makes him to stick to it by giving him what he wants, there itself. Banners displaying your core product or benefits for your consumer will act as a bait to hook him into reading more about it. Colorful pictures, layouts, interactive templates follow suit. THE HUMAN TOUCH! The most important element in building a brand, online as well as offline is ‘trust'. The more real your conversations are with your consumers, the more accountable your business becomes in their mind. Internet is still in its nascence as far as this interactivity is concerned. If feasible, allow your consumers to raise requests and receive relevant suggestions based on those requests. HIT THE BULL'S EYE IN THE FIRST GO! Your site content should be presented to your customers almost immediately. Content segregation in the form of bullets points, captions and brief paragraphs work best. Most importantly, visual presentations of messages are very helpful in creating an impression in the mind of the consumers. CREATING HYPE – A BIG NO, NO! Internet provides you with a flood of information in a no-pressure environment, with reigns solely in the hands of the users. Therefore traditional monotones of creating hype lose their credibility in this medium, where consumer behavior is regulated by product/price comparisons, variety and features. As mentioned above, people associate a brand with the experience it gives to its customers. In e-commerce environment, there is no space or time for frustration. Information should be easily digested. Ordering should be quick and smooth and loading time almost instantaneous. The idea is to catch the whim of the consumer and make him feel ‘special' and ‘cared for'. That's when a brand attains its own personality and becomes the consumer's friend. The rise and rise of Online Retail! The globe is finally at your fingertips. Human numbers may be expanding by the second but distances have finally shrunk. Investing money is a tradition. Investing time is the newest wrinkle. People don't mind spending the almighty rupiyah for a pair of Levi's Red Loop jeans if buying the same from an online store takes just a few minutes. Else driving an hour to reach the high street to buy it seems nothing less than a sluggish idea. Time and time alone stands as the new age currency today. And taking this as an opportune pedestal to climb higher, entrepreneurs have finally entered the new arena of Online Retail. Say, you had already seen your favourite digital camera at a store in a mall. What say if you found the same product at a much better price in the comfort of your home- on the web, at half the time you spent shopping offline Well, the web is serving all this and more to its online customers. According to the NASSCOM Report, India expects a massive mass of internet users. Even the big brands have already found their space on web. Whether it is the Luxury Retail, Kids Retail, Mobile Telephony or other Consumer Electronics, the high street e-stores are on a roll. The challenge however is to engage that portion of the mob, which visit the sites but go away without spending any bucks. The reason? Their distrust. This section of online turf is not comfortable transacting on the net because of their fear of e-stores mishandling their precious information. This population is almost half of the total online populace. If online retail portals begin to instill a security factor in the minds of their consumer base, half their battles will be won! expresss your opinion [pic]Do click on the responses given below if you feel like. I would be regularly updating this section with quesitons relating to the retail industry. Feel free to join in. %3A3%3A%7Bs%3A7%3A%22options%22%3Bs%3A180%3A%22393dcaee6fc694e9b6e51f5bc54f3db2%2CVery+safe%2C809c2f553e8895d1e46574138b647172%2Csomewhat+safe%2C9fdcbf05e56c00880a7fb03198847036%2Care+you+kidding+me%3F+whoever+said+online+shopping+was+safe%22%3Bs%3A6%3A%22period%22%3Bs%3A2%3A%2260%22%3Bs%3A8%3A%22question%22%3Bs%3A69%3A%22How+secure+to+you+think+is+the+online+retail+industry+for+a+consumer%3F%22%3B%7D How secure to you think is the onli ne retail industry for a consumer? Very safe 38. 5% [pic] somewhat safe 61. 5% [pic] are you kidding me? whoever said online shopping was safe 0%