retailing and e-tailing points for festive season
TRANSCRIPT
9 points for Retailers
to consider this Festive Season
Sanjeev RaoAuthor|Speaker|Coach|Consultant
Plan & Be Prepared
• Website - latest product images, fresh products, new launch
• Distribution network integrated with retail outlet • Avoid stock shortage
Pricing• Be prepared for Online price Comparison and ensure
competitive pricing. Regular monitoring of the same• Synonymous pricing for online & retail channels• Disparity in pricing can lead to customer
disappointment or loss of sales
Offer choice of Payments- Provide EMI Options- Credit Card & Cash Back
Choice of Gifting• Gifting segment – boost in sales during this period• Gift vouchers are popular medium of gifting• Choice – Vouchers of various denominations• Selected festive gift items to improve range
Fringe Benefits• Rewards and Remunerations• Extra points/Surprise Offers on Loyalty Programs • Advent of e-wallet/digital wallet • Offer Special Warranties/Insurance • Exchange Offers
Prompt Delivery• Key is Supply Chain and Distribution System• Hire Temp Staff and rent additional Delivery Trucks• Imperative that Customers receive their Deliveries On
Time • Too Many Orders – Option to pick product at Nearest
Store. Good alternative for Online Orders
Growth -Tier 2 and Tier 3 Cities
• Increase in Shopping Trends and Spends• Wider range of products• Multi-city strategy
Cash in On Early Shopping
• Promote Customers to Shop Early • Helps in Stock forecasting• Eases pressure on Supply Chain
Separate out Shipping costs• Priority Shipping, same day or next day delivery • Cost if built-in price will be higher than competitors • Late Orders - provide customers choice and cost of
shipping
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