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Economic Survivel

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    • 1. The Key to Economic Survival - Retail
      Presented By
      Kapil Vardani
    • 2. 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.
    • 3. EFFECT OF ECONOMIC SLOWDOWN ON RETAIL
      • Change in consumer psychology.
      • 4. Less discretionery cash to spend.
      • 5. Fear of finacial and job security.
    • CHANGES FOR ECONOMIC SURVIVAL
      • Watch expenses and cash flow.
      • 6. Continue investing in solution.
      • 7. Apply consumer centric strategies.
      • 8. Apply chainStorage system.
    • KEY ELEMENT
      • Consumer centric marketing.
      • 9. Merchandising
      • 10. Price Optimization and Direct Marketing
    • CONSUMER CENTRIC MARKETING
      • Customer-centric marketing raises awareness and optimizes appeal informed by customer intelligence.
      • 11. 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.
    • 12. MERCHANDISING
      • Merchandising is any practice which contributes to the sale of products to a retail consumer. .
      • 13. 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.
    • 14. 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.
      Thesetechnologies allow21st century retailers to offer the more personalized service of the yesteryear in a cost effective manner.
    • 15. 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
    • 16. Thank you