{"id":1751,"date":"2016-12-29T00:00:40","date_gmt":"2016-12-28T18:30:40","guid":{"rendered":"http:\/\/thirdeyesight.in\/blog\/?p=1751"},"modified":"2016-12-29T00:00:40","modified_gmt":"2016-12-28T18:30:40","slug":"grow-up-to-find-growth","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/grow-up-to-find-growth\/","title":{"rendered":"Grow Up To Find Growth"},"content":{"rendered":"<p style=\"text-align: justify;\">In 2016, brick-and-mortar modern retailers seemed to have begun recovering their confidence, and cautiously investing in expansion. However, currency shortage has significantly dampened demand at the end of the year. The hangover would continue into the first half of 2017, and consumers could be muted overall on discretionary purchases, including fashion, mobile upgrades and out-of-home dining.<\/p>\n<p style=\"text-align: justify;\">On the other hand, while digital transactions introduce a note of caution (friction) in the consumer\u2019s purchase decision, for e-tailers they do reduce complexity, cash-handling costs and potential returns which could provide significant unexpected wins.<\/p>\n<p style=\"text-align: justify;\">I\u2019ve written about this for years, and don\u2019t tire of reiterating: the retail sector must recognise that shopping is a unified activity for the consumer; physical stores and non-store environments are alternative but complementary channels. Brands can and must use whatever channel mix works for them, and brick-and-mortar retailers need to invest in creating an integrated growth blueprint towards \u201cunified commerce\u201d.<\/p>\n<p style=\"text-align: justify;\">On their part, while e-commerce companies are constrained by FDI policy, they will need to invest more in developing \u201cold economy\u201d strengths \u2013 strong product differentiation and distinguishable brands. Fashion, accessories, home decor and other lifestyle products are strong drivers of gross margin for all multi-product retailers, and e-commerce players struggling on the path to profit would focus on these even more, as well as on private labels. They also need to have management teams that are able to cast their minds 3-5 years into the future, while keeping close watch on immediate cash flows. Capital is available, but turning risk-averse. All businesses need to focus on up-skilling their teams, retaining good people, improving processes and adopting technology. In recent years, growth in the retail sector seems to have been driven by a \u201cspray-and-pray\u201d approach, not necessarily management sophistication. Spending like there\u2019s no tomorrow is a sure way to no tomorrow.<\/p>\n<p style=\"text-align: justify;\">In short, 2017 could be the year where the entire retail sector grows up \u2013 a lot. We hope.<\/p>\n<p style=\"text-align: justify;\"><em>(This piece was published in <a href=\"http:\/\/www.thehindubusinessline.com\/catalyst\/grow-up-to-find-growth\/article9449609.ece\" target=\"_blank\" rel=\"noopener\">The Hindu &#8211; Businessline on 29 December 2016<\/a>).<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Devangshu Dutta casts a retrospective view on 2016 on India&#8217;s retail and ecommerce sector, and presents a perspective on 2017. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[25,27,212,249,215,33,625,60,36,37,43,44,46,302,48,1],"tags":[26,99,100,52,101,102,103,107,600,59,191,69,120,166,195,256,581,70,71,203,204,301,124],"class_list":["post-1751","post","type-post","status-publish","format-standard","hentry","category-apparel","category-branding","category-consumer","category-e-commerce","category-food-grocery","category-footwear","category-health-wellness","category-india","category-lifestyle-fashion","category-marketing","category-retail","category-soft-goods","category-strategy","category-technology","category-textiles","category-uncategorized","tag-apparel","tag-brand","tag-brand-building","tag-branding","tag-consumer-goods","tag-consumer-markets","tag-consumer-products","tag-consumerism","tag-ecommerce","tag-india","tag-indian-market","tag-indian-retail-sector","tag-marketing","tag-modern-retail","tag-modern-retailing","tag-omnichannel","tag-online-retail","tag-organised-retail","tag-organized-retail","tag-retail-productivity","tag-retail-revolution","tag-retailing","tag-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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