Thursday, May 14, 2020
Monday, May 4, 2020
Future of Retail Post Covid-19
Future
of Retail Post Covid-19
For a year retail will see de-growth of 30% to 35%
in almost all product line except grocery and medical. Infect grocer and pharmacies,
drug stores has shown remarkable growth in the sale.
So
who will be affected the Most?
The major drop in business will be of
Brick-and-mortar stores ( Physical retail formats).
Reason:
People will not be able to maintain social distancing in physical stores.
Customer will be afraid of touching merchandise or taking a trial of
merchandise at physical stores. Back of mind, they think that product might be
affected by Covid-19 carrier, which can threaten their life.
So how merchandise will reach to end customer?
E-commerce: In the near future, we will see e-commerce will continue to grow significantly.
The contribution of E-come will be almost double from 15% to almost 30% E-commerce seller will be benefited from Covid-19 pandemics. They will fulfil customers
need through virtual stores created by Ecommerce sites. Online Business
turnover will increase dramatically once lockdown will be open. Customer will
feel safe to buy from online portals where He or she will buy merchandise with
maintaining social distancing, and without touching apparel and other
products. Now, researches have made us
aware that Virus takes 3 days to dye at most of the substances. Post placing
Online Order, delivery takes 2 to 3 days which is very safe for the
end-user. Life of the virus at any
polybag is also not more than 24 hours. Within 24 house the effect of Virus
remains only 1%. 99% virus dye or
microbes delay within 24 hours.
The middle class will be the most affected class
financially post Coronavirus. Online buying will help the middle class to save
money by not spending at petrol, parking, outside dining and impulsive buying.
Shopping in the mall with small kids is always very challenging for the
families. In fact, it may change
consumers’ behaviour permanently. Once the customer will be comfortable to buy
online may not prefer to buy offline further. Buying online will not only save
time but also money.
So what are you thinking right now?
If you are a business without virtual stores then
move faster to create an online platform for selling. Use digital marketing
rather than spending at ATL (New paper and TV).
Saturday, May 2, 2020
Thursday, April 23, 2020
Virtual team, Remote Economy, Gig economy
How to find the best resources with
minimum investment of Infrastructure and other additional costs?
By creating your Virtual Team you can optimize
your resourcing cost and improve profitability.
What actually is Virtual team?
A virtual team is also known as a geographically dispersed team or a
geographically distributed team. Usually, Virtual team refers to
a group of individuals who work together from different
geographic locations and rely on communication through technology such as
email, Voice mail, video or voice conferencing services in order to
collaborate.
So
these remote workers work together as a remote team.
What all benefits one get by hiring remote workers to create
Virtual team.
ü If you are not getting the right resource at the nearby location then no need
to wait and watch. Hire a remote worker.
ü If available resource within your territory is out of your budget then
hire a remote worker globally.
ü If you wanted to increase your business without increase existing
infrastructure then increase your workforce by hiring a virtual team.
ü A remote worker will cost you less because he or she will not be investing
time and money in travelling and maybe more productive.
ü Your Virtual Team gives you a
liberty to expand or reduce your team as per the work demand
ü Virtual Team is the future of resourcing.
Now
world biggest economies understand the need of Virtual team who can work from
home in such a critical situation of Coronavirus. This lockdown has made us
realized that we should not feel handicap and our economy must not affect as
bad in future if such a situation arises again or existing situation stretches
long.