Problems that Retail Stores are facing in India
The biggest problem that retail stores are facing is an absolute innovation in the way of conducting business.
Retail stores in India are suffering from a host of issues and not one. Some of the issues mentionable are —
Most of the retail stores do not have return policies & some have poor return policies.
Operational costs are much higher for the retail stores & adding to their woes are untrained sales & service staff.
Lack of transparency in comparison to the fast growing e-commerce industry.
As of today, people are exposed to mass consumerism but the retail stores are unable to tap it.
And also there is the maximum retail price (MRP) constraint.
Tough competition from highly aggressive and fast growing e-commerce industry.
These issues can be overcome when the retail stores adopt technology and make significant investments therein. They also have to make the process more simple and convenient. The only changes that have come is that they’ve become bigger and have started stocking more items. Online businesses are thriving mainly because retail stores have made little innovation in the last twenty years.
E commerce have the advantage of high visibility of their offers on Online platform. Offline retail needs a tool which provide them the online visibility and one such platform is Vyuli. Rules of game have changed and offline retail has to realize that before its too late.