What is fit-tech ? It is a technology that helps customers to try & buy clothes based on their body types. It all started in 2021 when Walmart bought a fit-tech startup called Zeekit. The objective at that time was to integrate a new virtual try-on feature to encourage more e-commerce sales in the future. Secondly, to […]
What is House-money effect? It is one of the most powerful tools used in marketing. Let me narrate the concept through a story. First scenario: Consider you have worked very hard the whole year & saved USD 12000 at the end of the year. What would you do if given the option to use this […]
The supermarket business is one of the most complex businesses wherein the margins are wafer-thin, but the competition is throat-cutting with rising operational costs. Consumers are the core of any business and without customers, you cannot have any business, irrespective of having a breakthrough product. To learn about the business model of farm-to-fork brands, click […]
Business success depends upon Customer acquisitions One of the common myths of ecommerce business is – You build a site on ecommerce platform, integrate with good UI/ UX and provide multiple payment options and load your entire assortment of merchandise.. Voila. You have a business at hand i.e. D2C business model. There are multiple flaws […]
Retail & Metaverse, what’s the relation? Do words like sandbox, Roblox, and Decentraland sound familiar to you? There is a high probability that you would have heard or come across these words in tech seminars etc; Yes, they are all platforms in Metaverse which is a kind of virtual world that promises to change the […]
What makes dollar store concept successful? The Dollar store boom in the United States during the economic downturn time is a known retail case study taught in several B-schools on how these convenience stores reinvented the retail landscape of the US retail sector with their convenience & discount centers that mushroomed in tier 2 and […]
SWAS model Toys R Us which shut down its last store in Jan2021 is now making a comeback as a shop-in-shop concept with retail giant Macy’s. As Fox Business reports, the Toys “R” Us stores inside Macy’s range from between 1,000 square feet to 10,000 square feet in size, with larger flagship stores set to exist […]
Can you 3D print your own toys? If you have a young son or a daughter at your home who is fond of gaming whether it is Roblox or any other platforms, You will observe that they get involved and engaged in the gaming environment so much so that they start associating themselves with the […]
Retail evolving in its new avatar. eCommerce growth during the pandemic is a known fact. In 2021: Amazon posted its biggest-ever profit, Walmart announced a 97% leap in online sales, and some physical stores saw earnings drop by as much as 256%. Brands worldwide urgently shifted their efforts toward capturing consumer engagement in the digital world. Retailers who […]
Loyalty programs are not only sales drivers but also a strategic tool for retailers to retain their customer base. Loyalty programs- not defined objectively. “Ritesh, can you help us in developing our Loyalty program?” This was the question asked me by one of the upcoming retailers. I asked them – “why are you planning a […]