Learning never stops. But when you are trying to teach retailing skills to the bosses of some of the world’s biggest companies, it is curious to know what the curriculum entails! This is exactly what happened during the India Retail Forum 2016 when under the
For several years, the
To bring the training to the students instead of having students go somewhere to get trained, the programme operates a specialised learning bus in a ‘mobile classroom’ environment to reach retailers even in remote parts of the country. Symbolic to the contribution that companies are making to retailing, The
- It’s all about the money: Effectively tracking and measuring return on investment is fundamental to the sustenance and growth of any business
- Returns policy: Return is not just about cash, but also about brand and goodwill. This needs to be kept in mind when calculating ROI
- The small retailer advantage: Personalisation and the ability to connect with customers at a more direct level are only possible with small retail shops and not with large stores.
- There’s something for everyone: Being a small retailer means one can become different things to different customers- this should be used as an advantage for more customised selling
- ‘Yeh dosti, hum nahi todenge:’ In order to drive repeat business, small retailers cannot rely on brand recall. Instead, what will bring customers back to their shops is the relationship built with a customer over time
It was certainly an interesting day for these business leaders not only for the unique classroom environment, but also because they learnt a bit more about the challenges and nuances of operating small retail businesses.