It’s true that the retail market penetration is better with supermarkets and they do not even allow the local shops to compete with them. I believe, in the near future, we will miss the traditional touch of local communities in our everyday commodities.
To begin with, Customer acquisition plays a vital role in the development of a growing business. Goods and services reach is more efficient for supermarkets compared to local shops through discounts and offers. Cashbacks, digital order placements and free home delivery are very impactful business strategies which are able to attract all segments of the society, however local shops fail to do so. They ensure the entire experience of the buyer is seamless while enjoying offers. Many supermarkets, such as Nilgiris, Godrej Naturals, M. K. Ahmed, the freshco has invested in advanced technologies and have expanded across the country.
Furthermore, local shops are left behind in this growth path of market penetration because of their lack of versatility. The local shops have limited quantity and variety of products. Lack of business strategy and expansion mindset, upselling and cross selling is not viable for local shops. Hence, in another decade, the local shops will be completely disappear and we will not have access to traditionally made goods. And with no business in hand, local communities will migrate in search of other businesses or jobs.
Thus, I believe, with limited variety and lack of business strategy and growth plan, it will be really tough for local shops to continue growing their business and sustaining the local communities.
It’s true that the retail market penetration is better with
supermarkets and
they do not even
allow
the
local
shops
to compete with them. I believe, in the near future, we will miss the traditional touch of
local
communities in our everyday commodities.
To
begin
with, Customer acquisition plays a vital role in the development of a growing
business
.
Goods
and services reach is more efficient for supermarkets compared to
local
shops
through discounts and offers.
Cashbacks
, digital order placements and free home delivery are
very
impactful
business
strategies which are able to attract all segments of the society,
however
local
shops
fail to do
so
. They ensure the entire experience of the buyer is seamless while enjoying offers.
Many
supermarkets, such as
Nilgiris
,
Godrej
Naturals, M. K. Ahmed, the
freshco
has invested in advanced technologies and have expanded across the country.
Furthermore
,
local
shops
are
left
behind in this growth path of market penetration
because
of their lack of versatility. The
local
shops
have limited quantity and variety of products. Lack of
business
strategy and expansion mindset, upselling and cross selling is not viable for
local
shops
.
Hence
, in another decade, the
local
shops
will be completely
disappear and
we will not have access to
traditionally
made
goods
. And with no
business
in hand,
local
communities will migrate in search of other
businesses
or jobs.
Thus
, I believe, with limited variety and lack of
business
strategy and growth plan, it will be
really
tough for
local
shops
to continue growing their
business
and sustaining the
local
communities.