Posts tagged supermarkets

Print Missing Barcodes at the POS

 

 


What to do if there is customer wanting to buy a product but the barcode is missing ?

Rebarcoding is generally done for items only at Head office or warehouse. But now Ginesys has a new feature by which it is possible to look up an item via search and print the barcode for the same at the shop’s point of sale itself.

Hence this allows rebarcoding to be a less expensive effort, saving logistics efforts and also increases customer satisfaction and pushes sales.

 

New retail hotspots: Tier II cities


Recently we conducted a study into how retail has expanded beyond the metros and the results are out: Industrial townships and tier II cities are emerging as new retail centers.

The retail centers in cities like Faridabad, Nagpur, Jamshedpur and Rourkela etc., have flourished on account of increased levels of industrial and commercial activity, the survey found.

“Rise in discretionary/per capita income has given a boost to retail consumption in tier II cities and towns. At the same time, these towns and cities have witnessed rapid improvements in infrastructure and logistics enabling retailers to set up outlets to cater to the demand,” Ginesys CEO Prashant Lohia said.

You can read the complete story at the link below:

The Hindu Business Line- http://www.thehindubusinessline.com/industry-and-economy/tier-ii-cities-industrial-townships-are-new-retail-hotspots/article4673693.ece

The Economic Times- http://economictimes.indiatimes.com/news/news-by-industry/services/retail/tier-ii-cities-industrial-townships-are-new-retail-hotspots/articleshow/19820532.cms

Business Standard- http://www.business-standard.com/article/news-ians/hyderabad-largest-retail-hub-in-south-study-113050800768_1.html

Retain Customer by Ginesys GV


Ginesys GV

These days Customer Retention is the biggest challenge for retailers. A Loyal customer requires 6 times less effort to retain ,compared to acquiring a new one. So retaining customer is topmost priority in any business but in retail becomes more important due to easy switching and shrinking margins.

Gift Voucher or GV is one the ways to do so by offering customers more options and incentives to remain loyal to your business, by this sales will automatically increase. It will also encourage, build, and maintain customer loyalty as to redeem the card value, customers will revisit your store and, quite possibly, purchase more.

A gift voucher is a monetary equivalent that is issued by retailers  to be used as an alternative to a non-monetary gift. Gift vouchers have become increasingly popular as they relieve the donor of selecting a specific gift. The recipient of the gift voucher can use it at his or her discretion within the restrictions set by the issuing agency.

Ginesys now has come up with GV option where retailer can issue it in two ways:

  1. As a gift to the customer on certain amount of purchase.
  2. As a product equivalent to the cash he has paid for it.

It will be issued under centralized controlling system and hence can be redeemed at any of the stores.

Apart from retaining customers this will

  • Earn interest from each gift voucher, from the point of purchase to the time of use.
  • “Slippage.” since, cash is not reimbursed to customers who do not redeem their full gift card value. Estimates states that approximately 10-15% of gift card balances are never used.

So use Ginesys GV and retain your customer with ease.

 

Who is winning in the loyalty stakes?

Aberdeen has come out with a report on Customer Loyalty 2012: Enabling Technologies for Customer Engagement, Conversion, and Retention, The study, sponsored by Tibco reveals a few interesting characteristics about who is winning back customers through loyalty programs.

  • Use all channels of loyalty marketing like web, social, mobile, location targeting, et al
  • Be consistent but respect the context (i.e. be brief on a mobile , consider timings etc.)
  • Collect data from all programs in a consistent way
  • Analyze and improve

Retail Leaders — the top 30% of performers — are the best at tracking how the program is doing and tweaking it. Plus their merchandise planning and loyalty are deeply linked.

 

FDI in Retail Trading


FDI in Multibrand Retail is the center point of Indian Politics these days. It was a bold decision on behalf of government and may do wonders for the already weak economy and retail sector.This will not only create jobs in the market but will also result in controlling  inflation.

Below is the table summarising the conditions applicable in case of FDI in wholesale trading, single brand product retail trading and multi brand retail trading:

 

Description

Cash & Carry Wholesale Trading/ Wholesale Trading

Single brand product retail trading (SBPRT)

Multi-brand retail trading (MBRT)

Meaning Wholesale trading is sales for the purpose of trade, business and profession, as opposed to sales for the purpose of personal consumption. Not defined under the FDI policy. Generally means the sale of products of a single brand to retail customers for personal consumption. Not defined under the FDI policy. Generally means the sale of products of multiple brands to retail customers for personal consumption.
% of FDI cap 100% 100% 51%
Automatic / government approval route Automatic route i.e. without any prior approval Government approval route Government approval route
Approval from NA Application to be made to the Secretariat for Industrial Assistance (SIA) in the DIPP.Application to be processed by DIPP and check whether the investment satisfies the notified guidelines. Once it is satisfied with the compliance, it will forward the application to FIPB for consideration. Application to be processed by DIPP after determination whether the investment satisfies the notified guidelines. Once it is satisfied with the compliance, it will forward the application to FIPB for consideration.
General conditions to be satisfied: a)     For undertaking wholesale trading requisite licenses/ registration/ permits, as applicable should be obtained.b)     Sale should be made only to ‘valid business customers’ with whom wholesale transactions can be entered into (besides the Government).6c)     Full records indicating all the details of such sales should be maintained on a day to day basis.d)     Wholesale deals would be permitted among companies of the same group and such wholesale trade to group companies7 taken together cannot exceed 25% of the total turnover of the wholesale venture. a)     Products to be sold should be of a ‘Single Brand’ only.b)     Products should be sold under the same brand internationally i.e. products should be sold under the same brand in one or more countries other than India.c)     Products should be branded during manufacturing.d)     The foreign investor should be the owner of the brand or a licensee / franchisee / sub-licensee. a)     Retail sales outlets may be set up in those States8/ Union territories which have agreed or agree in future to allow FDI in MBRT.b)     Retail sales outlets may be set up only in cities with a population of more than 1 million as per the 2011 census. In case of States orUnion Territoriesnot having cities with a population of more than 1 million, retail outlets may be set up in the largest cities.c)     Minimum amount to be brought in, as FDI, by the foreign investor, would be US$ 100 million.d)     50% of total FDI brought in to be invested in `backend infrastructure` within three years. Backend infrastructure will not include cost of land and rentals.
Mandatory local sourcing requirement (see detail discussion below) NA In case of FDI beyond 51%, sourcing of 30% of the value of goods purchased, will be done from India, preferably from MSMEs, village and cottage industries, artisans and craftsmen, in all sectors. 30% of the procurement of manufactured/ processed products shall be sourced from Indian `small industries’.9
Obligation to ensure compliance of the conditions Company which is recipient of FDI and carrying out wholesale trading. Company which is recipient of FDI and carrying out SBPRT. Company carrying out MBRT to ensure compliance of these conditions and investor to maintain accounts duly certified by the statutory auditors.
E-commerce (see detail discussion below) Wholesale trading in terms of business to business (B2B) e-commerce is permissible. SBPRT by means of e-commerce would not be permissible. MBRT by means of e-commerce would not be permissible.

Source:Nishith Desai Associates