Retail industry in India has evidently grown in the past few years and technology has emerged as food for the soul of the industry. Indian retail industry is considered as the most fast-paced industries in the world and dynamic in nature.
Giant players of the retail industry have embraced technology to entice and secure customers and made the best out of technology to optimise their businesses. On the other hand, small retailers tend to neglect technology and are not aware of the changes taking place in the retail market.
Lately, the Walmart-Flipkart deal has posed threat and fear in the minds of small retailers in terms of their existence and prosperity in the market. Instead, small retailers should seek this deal as an opportunity to optimize their businesses. The smaller retailers can’t afford to neglect usage of technology for multiple reasons. They have to respond to the evolving marketplace through enhanced speed and flexibility.
Use of technology is a growing trend especially in the retail business. Platforms like FOOP, launched by Netree which is world’s first engagement platform for consumers to engage with brands directly, will not only help small retailers to survive and flourish in the industry but will also enable them to uncover all sorts of new ways to optimize their business.
Such technological platforms enrich online shopping of customers, while collecting and analyzing customer data to strike differentiation. At the same time, a good retail tech platform averts leakages in the entire supply chain, right from the big brand to retailer, distributer, to end consumers. It has become the need of the hour for small retailers to walk hand-in-hand withtechnology to keep pace with giant players of the retail market. Technology gives an opportunity to engage with their key stakeholders directly. Direct communication with the help of these retail engagement platforms will create transparency among the retail chains which will further promote leak- proof transactions and help in balancing the ecosystem of the retail market.
FOOP is a unique engagement platform that helps brands, distributors and retailers to connect, promote and transact between them and directly with customer. It allows engaging directly with anyone in retail community. The biggest advantage for the consumer is FOOP gets the Direct Benefit Transfer (DBT) of the schemes and coupons offered by brands. It has a horizontal communication model, each leg of retail value chain interacts freely with each other, leading enhanced transparency quotient in
The other advantages of FOOP includes, aiding the outreach campaigns with marketing engine, promoting the schemes of brands, mobilising the coupons for retailers and distributors and knowing the customers.
Netree is providing services to 15,000 retailers and plans to connect with around five lakh retailers by July 2019 helped by its flagship initiative ‘FOOP’. Presently, it is associated with brands like Procter & Gamble, ITC, Pepsi, Hatsun, etc (2017-18). Also, Netree has tied up with an Airtel payment bank and signed a memorandum of understanding (MOU) with retail major Walmart for its FOOP services, where it will reach out to the retailers offering various benefits on the purchases.
Authored by:- Mr. Desi Valli, founder and CEO of Netree
(The views expressed in this article are by Mr. Desi Valli, founder and CEO of Netree. Technuter.com doesn’t own any responsibility for it.)
@Technuter.com News Service